Technavio’s market research analysts estimate the global 3D mapping and 3D modeling market, to grow at a CAGR of more than 8% between 2016 and 2020. Of late, the 3D technology is gaining huge prominence in the healthcare industry for anatomical and diagnostic purposes. North America and Europe are the major players in the market due to the increased demand for high-definition 3D maps of geographical features (both natural and manmade) in these regions.
The new market research report from Technavio provides a breakdown and analysis of the 3D mapping and 3D modeling segments by technology.
“The market is witnessing increased use of LIDAR technology to measure accurate distances, through remote sensing. Vendors are coming up with latest techniques in both terrestrial and airborne LIDAR. 3D modeling is increasingly being used in the gaming industry due to the rising demand for quality and complexity. Moreover, 3D modeling widely used in various other entertainment fields such as for special effects in movies and animated films,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
Construction industry is the highest revenue-contributing segment in this market, accounting for around 24% of the overall market share. This sector uses 3D mapping and modeling software for visualizing construction models, buildings, and sites before the actual processes are initiated. Growing focus on the development of smart cities is boosting the need for 3D mapping and modeling software.
The leading vendors in the global 3D mapping and 3D modeling market include Apple, Google and Autodesk. The market is highly fragmented, where vendors compete on the basis of pricing. There are numerous opportunities for mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global 3D Mapping and 3D Modeling Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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