Market Research Report
3D Mapping and 3D Modelling Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||393650|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|3D Mapping and 3D Modelling Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: April 1, 2019||Content info: 110 Pages||
The 3D Mapping and Modelling Market was valued at USD 8.97 billion, in 2018, and is expected to register a CAGR of 20.94%, over the forecast period (2019-2024). With major investments ongoing for 3D maps applications to be integrated with smartphones, market players, such as Samsung, Nokia, and other OEMs, are entering this market. Online web services players, such as Amazon and Microsoft, have also started offering 3D maps on their platforms.
Apart from major smartphone OEMs, smartphone component manufacturers are also entering this lucrative market. For instance, Parrot, a global leader in wireless devices for mobile phones, has positioned its consumer drones for 3D modeling, mapping, and agricultural uses.
The advent of 3D-enabled Display Devices is boosting the growth of the 3D Mapping and 3D Modelling market over the forecast period.
Advancement of 3D Scanners, 3D Sensors, and Other Acquisition Devices are positively impacting the growth of the market over the forecast period.
3D mapping & modeling technologies are one of the fastest ways to build 3D environments in the highly demanding market. 3D mapping solutions quickly creates 3D maps of the surroundings, with utmost clarity and accuracy, ready to plug into professional visualization operations. With major investments ongoing for 3D maps applications to be integrated with smartphones, market players, such as Samsung, Nokia, and other OEMs, are entering this market. Online web services players, such as Amazon and Microsoft, have also started offering 3D maps on their platforms.
Automotive to Witness Significant Growth
The future for various industries is 3D mapping & modeling, and the future factory will be composed of several industrial-sized printers. The car and automotive sector is one area likely to be affected significantly.
Driverless cars have many different kinds of sensors - including cameras, lidar, and radar - but they are not yet capable of fully understanding what they see. For example, before an autonomous car approaches a junction, it needs to know exactly where the traffic light will be. Because of this, driverless cars need highly detailed 3D maps of the roads they are to navigate, which is expected to boost the 3D mapping adoption.
Tesla, a company, focusing on driverless cars, and having a few models offering driverless capabilities, has started pushing new modules from MapBox, an open-source mapping platform for custom designed maps, and Valhalla, an open source routing engine for navigation, for increased safety, which is boosting the overall market growth.
The increased use of 3D technology in the R&D department of the automotive industry propels the growth of the market in Europe, especially in Germany and the UK. This technology is used to design and engineer new vehicle models. For instance, Ferrari, based in Maranello, Italy, uses Autodesk 3D modeling software in the early stages of product development, before prototyping.
North America to Hold Major Share
North America is anticipated to hold a major share over the forecast period as the region has a strong automotive sector buoyed by the presence of major players and technologically advanced capabilities. Increased spending on infrastructure is pumping more money into the economy, creating more demand for consumer services and goods, which eventually increases investment in capacity increases of manufacturing facilities, retail establishments, and office space. The trend of growing population (309 million in 2010 to 327 million in 2017) also contributes to the growth of the construction industry in the United States and thus, the market for Building Information Modelling (BIM).The huge volume of adoption of connected vehicles in the United States clearly outlines a growing trend of connected cars, which proportionately pushes the need for better and enhanced navigation capabilities, thereby, driving the market growth.
The 3D Mapping and Modelling market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic innovations and collaborative initiatives to increase their market share and increase their profitability. For instance, in May 2017, Trimble acquired NM Group to expand its energy solutions portfolio to provide high-value data modeling and 3D visualization services for the utility industry. Further in Nov 2017, Golden Software, LLC, released Surfer version 15. The latest version includes the 3D viewer, point cloud layer for Lidar data processing, base map symbology, multithreaded gridding, and color relief generation, and streamlined workflows.