3D Reconstruction Technology Market to Grow at 6.7% Annually to Reach USD 1.4 Billion Valuation by 2027, Says Transparency Market Research

ALBANY, New York, Feb. 12, 2020 /PRNewswire/ -- A number of growth factors are set to emerge over the period 2019 to 2027, helping the global 3D Reconstruction Technology Market chart high growth of 6.7% compounded annually. This growth rate will help the market improve its worth by pulling it up from USD 0.778 bn. to USD 1.4 bn.

Transparency Market Research opines, "Widespread and varied use in a number of industries such as infrastructure and construction, healthcare, oil and gas, and museum and archaeology is fueling growth in global 3D reconstruction technology market. As the technology enables a minimal risk real life outcome, it holds a crucial place in these industries, which are getting more and more complex with time."

Key Findings of the 3D Reconstruction Technology Market Study

• 3D scanning technology type to grow at significant pace over the assessment period; growth in segment to be primarily an outcome of demand arising from autonomous vehicle manufacturing
• Number of autonomous vehicles are increasing and manufacturers are adopting this technology with much enthusiasm to enable 3D depth measurement
• Gaming and entertainment to be a major application owing to rapid adoption in games, mobile applications, and movie halls across the world
• Use in medical simulations to make healthcare the second largest application over the forecast period

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Explore 219 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on 3D Reconstruction Technology market by Type - 3D Reconstruction Technology Software, Based on Images and Video, Based on 3D Scanning; Application - Civil Engineering, Product Design and Development, Public Safety and Forensics, Medical, Gaming and Entertainment, Mapping and Surveying, Archeology and Documentation; Industry - Industrial Manufacturing, Robot Manufacturing (Heavy Equipment, Automotive, Healthcare), Media and Entertainment, Agriculture, Government and Public Safety, Oil and Gas, Marine, Infrastructure and Construction (Bridges, Dams, Tunnels), Energy, Museums and Heritage, Aerospace; Construction Type - Active, Passive

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3D Reconstruction Technology Market: Key Driving Factors

The rising need for handling complex situations such as those witnessed in healthcare, oil and gas, and construction industries with accuracy is helping the global 3D reconstruction technology market in charting a steady curve. Some of the factors that are supporting the projected growth over the forecast period include the following:

• Governments, especially in developing countries, are focusing on infrastructure development in order to drive GDP growth, employment, and better connectivity - China's Belt and Road Initiative, Australia's Oceania-Sydney Metro and Africa's Lagos-Kano Railway to name a few
• Virtual gaming, growing in popularity at a substantial pace, is witnessing a rise in deployment of 3D reconstruction technology owing to growing consumer demand for interactive and immersive entertainment
• Construction of smart cities relies heavily on use of this technology in order to ensure optimum planning and resource use

Key Impediments for 3D Reconstruction Technology Market Players

One of the major restraints that the global 3D reconstruction technology market would experience over the assessment period, restricting it from reaching its true potential is the lack of skilled professionals. Training and development will help counteract the negative effect. Besides, there are concerns regarding security of data that is restraining growth.

3D Reconstruction Technology Market: Region-wise Analysis

• Europe to account for a significant market share over the assessment period owing to numerous government initiatives aimed at preserving cultural heritage; Germany to be at the forefront
• Asia Pacific to chart a notable CAGR, growing at an impressive pace; growth in the regional market to be owed to extensive use in the construction industry; China to contribute to growth story in a major way
• Middle East to generate untapped growth opportunities over the stated period

Analyze 3D Reconstruction Technology market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,

Competition Landscape

An analysis of competitors' landscape of global 3D reconstruction technology market, presented by Transparency Market Research, shows that players operating the playfield would be massively involved in Research and Development to ensure the most innovative outcomes hit the market, providing them a larger share of growth.

The key companies that mark the slightly fragmented vendor landscape of global 3D reconstruction technology market, setting higher benchmarks for others are Acute3D, Agisoft PhotoScan, Autodesk, Blackboxcv, Elcovision, Photometrix, PhotoModeler, Pix4D, RealityCapture, Realsense (Intel), Skyline Software Systems, and Vi3Dim Technologies among others.

Transparency Market Research has segmented 3D reconstruction technology market based on type, application, construction type, industry, and region.

By Type

• 3D Reconstruction Software
• Based on Images and Video
• Based on 3D Scanning

By Application

• Civil Engineering
• Product Design & Development
• Public Safety & Forensics
• Medical
• Gaming & Entertainment
• Mapping & Surveying
• Archeology & Documentation

By Construction Type

• Active
• Passive

By Industry

• Industrial Manufacturing
• Robot Manufacturing
• Heavy Equipment
• Automotive
• Healthcare
• Media & Entertainment
• Agriculture
• Government & Public Safety
• Oil & Gas
• Marine
• Infrastructure & Construction
• Bridges
• Dams
• Tunnels
• Energy
• Museums & Heritage
• Aerospace

In addition, the report provides analysis of the global 3D reconstruction technology market with respect to the following geographic segments:

• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• South America

Explore Transparency Market Research's award-winning coverage of the Global IT & Telecom Industry:

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research