CHICAGO, April 13, 2020 /PRNewswire/ -- The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the 3D Imaging Market. We are working diligently to help companies take rapid decisions by studying:
- The impact of COVID-19 on the 3D Imaging Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
- The rapid shifts in the strategies of the Top 50 companies in the 3D Imaging Market
- The shifting short-term priorities of the top 50 companies' clients and their client's clients
You can request an in-depth analysis detailing the impact of COVID-19 on the 3D Imaging Market: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=998
According to the recent report "3D Imaging Market by Component (Hardware, Solutions, and Services), Deployment Mode, Organization Size, Vertical (Manufacturing, Media and Entertainment, and Architecture and Construction), and Region - Global Forecast to 2025",published by MarketsandMarkets™, the global 3D Imaging Market size to grow from USD 15.5 billion in 2020 to USD 41.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period.
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The major factors driving the growth of the 3D Imaging Market are the increasing demand for 3D image sensors from verticals, such as manufacturing, automotive, and media and entertainment. The growing demand for 3D accelerometers in smart phones and gaming consoles is also expected to drive market growth.
Large enterprises segment to hold a larger market size during the forecast period
The 3D Imaging Market is segmented by organization size into large enterprises and Small and Medium-sized Enterprises (SMEs). The large enterprises segment is expected to have a larger market size during the forecast period, due to the increasing urge among organizations to adopt 3D imaging solutions and hardware to deliver better customer experience. Large healthcare and life sciences institutions need to have advanced X-Ray, Computed Tomography scan, and Magnetic Resonance Imaging devices to treat patient health. The adoption of high-end 3D imaging technologies, such as 3D scanners, 3D displays, and 3D sensors are increasing the quality of images owing to their high resolution. Various businesses, such as media and entertainment, manufacturing, and retail and eCommerce are adopting 3D imaging hardware and solutions to increase business processes and remain competitive in the market.
By vertical, the manufacturing vertical to grow at the highest CAGR during the forecast period
The 3D Imaging Market by vertical is segmented into eight categories: aerospace and defense, automotive and transportation, manufacturing, healthcare and life sciences, architecture and construction, media and entertainment, retail and eCommerce, and others (energy and utilities, education, agricultural irrigation, and BFSI). The manufacturing industry vertical is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the increasing adopting of Artificial Intelligence (AI) and Internet of Things (IoT) technologies to enhance their supply chain management processes. Manufacturing verticals are facing challenges in analyzing processes for manual and automated inspection of any part, component or final assembly, and for streamlining and maximizing efficiencies across the manufacturing process. The emergence of affordable 3D imaging technology for industrial applications has resulted in its increased use in the processing and quality control applications for defect detection, measuring volumes, or measuring elevation dimensions across the manufacturing process. Most companies offer 3D imaging techniques, such as laser triangulation, stereo vision, and light stripe projection all of which use geometric procedures, and Time-of-Flight for advanced and smooth manufacturing processes. For instance, FARO offers 3D manufacturing solutions and software, which include FARO CAM2 software used to streamline industrial metrology applications, such as dimensional controls, incoming and first article inspections, part-to-CAD comparisons, assemblies, and repeat part measurements.
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North America to hold the largest market size during the forecast period
North America is the most significant revenue contributor to the global 3D Imaging Market. The region is witnessing significant developments in the 3D Imaging Market. North America is projected to hold the largest market size during the forecast period. Key factors favoring the growth of the 3D Imaging Market in North America include increasing investments for the Research and Development (R&D) process and widespread adoption of 3D technology in the region. The growing number of 3D imaging players across regions is expected to drive the market growth further. Major North American vendors in the 3D Imaging Market are GE Healthcare (US), Autodesk (US), Trimble (US), FARO (US), Google (US), Adobe (US), HP (US), Lockheed Martin (US), Able Software (US), Esri (US), Bentley Systems (US), and Pixologic (US).
The report includes the study of the key players offering 3D imaging hardware, solutions and services. The major vendors includes GE Healthcare (US), Autodesk (US), STMicroelectronics (Switzerland), Panasonic (Japan), and Sony (Japan), Philips (Netherland), Trimble (US), FARO (US), Google (US), Adobe (US), HP (US), Dassault Systèmes (France), Lockheed Martin (US), Topcon (Japan), Able Software (US), Maxon (Germany), Esri (US), Bentley Systems (US), Pixologic (US), Pix4D (Switzerland). It also includes an in-depth competitive analysis of the key players in the 3D Imaging Market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
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