Market overview
The global 3D Mapping and 3D Modelling Market is estimated to reach a CAGR of 26% over the assessment period of 2023. Further, the global market is registered to expand the market share at USD ~6 billion by the end of the year 2023.
The 3D Mapping & 3D Modelling Market Trends is expected to drive due to the increasing number of market players across various regions. It has been difficult to capture 3D data in the past few years due to the lack of proper systems, tools, or technologies. But presently, the technological advancements in 3D sensors, 3D scanners, and other acquisition devices are driving the market growth.
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The 3D Mapping & 3D Modelling Market Opportunities are growing due to the emergence of ML technologies and artificial intelligence. However, the increased installation costs and high technological advancements might hinder the market growth in the forecast period. Apart from that, a skilled workforce and expertise can bring major challenges to the global market.
Market Segmentation
As per the 3D Mapping & 3D Modelling Market Forecast report, the global market is classified based on components, deployment mode, end-users, and applications.
Based on the component segment, the global market has been classified into services and software tools. Further, the services segments include managed services and professional services. On the other hand, the software tools segment is bifurcated into 3D modeling and 3D mapping. For instance, the software tool segment is projected to register the higher CAGR in the review period.
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Depending on the application segment, the worldwide market has been segregated into texture mapping, maps, navigation, projection mapping, etc. In terms of the deployment mode segment, 3D Mapping & 3D Modelling are conducted either on the on-premises or cloud. Based on the end-user segment, the global market has been categorized into entertainment and media, building and construction, healthcare, automotive, transportation, defense, and others.
Regional Analysis
The 3D Mapping & 3D Modelling Industry grows and functions in different major regions such as North America, Asia Pacific, Europe, and others.
The Asia Pacific regional market is predicted to account for the highest market growth in the research period. This region is fueling the market growth and the increasing demand for modeling, visualization, and imaging sensors.
Apart from that, the North American3D Mapping & 3D Modelling Market Trends is projected to generate the largest market share for the review period. This region is growing the demand for 3D mapping and modeling products due to the growing realistic virtual view of the product demand by government agencies and small and medium businesses. Moreover, the European region is fueling the demand for 3D mapping and modeling products due to the increasing use of the web and the growing adoption of IoT and the cloud.
Industry News
In October 2019, the prominent market leader Saab AB had developed and announced a new aeronautical database solution in collaboration with Vrico. This solution is proposed to improvise the aircraft industry with the commercial availability of elevation data and advanced 3D global terrains.
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