According to a new market research report published by MarketsandMarkets, the 3D imaging market, including 3D modeling, 3D scanning, 3D rendering, layout and animation and image reconstruction, is growing at a CAGR of 26.7% and is expected to reach $9.82 billion by 2018.
The report writes:
Recent trends in the industry show that there is a high demand of 3D imaging in media and entertainment, Defense and Security, Architecture and Engineering and other verticals as well. 3D technology is being implemented in various objects as it provides a more realistic view than 2D. Most of the industries and company that are extensively using imaging are shifting towards 3D imaging technology and its solutions to meet the requirements of today's business and customer needs.
The introduction of enhanced technologies such as 3D image sensors and 3D displays, providing high resolution visuals, is seen to give a boost to the adoption of 3D imaging across various verticals such as defense and security via its usage in simulation, facial identification and target (object, weapons or explosives) detection.
Some of the major players in this market are GE Healthcare, Panasonic, Konica Minolta, HP, Phillips Healthcare, Northrop Grumann, Lockheed Martin, Zebra Imaging and others. The study reports that the global 3D imaging market is expected to grow from $3.01 billion in 2013 to $9.82 billion by 2018, at an estimated CAGR of 26.7% from 2013 to 2018.
In addition, MarketsandMarkets also estimates the global additive manufacturing Market is expected to grow at a CAGR of 13.5% from 2012 to 2017 to reach $3.5 billion by 2017.
"New and improved technologies, financial support from governments, large application area, rapid product development at a low cost, and ease of development of custom products are the major drivers that are slated to propel this market," says MarketsandMarkets. "However, a few pivotal factors restraining the growth of this market are regulatory hurdles in different countries, material characterization during development, and process control and understanding."
Posted in 3D Software
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