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3D Imaging Market Growing at a CAGR 21.5% | Key Player Autodesk, STMicroelectronics, Panasonic, Sony, Philips

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3D Imaging Market Growing at a CAGR 21.5% | Key Player Autodesk, STMicroelectronics, Panasonic, Sony, Philips

May 18
13:52 2020
3D Imaging Market Growing at a CAGR 21.5% | Key Player Autodesk, STMicroelectronics, Panasonic, Sony, Philips

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)
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

MarketsandMarkets forecasts 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. The major growth factors 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.

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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.

The major 3D imaging vendors include 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), and Pix4D (Switzerland). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global 3D imaging market. Partnerships, new product launches, acquisitions, and product enhancements have been the dominating strategies adopted by the major players from 2018 to 2020, which has helped them innovate on their offerings and broaden their customer base.

GE Healthcare (US), a General Electric company business unit, operates through four industrial units: power, renewable energy, aviation, and healthcare. GE Healthcare offers various healthcare solutions and services, such as medical imaging, digital solutions, patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance enhancement solutions. The company’s products and services are manufactured for hospitals, medical facilities, pharmaceutical, and biotechnology companies, and for the life sciences research market. GE Healthcare works with the aim to develop an ecosystem working toward precision health, digitizing healthcare, and improving outcomes across the health system. It operates through two segments: healthcare systems and life sciences. The healthcare systems segment consists of a broad suite of products and solutions used in the diagnosis, treatment, and monitoring of patients in field of imaging, ultrasound, life care, and enterprise software and solutions. The life sciences segment delivers solutions and services for drug discovery, biopharmaceutical industry, and to deliver cellular and gene therapy technologies that scientists and specialists use for discovering new ways to predict, diagnose, and treat diseases. In February 2019, GE Healthcare announced an agreement to sell its BioPharma business within the healthcare segment to Danaher Corporation for total consideration of approximately 21.4 billion.

Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=998

Autodesk (US) possesses significant expertise in the fields of 3D design, engineering, and entertainment software and services offering customers productive business solutions through powerful technology products and services. Autodesk has made a significant impact in the 3D imaging industry through its flagship products, such as 3D animation, 3D Computer-Aided Design software, 3D modelling software, and 3ds Max. These products solve problems related to designing and animation for the media and gaming industry. The company serves customers in various verticals, including architecture, engineering, and construction; product design and manufacturing; and media and entertainment. It also helps clients with their 3D designs, engineering and entertainment software and services that help design, fabricate, manufacture, and build anything by visualizing, simulating, and analyzing real-world performance early in the design process. The company’s solution offerings include various 3D imaging solutions, such as 3D modelling, 3D rendering, and 3D animation, and 3D visualization.

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