The global 3D mapping and 3D modelling is likely to touch USD 6 billion at a 26% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) analysis. 3D mapping and 3D modelling is the overall process that includes an object’s 3D technology visualisation in the world. It needs recording and recreating objects such as buildings, terrains, and others in the environment and is widely used in navigation, building planning, and other applications.
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Various factors are fuelling the global 3D mapping and 3D Modelling Market Share. As per the recent MRFR market estimates, such factors include the growing need for 3D animation in movies, games, and mobile applications for the improved viewing experience, advancement in technology in 3D sensors and 3D scanners, growing availability of 3D content, and development in 3D equipment like GPS components, scanner and sensor. The additional factors adding market growth include the increasing use of technology in existing mobile application, growing adoption in aerospace, military, and defence sectors, growing need for driver-less cars, metros, and other transport systems, and the introduction of 3D enabled display devices.
On the contrary, lack of investments, impact of the COVID-19 pandemic on the global economy, strict government regulations, increasing piracy and corruption concerns, high installation and technological costs, and lack of advanced software packages may limit the global 3D mapping and 3D modelling market growth over the forecast period.
By region, the global 3D mapping and 3D modelling market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Smart device activities and increasing need for realistic virtual view of the product for marketing purpose by government agencies and small and medium businesses are adding to the global 3D mapping and 3D modelling market growth in the region.
In Europe, the 3D mapping and 3D modelling market is predicted to hold the second-largest share over the forecast period for the increasing use of the web and rising adoption of cloud.
In the APAC region, the 3D mapping and 3D modelling market is predicted to have promising growth over the forecast period and at a high CAGR. The presence of several emerging economies like India, Japan, and China, the adoption of 3D mapping and modelling technology by various verticals like defense, government, engineering and construction, and the presence of various leading players are adding to the global 3D mapping and 3D modelling market growth in the region.
In RoW, the global 3D mapping and 3D modelling market is predicted to have sound growth over the forecast period.
The prominent players profiled in the global 3D mapping and 3D modelling market report include Pixologic, Inc. (U.S.), the Blender Foundation (the Netherlands), Udemy Inc. (U.S.), Mitsubishi Motors Corporation (Japan), Aerolion (U.S.), Applied EarthWorks, Inc. (U.S.), Esri (U.S), Cybercity 3D, Inc. (U.S), Topcon Corporation (Japan), Intermap Technologies (U.S.), Trimble Inc., (U.S.), Autodesk, Inc. (U.S), Google, Inc. (U.S.), Airbus Defence and Space SAS (France), Saab Automobile AB (Sweden), and Apple, Inc. (U.S.), among others.
April 2021- Snap has acquired Pixel8earth, a 3D mapping developer.
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