CHICAGO, Dec. 16, 2020 /PRNewswire/ -- According to a research report "3D Mapping and Modeling Market by Component (Software Tools and Services), 3D Mapping Application, 3D Modeling Application, Vertical (Government and Defense, Engineering and Construction, Transportation and Logistics), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size to grow from USD 3.8 billion in 2020 to USD 7.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.0% during the forecast period.
The major factors driving the growth of the 3D Mapping and Modeling Market are the high demand for 3D animation in mobile applications, games, and movies for the enhanced viewing experience, technological advancements in 3D scanners, 3D sensors, and other acquisition devices, increasing availability of 3D content, and the advent of 3D-enabled display devices for better navigation experience. Furthermore, the emergence of AI and Machine Learning (ML) technologies to boost the 3D content accuracy and HD 3D viewing customer experience are expected to provide opportunities for enterprises operating across several verticals in the market.
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The services segment to record the higher growth rate during the forecast period
On the basis of components, the 3D Mapping and Modeling Market is segmented into software tools and services. The services are segmented to grow at a higher rate during the forecast period. The services play a vital role in the functioning of market as the vendors require technical support services and consulting services to manage the effective deployment of these software tools. The services ensure faster and smoother implementation that maximizes the value of enterprise investments. They are an integral step in deploying technology software and are taken care of by software tool and service providers. These services ensure the end-to-end deployment and maintenance of 3D mapping and modeling software tools and address pre-and post-deployment queries as well. These services help companies plan and strategize operations through design, implementation, adoption, and training.
The reporting and virtualization segment to record the highest CAGR during the forecast period
In the 3D Mapping and Modeling Market by 3D mapping application, the reporting and virtualization segment is expected to record the highest CAGR during the forecast period. The market is segmented on the basis of 3D mapping applications such as, inspection and measurement, object reconstruction, projection and navigation, virtualization, and others (disaster, infrastructure, asset, and property management). Increasing demand for better visualization of 3D content to drive the growth of reporting and virtualization applications. Virtualization is the process by which graphical content is created using 3D software. The technology is being adopted by organizations to produce high-quality digital content. It helps 3D artists create spectacular visualizations that can be used in any industry. Real-time vitalization achieved via 3D mapping enables customers to better understand the designs and models.
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North America to hold the largest market size duringthe forecast period
North America is expected to hold the largest market size in the global 3D Mapping and Modeling Market during the forecast period. The key factor favoring the growth of the market in North America is the increasing demand for the enhanced customer viewing experience to strengthen customer retention initiatives. Europe is expected to be in the second position in terms of market size and market share during the forecast period. The growing demand to reduce enterprise workloads related to internal and external communication monitoring is boosting the adoption of 3D mapping and modeling software tools in Europe. APAC is expected to record the fastest growth rate during the forecast period. The market is expected to witness considerable developments and adoption of software tools across APAC during the forecast period. The increasing number of players across different regions is further expected to drive the 3D Mapping and Modeling Market.
Market players profiled in 3D Mapping and Modeling Marketinclude Autodesk (US), Saab AB (Sweden), Golden Software (US), Trimble (US), Bentley Systems (US), Alphabet (US), Intermap Technologies (US), Airbus (The Netherlands), Esri (US), CyberCity 3D (US), Topcon (Japan), DassaultSystèmes (France), Adobe (US), Pix4D (Switzerland), Pixologic (US), Flight Evolved (US), MAXON (Germany), Onionlab (Spain), The Foundry Visionmongers (UK), Mitsubishi Electric (Japan), Apple (US), WRLD (UK), GeoDigital (US), GeoSLAM (UK), Mapbox (US), DeepMap (US), Civil Maps (US), Hivemapper (US), Ivl5 (US), Shapr3D (Hungary), Innersight (UK), Astrivis (Switzerland), Pointivo (US), and Dynamic Map Platform (Japan).
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