HYDERABAD, India and MINNEAPOLIS, March 7, 2016 /PRNewswire/ --
According to the Market Report "3D Scanning Market Analysis - By Technology (Laser Scanner, Machine Vision, Coordinate Measuring Machines); By Application (Reverse Engineering, Inspection, Digital Archiving); By End Use Industry (Automotive, Medical, Consumer) - Forecast 2020", published by IndustryARC, the market is estimated to reach $11 Billion by 2020 at a high CAGR.
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Browse - 30 Market Tables, 108 Figures spread through 174 Pages and an in-depth TOC on "3D Scanning Market"
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3D Scanning is a simple method of building virtual models of objects by undertaking physical measurements of the object. This process is quick and accurate and the device that facilitates the capturing of 3D scan information is called a 3D scanner. The data generated from this scanning is utilized in building virtual models of the object to augment the required attributes. The 3D scanning is a fast growing industry where improving technological capabilities are set to significantly impact the growing applications for these products.
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According to a recent study from IndustryARC, the 3D Scanning Market generated revenue of $8.8 Billion in 2015 and is projected to grow at 4.7% CAGR through 2020. The 3D scanning market is exhibiting high growth due to increased adoption in education and consumer electronics industries as well as a launch of new products with improved functionality and features. Re-engineering is a process in which the products are replicating with respect to the existing products. While re-engineering products, 3D scanners are playing a vital role and used to record precise measure geometry of the entity/product by using lasers or structured light. Millions of data pointers are recorded by the 3D scanners in milliseconds that are known as 'point-clouds'. Further, the data pointers are used by the 3D software to produce 3D-depiction of a scanned entity for higher enhanced throughput, productivity, inspection, modification and in-depth analysis.
In 2014, manufacturing is the primary end use industry segment accounting for the largest share followed by the aerospace segment. The growing demand for rapid prototyping and 3D scanning in inspection applications in these industries is set to drive adoption of 3D scanning devices in order to improve the cost and time to market. The key driver is, however, the growing applications and technological advancements in the aerospace industry. This creates a bigger potential market for 3D scanning resulting in higher growth. The education segment is forecast to exhibit the highest growth as 3D scanning is set to be utilized in medical, engineering, art and architectural education fields to create and learn using digital models of products allowing students a more interactive educational process.
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Risk Mitigation in Execution of Projects
Risk mitigation is the foundation for a successful capital project execution. While implementing the projects, the costs or schedule are bound to overrun due to either inadequate documentation or control procedures. 3D scanning is hence a proven method for containing such risk factors for a brownfield project or revamping projects along with deployment of modular construction methods where schedule sensitivity is an inevitable requirement. Laser Scanning has been instrumental in reducing the installation costs by 6-8% and schedule contraction by 10%. Apart from containing such costs and schedule factors, 3D scanning has become a vital aspect in analysing the design and engineering plans to evaluate conflicts in the existing conditions along with better alternatives. Moreover, the 3D scanning methods ensures that project stakeholders are equipped with better situations to be compliant with the safety and regulatory measures. All these factors are estimated by IndustryARC to be the primary contributors for the implementation of 3D scanning measures in large scale industrial plants.
Americas Market is the Biggest Market in 2014 with Revenue of $3.12 Billion followed by APAC. The APAC region is poised to grow at a very high CAGR due to the high adoption of 3D scanning, particularly laser scanners for consumer products designing. The increasing innovation in technology and growing awareness regarding the capabilities of 3D scanning are set to propel the adoption. The Europe region is projected to exhibit slow growth as economic uncertainty combined with low growth in manufacturing and automotive sectors hinders the market.
The Key Players Analyzed in the 3D Scanning Market are:
The Global 3D Scanning Market Report provides detailed analysis of the different types of 3D scanners based on technology type, applications, end use industries and range of the scanners.
The 3D Scanning Market is analyzed across various industries in the Report:
The 3D Scanning Market Segmented by Geography:
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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