3D Scanning Market to hit $10bn by 2024

Drivers of 3D Scanning Market growth including regional trends, factors driving multiple segments of 3D Scanning industry and companies vying for a pie of the market share and size are discussed at length in this new report by Global Market Insights, Inc.

3D Scanning Market size is set to exceed USD 10 billion by 2024; according to a new research report by Global Market Insights, Inc. The 3D scanning market growth can be credited to the growing implementation across several application areas. Industries are implementing the 3D scan-to-print solutions which is projected to transform the design-to-manufacturing processes.

There has been increased 3D scanning market adoption in Augmented Reality (AR) and Virtual Reality (VR) headsets over the years. These technologies offer advanced visual effects, CGI creation and scanning of real world locations, which is enhancing game play and is creating real life situations. With the rise of VR, the technology has become prominent in the entertainment & media industry and is widely being used for scanning of sports venues and development of video games thereby boosting the 3D scanning market demand. The non-contact feature of the systems offers numerous advantages in heritage preservation and is capturing specific customer base, which is helping widen the growth potential.

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In North American economies, the lucrativeness of the 3D scanning market is owing to the R&D strategies which are being undertaken in the region for product innovation. Speedy technological advancements to develop innovative products such as 3D digitization have the skill to render rapid scanning techniques which is anticipated to drive the industry growth. It is projected that the U.S. 3D scanning market will grow at a fast pace owing to rising demand and adoption in the automotive & aerospace industries.

The 3D laser scanner market is projected to hold the highest share over the forecast timespan owing to the profitable opportunities it is offering to increase the business exposure and help generate sales. The success of 3D laser scanners can be attributed to its features such as high degree of accuracy and real-time visualization. Many companies and businesses, irrespective of the industry domains, are employing the usage of 3D laser scanners to improve data collection and project outcomes.

Depending on the distance between the object and the scanner, scanners of different ranges are present in the 3D scanning market. Wide applications from architecture and construction industry is driving the demand of these scanners. Short range scanners are widely used when the distance between the object to be scanned and the scanner is less than one meter. The demand for these products is largely driven by applications from automotive and healthcare segments, where precision needed is of the utmost importance.

These devices are gradually being used in industrial manufacturing for high precision measurement and defect detection before mass manufacture of products. The growth of the 3D scanning market in industrial manufacturing can be majorly attributed to the implementation in automotive designing & manufacturing, material processing, and plant inspection applications. In addition, the usage of these technologies in industrial production has helped improve efficiency.

Key players participating in the 3D scanning market include Basis Software Inc, 3D Digital Corp., Steinbichler, 3D Systems, Ametek, Hexagon AB, Creaform, FARO Technologies, Inc and Autodesk Inc. The industry is facing numerous challenges due to intense competition among competitors, growing end-user preferences, and availability of cost-effective alternatives to the technology. Rise in the number of applications in the industry has led to businesses working across the ecosystem to participate in developing innovative technologies, thereby resulting in high growth opportunities.

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