3D Mapping and Modeling Market will reach $6.5 billion by 2023

According to a new market research report "3D Mapping and Modeling Market by Component (3D Mapping & 3D Modeling), Application (3D Projection & Navigation, Product Marketing), Vertical (Media & Entertainment, Construction & Engineering), and Region - Global Forecast to 2023", The 3D mapping and modeling market size is expected to grow from USD 2.8 billion in 2018 to USD 6.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period. Increasing use of 3D animation in mobile applications, games, and movies; advancements of 3D scanners, 3D sensors, and other acquisition devices; increasing availability of 3D content; and advent of 3D-enabled display devices are the major factors driving the growth of the 3D mapping and modeling market.

Browse 55 market data Tables and 42 Figures spread through 136 Pages and in-depth TOC on "3D Mapping and Modeling Market by Component (3D Mapping & 3D Modeling), Application (3D Projection & Navigation, Product Marketing), Vertical (Media & Entertainment, Construction & Engineering), and Region - Global Forecast to 2023"

The 3D projection and navigation application of 3D mapping to grow at the highest CAGR during the forecast period

3D projection is gaining popularity rapidly. 3D projection is an audio-visual mapping in which the videos and audios are projected on real surfaces, such as buildings, cars, and concert stages. It is an evolving technology that maps 3D points to a 2D plane and adds animation to stationary objects and architectures. This technique is used by video artists to match videos to buildings that they are projecting on and create interesting 3D effects.

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The government, aerospace, and defense vertical to grow at the highest CAGR during the forecast period

Geospatial applications combine real-time data, 3D visualization, and dynamic mapping. It helps defense, aerospace, and security organizations improve geospatial intelligence and situational awareness across domains. It has become indispensable for national security, military, and other agencies, gathering intelligence information. The applications include continuous surveillance and monitoring programs (for example, border security and domain awareness), crisis intervention activities, broad area mapping, and 3D modeling and situational awareness. The 3D mapping and modeling technology is widely used for activities pertaining to the government industry. For example, The Bureau of Land Management (BLM) in the US uses 3D models, viewable in Google Earth, to plan, visualize, and mitigate new landscape-altering projects.

APAC to grow at the highest CAGR during the forecast period

Across the APAC region, there are several prosperous economies with well-developed cyber ecosystems, such as India, China, Australia, Singapore, and Japan. APAC has witnessed advanced and dynamic adoption of new technologies. The region is also undertaking aggressive initiatives to leverage the IT infrastructure, enabling commercial users to adopt cutting-edge technologies. This region is expected to experience the highest growth rate, driven by western organizations, establishing and maintaining production facilities in Asia due to economic factors. The growth in the APAC region can also be attributed to growing economies, where businesses are rapidly adopting 3D mapping and modeling to innovate their products.

The major vendors in the 3D mapping and modeling market are Vricon (US), Airbus (Netherlands), Autodesk (US), Bentley Systems (US), Alphabet (US), Trimble (US), Intermap Technologies (US), Esri (US), CyberCity 3D (US), Topcon (Japan), Dassault Systèmes (France), Adobe (US), Pix4D (Switzerland), Pixologics (US), Flight Evolved (US), MAXON (Germany), Onionlab (Spain), The Foundry Visionmongers (UK), Mitsubishi Electric (Japan), and Apple (US).

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MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche