|06-15-2018 08:19 AM CET - Advertising, Media Consulting, Marketing Research||
3D Mapping and 3D Modeling Market - Increasing Demand For 3D Mapping and Modeling Solutions In Various Industry Verticals
Press release from: Transparency Market Research
3D mapping and 3D modeling solutions are used across various end-user industries such as video entertainment industry, construction industry, healthcare industry, automobile industry, and transportation industry. 3D Mapping market can be broadly classified based on their applications as 3D projection mapping, mapping and navigation, and other applications such as video gaming, automobiles and healthcare. In recent years, the global 3D mapping and 3D modeling market has experienced a surge in demand owing to increase in demand for 3D maps and 3D models.
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The shift from 2D mapping and modeling to advanced 3D maps and models has aided the growth of global 3D mapping and modeling market. The technological innovations and developments in the 3D mapping and modeling tools and devices such as the 3D sensors, 3D scanners and the geographical positioning systems are currently driving the market. Integration of 3D mapping and modeling technology with electronic devices such as smart phones, personal navigation devices (PNDs) and game consoles has necessitated companies such as Google Maps and Here Maps to develop new solutions and update features to increase their customer base. However, format issues related to 3D modeling such as STL file format, that results in confusion about the size of the object is one of the factors inhibiting the market growth.
The global 3D mapping and modeling market is primarily driven by increasing demand for 3D mapping and modeling solutions in various industry verticals such as retail, advertising, defense and public safety. 3D maps are used for creating topographies of combat areas used for defense and public safety. Similarly, 3D projection mapping is used in the advertising and retail industry for promotional activities and marketing of brands. Additionally, mapping and navigation technology makes use of 3D maps extensively. Mapping and navigation systems that utilize 3D Mapping technology are used in automobiles and electronic devices such as laptops, smart phones, notebooks and tablets for navigation applications. The global 3D mapping and modeling market was valued at USD 2,916.8 million in 2013 and is expected to grow at a CAGR of 6.4% during the forecast period.
Construction industry was the highest revenue contributor in 2013 and is expected to retain its dominance throughout the forecast period. The global market for construction industry is anticipated to grow at a CAGR of 8.0% from 2014 – 2020. The growth is majorly attributed to increasing use of 3D maps and models for visualizing construction models and sites before the initiation of actual process. Thus, the proposed development of smart cities is likely to drive the 3D mapping and modeling market during the forecast period. Likewise, across the transport industry, the mapping and navigation applications are driving the demand for 3D mapping market.
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Geographically, North America was the largest market for 3D mapping and modeling and accounted for 36.5% revenue share of the total market in 2013. With increasing demand for high resolution accurate 3D geospatial data, there has been a surge in 3D mapping solutions being used for developing 3D city models. These 3D models are currently used to visualize future construction projects, for urban planning, and restructuring of ancient buildings, forts and castles. Moreover, the technology is utilized in analysis of various simulation scenarios such as disasters and traffic control. In light of these developments, 3D mapping and modeling market is expected to witness growth traction during the forecast period.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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