3D Mapping And Modeling Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global 3D Mapping And Modeling Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The 3d mapping and modeling market size has grown rapidly in recent years. It will grow from $6.83 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to urbanization and infrastructure development, surge in aerial and satellite imagery, increased applications in geographic information systems (gis), cultural heritage preservation, entertainment and gaming industry adoption, precision agriculture.

The 3d mapping and modeling market size is expected to see rapid growth in the next few years. It will grow to $15.66 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to advancements in computer graphics, increasing data processing capabilities, expansion of smart cities initiatives, global expansion of e-commerce and logistics, increasing security and defense applications. Major trends in the forecast period include integration of lidar technology, drone-based 3d mapping, remote sensing technologies, digital twin concept adoption, big data analytics, open-source mapping tools.

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Market Drivers and Trends:

The increasing construction industry is expected to drive the growth of the 3D mapping and modeling market forward. The construction industry refers to a wide range of activities related to the planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. 3D mapping and modeling are used in the construction industry to enhance efficiency, accuracy, and collaboration throughout the project lifecycle, enable stakeholders to make informed decisions, reduce risks, and contribute to the successful execution of construction projects. For instance, in September 2023, according to reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, global construction output in 2020 stood at US$10.7 trillion. It is projected to experience substantial growth of approximately 42%, adding US$4.5 trillion and reaching a total of US$15.2 trillion by the year 2030. Therefore, the increasing construction industry is expected to 3D mapping and modeling market.

Technological advancements are the key trends gaining popularity in the 3D mapping and modeling market. Major companies operating in the 3D mapping and modeling market are focused on developing new technological solutions using augmented reality (AR) to strengthen their position. In augmented reality (AR), information in text, pictures, audio, and other virtual additions are combined with actual things in real time. For instance, in April 2022, Nextech, a Canada-based metaverse company specializing in augmented reality solutions, spatial mapping, and 3D models, launched its AR Spatial Mapping platform, ARitize Maps. This program is a complete tool for creating the Metaverse and the first end-to-end Metaverse mapping solution for both consumers and businesses. Augmented reality mapping, localization, and simple drag-and-drop of AR material, including navigation and the ability to view 3D models in a user's constructed map, are new capabilities of the app included with the launch.

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Major Key Players of the Market:

Vricon, Airbus SE, Autodesk Inc., Bentley Systems Inc., Trimble Inc., Intermap Technologies Corp., ESRI Inc., Cybercity 3D Inc., Topcon Positioning Systems Inc., Pixologic Inc., Alphabet Inc., Dassault Systèmes SE, Adobe Inc., Pix4D SA, Nemetschek Group, Mitsubishi Electric Corporation, Apple Inc., Mapbox Inc., Saab AB, The Foundry Visionmongers Ltd., PTC Inc., Parrot Drone SAS, Delair Group, Artec Group, Blue Marble Geographics, ClearEdge3D Inc., DroneDeploy Inc., Eonite Perception Inc., Faro Technologies Inc., Verisk Analytics Inc.

3D Mapping And Modeling Market 2024 Key Insights:

• The 3d mapping and modeling market size is expected to see rapid growth in the next few years. It will grow to $15.66 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%.
• Surging Availability Of 3D Content Fuels Growth In The 3D Mapping And Modeling Market
• Technological Advancements Drive Momentum In The 3D Mapping And Modeling Market
• North America was the largest region in the 3D mapping and modeling market in 2023

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This release was published on openPR.