Technavio Releases New Report on Global 3D Mapping and 3D Modelling Market
By Business Wire News
By Business Wire News
In this report, Technavio’s ICT research experts announce their key market highlights for the 3D mapping and 3D modelling market. Their findings include:
North America has emerged as the largest revenue contributor to the global 3D mapping and 3D modeling market
The 3D mapping and 3D modeling market in North America generated revenues close to USD 1190 million in 2015, growing at a CAGR of around 8% until 2020. The US is the major market for 3D mapping and 3D modeling in North America. The US government uses 3D mapping for GIS (geographical information system) purposes. AutoCAD Map 3D is also increasingly used in the US. For example, the Kansas City Board of Public Utilities uses this technology for the construction of electric utility network assets. The Canadian government uses AutoCAD Map 3D, along with Esri, to speed up map preparation. AutoCAD Map 3D enables the quick generation of maps, with the data loaded from Esri software.
Segmentation of global 3D mapping and 3D modelling market by geography 2015
Europe is the second largest market for the 3D mapping and 3D modeling. The automotive industry is one of the largest end-user industries for 3D mapping and modeling in Europe. The German automotive industry reported a turnover of close to USD 510 billion in 2014, which has helped Germany retain its position as the largest motor vehicle manufacturer and contributor to 3D modeling for automotive in Europe.
3D modeling is finding increasing application in the automotive sector for R&D purposes. For instance, Ferrari, based in Maranello, Italy, uses Autodesk 3D modeling software in the early stages of product development, before prototyping. 3D mapping technology is also widely used across the military sector in Europe, with the UK and France contributing heavily to the growth of the market in this region.
Use of 3D mapping and modeling software in the healthcare sector a major driver of the market
The 3D mapping and 3D modeling market in the healthcare sector is expected to grow at a CAGR of over 9% until 2020. Many healthcare organizations are adopting 3D applications to diagnose cancer, which has led to the increased demand for 3D modeling software. 3D mapping and modeling software is used to map human anatomy and helps in the modeling of surgeries.
“There are many 3D mapping and modeling software geared to the healthcare industry and these are gaining demand. For instance, CARTO 3 is a 3D mapping system that helps electrophysiologists to make treatment decisions. The popularity of this type of software is expected to increase during the forecast period, which will be beneficial for the market,” said Technavio lead ICT research analyst Amrita Choudhury.
Large initial investment a key deterrent dissuading new players from entering the market
The purchase of equipment like LIDAR sensors, aerial photography cameras, and GIS recording tools requires huge initial investment. It is a deterrent for many smaller players trying to venture into the market, thus the threat from new entrants is relatively low. End-users are also largely unaware of the benefits of having mapping and modeling software. Because of these reasons the adoption rate of the software in countries such as India remains lower than the US, Japan, and China. Thus, lack of awareness among end-users will pose a key challenge to the growth of the market during the forecast period.
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