3D scanning market size to grow at a CAGR of 13.3% from 2014 to 2020: Grand View Research, Inc

The global 3D scanning Market is expected to reach USD 4.90 billion by 2020 on account of increasing requirement from numerous applications. Rapid technological advancements to develop innovative products including 3D digitization that have the ability to render high resolution and rapid scanning techniques are expected to have a positive impact on growth.

Need to preserve the historic edifice and aging infrastructure with historical significance worldwide are projected to have a positive influence on the industry. Growing demand from software solution suppliers and hardware manufacturers is expected to augment growth. Technology has become more accessible to professionals owing to continuous enhancements which result in driving sales thereby propelling demand in the market. However, high-priced scanners are expected to impede the 3D scanning industry.

Laser scanners were the leading product segment and contributed to over 60.0% of the overall market in 2013. The structured light product sector is projected to gain prominence over the forecast period owing to numerous applications in varied segments on account of its ability to create rapid prototypes with great accuracy and precision.

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Short range scanners occupied the largest market share in 2013. New techniques including structured light and laser triangulation that has a focal distance less than a meter are estimated to drive growth over the forecast period.

The industrial manufacturing segment accounted for over 30.0% of the overall market revenue owing to numerous advantages including improved accuracy and compatibility offered by the product. Also, it also allows better worker safety across multiple applications for widespread data capture, thus propelling the industry.

3D scanners can effectively scan virtual medium online and represent art pieces in a virtual museum set up. The introduction of 3D portable scanners is expected to witness growth owing to its growing demand in archeology sector which aims at preserving and archiving architectural pieces from museums. The industry is projected to grow on account of various reverse engineering techniques that have the ability to preserve remains and virtual restoration

The upsurge in 3D media and content along with technological improvements have resulted in high-resolution videos and high-quality images owing to growth in new product launches, thus driving demand. The smartphone industry has witnessed significant growth due to device up gradation by original equipment on account of their 3D imaging capabilities.

Europe emerged as the dominant region in the industrial sector and is anticipated to impact positively regional growth over the forecast period. Key market players include Maptek, Topcon, FARO Technologies, Ametek (Creaform), 3D Digital Corp. and Basis Software Inc (Surphaser). Key growth strategy involves technological innovations and development of cost-efficient devices. The market is identified by mergers and acquisitions and intense competition in software and hardware segments. Companies cater to industries including manufacturing, aerospace, research & education and consumer products.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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