by The 3D scanning market consists of software and hardware tools used to digitize physical objects creating 3D representations. 3D scanners are used across various industries for applications like manufacturing, healthcare, entertainment, and construction to create prototypes, record architectural structures or capture crime scene evidence.
The global construction industry has been witnessing steady growth due to increasing infrastructure development projects worldwide. 3D scanners help architects and contractors convert physical structures into digital 3D models facilitating cost-effective planning and renovation of buildings. The 3D models also aid in structural analysis, virtual walkthroughs, and asset management. The global 3D Scanning Market is estimated to be valued at US$ 2503.2 Bn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key Trends:
The integration of 3D scanning technology with artificial intelligence and robotics is a key trend in the market. AI-powered 3D scanners automate various processes like data collection, object alignment, and model optimization to produce more precise and complex digital representations. They are used for tasks like surveying construction sites or agricultural fields. Robotics is enabling the use of portable 3D scanners in hazardous environments like nuclear plants or waste cleanup sites eliminating risks for human workers. Advances in hardware such as miniaturization and wireless connectivity are also favoring the uptake of 3D scanners in mobile applications. Continuous technology upgrades and the advent of augmented reality and virtual reality workflows are further expanding the applications of 3D scanning.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the 3D scanning market is low due to the presence of established players and the need for high R&D and brand.
Bargaining power of buyers: The bargaining power of buyers in the 3D scanning market is moderate as the technology provides several cost advantages to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitutes and differentiated products.
Threat of new substitutes: The threat of substitutes is low as 3D scanning provides unique advantages over traditional methods that are difficult to substitute.
Competitive rivalry: The competitive rivalry in the 3D scanning market is high due to the presence of many global and regional players providing differentiated products.
Key Takeaways
The global 3D Scanning Market Growth is expected to witness high growth over the forecast period supported by rising adoption across industries.
Regional analysis:
The market in North America is expected to dominate the 3D scanning market during the forecast period supported by strong technical adoption. In Asia Pacific the market is expected to witness fastest growth supported by growing industries.
Key players operating in the 3D scanning market are McAfee, LLC, AO Kaspersky Lab, Bitdefender, FireEye, Inc. and Malwarebytes. The key players focus on developing innovative products to cater to growing demand from industries. They also adopt strategies such as partnerships, mergers, acquisitions, product launches to strengthen their presence in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
