Three dimensional mapping helps creating 3D views of the objects on the computer screens, which makes it a vital part of modern day computer programming. 3D mapping provides lifelike views of a place or objects not to mention their locations on the map. Three-dimensional mapping technology is highly useful in portable GPS devices, which have small screens that can easily display 3D views of roads, and places on the map, making it a vital tool for the travelers and wilderness explorers. Global 3D mapping market is growing at a rapid rate, which the experts expect to continue for the next four to five years. This is a vital sign not only for the existing businesses but also for the potential investor of the market.
Three-Dimensional Mapping Market Synopsis
Basic segmentation in 3D mapping market is based on the types applications and mapping devices. Apart from portable global positioning systems, the market includes products like 3D scanners, cameras, sensors, printers and data acquisition devices. Rapidly growing demand for tablets, smartphones and other 3D enabled devices is a strong driver for the industry. In order to understand the future growth of the market, one needs to study the prevailing market trends, opportunities, challenges, restrains and future investment opportunities in a particular market. Studying the basic segmentation in the industry provides vital details about an industry.
Based on detailed analysis of the 3D mapping market, researchers expect to maintain an impressive compound annual growth rate of over 47% within next four to five years. Precisely, experts forecast the industry of 3D mapping and modeling to grow at a CAGR of 47.99% from 2013 to 2018. According to these figures, the market will become worth $7,734.6 million by 2018. In 2013, the market was worth an estimated $1089.5 million. As far as the segments in the industry are concerned, researchers explain that the industry will maintain strong growth in 3D projection mapping, which will be followed by mapping and navigation.
As far as applications in the major business verticals are concerned, 3D mapping market is anticipated to be dominated by the business verticals like building and construction sector. 3D modeling sector on the other hand is expected to be dominated by healthcare sector. Geographically, North America is expected to remain the dominating region. However, in terms of forecasting, Asia Pacific region will show strong growth and business expansions across different countries of the region.