3D Imaging Market Key Players, Industry Share, Growth, And Forecast To 2030

[sara James]

The global 3D Imaging Market size is expected to reach USD 115.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 18.2% from 2022 to 2030. The 3D imaging technology in the media and entertainment sector has been gaining momentum as the demand for 3D video games and theatrical films have risen tremendously over the years, acting as one of the key drivers in the market.

The COVID-19 pandemic significantly impacted the 3D imaging market. Lockdowns were implemented due to the pandemic that led to a temporary prohibition on import and export and manufacturing across multiple industries. The closure of manufacturing plants resulted in a significant loss of business and revenue for the regions under lockdown. The disruption in global supply chains negatively impacted the sales of products, delivery schedules, and manufacturing in the global market, which led to a notable drop in the sales of 3D imaging.

Mergers & acquisitions, agreements, and expansions are the key strategies adopted by the companies over the past years. For instance, in August 2021, FARO Technologies announced the acquisition of ATS AB, a Swedish-based company in 3D digital twin solution technology. The agreement will include the integration of ATS patented Traceable 3D system and software, which allows highly precise and reproducible 3D scans into the FARO Webshare Cloud system.

Related Press Release@ 3D Imaging Market Report

3D Imaging Market Report Highlights

• In terms of end-use, the healthcare and life sciences segment accounted for the largest revenue share in 2021 and is expected to retain its dominance over the forecast period. The media and entertainment segment is expected to expand at the fastest CAGR over the forecast period
• The automotive and transportation end-use segment is anticipated to expand at a CAGR of 17.5% over the forecast period. The growth of this segment can be attributed to the increasing focus on 3D modeling and designing of vehicles and the growing trend of driverless vehicles
• In terms of deployment, the on-premise segment accounted for the largest revenue share in 2021 and is expected to dominate the market over the forecast period. The cloud segment is likely to expand at a CAGR of 19.7% over the forecast period
• In terms of components, the hardware segment accounted for the largest revenue share in 2021 and is expected to retain its dominance over the forecast period. The software segment is likely to register the highest CAGR of 19.9% over the forecast period due to the increasing demand for and usage of 3D imaging software in a wide range of applications
• In terms of organization, the large enterprise's segment accounted for the largest revenue share in 2021 and is expected to retain its dominance over the forecast period. The small and medium enterprises segment is likely to register the highest CAGR of 19.1% over the forecast period. The growth can be attributed due to the aggressive adoption of 3D imaging technologies to compete with other market players

• North America captured the largest market share in 2021 and is expected to retain its position over the forecast period. Asia Pacific is anticipated to expand at the highest CAGR of 20.8% over the forecast period. The market growth in this region is primarily attributed to the increasing adoption of new technologies in various sectors and growing healthcare and manufacturing industries in nations such as India, China, Japan, and South Korea