The market size of 3D Mapping and Modelling was valued at $ 4.1 billion in 2020 and expected to grow at a CAGR of 18.2% during the forecast period 2020-2025 anticipated reaching $614.35 million in 2025.
The high demand for 3D animation in smartphone apps, games, and movies for improved viewing experience, technical developments in 3D scanners, 3D sensors, and other acquisition devices, the availability of 3D content, and the introduction of 3D-enabled display devices for better navigation experience are the key factors driving the growth of the 3D mapping and modelling industry. In addition, the advent of AI and Machine Learning (ML) technology to improve the accuracy of 3D content and user experience with HD 3D viewing is expected to create opportunities for companies operating in the 3D mapping and modelling industry across multiple verticals.
What is 3D Mapping and Modelling?
3D Mapping and Modelling can be referred to as a technology used to build 3D environments. It is a time-saving technique and allows to get a crisp view of the project, scenery, or building site from computer-generated files. A 3D model allows to consider the material needs and the projected project costs for an architect. The technology assists in the simulation of the project's prototype to grasp the organisation.
North America is expected to hold the largest market size in the global 3D mapping and modelling market during the forecast period.
Increasing demand from small and medium companies and government departments for a practical simulated view of the product for marketing purposes will fuel demand for North American 3D mapping and modelling products.
Any of the factors driving demand growth in Europe are increasing cloud and IoT adoption and increasing online usage.
During the forecast period, APAC is anticipated to record the highest growth rate. It is anticipated that the adoption of 3D mapping and modelling technologies by various verticals, such as engineering and development, and government and defence, will lead to market growth in the APAC region.
Significant growth in Building and Construction:
In addition, the advent of AI and Machine Learning (ML) technology to improve the accuracy of 3D content and user experience with HD 3D viewing is expected to create opportunities for companies operating in the 3D mapping and modelling industry across many verticals.
In addition, 3D models allow users to participate in improved urban planning and evaluate the possible effect of new building developments on the environment. AI technology consists of numerous building block technologies, including ML, deep learning, and Natural Language Understanding (NLU), which create data analysis algorithms and find models that predict effects or understand the context with considerable accuracy and increase the quality of existing data. Big data applications and services focused on AI support industry verticals with the automation and early detection of illegal practises that can be stopped by predictive modelling. In order to incorporate different features, businesses such as Google are now using AI, such as image recognition, suggestions, prediction, and improving its accuracy and performance. The same can be seen in 3D sensing for other firms to maximise prospects.
Stringent government regulations and lack of investments
The lack of investment in resources hinders the development of the market for 3D mapping and modelling. Insufficient availability of funds inhibits R&D operations, training staff, and the procurement of advanced technology. Investment in the implementation of the new technology guarantees the productivity of the job environment and improves the industry's amount of prospects. Slow return on investment (ROI) in the animation industry is one of the key factors for the poor attraction of investors. As a result, private investors are hesitant to enter the market for 3D imaging and modelling.
Increasing corruption and piracy concerns
Abuse and threats of piracy continue to be revealed to the animation industry.. Companies have developed detection and monitoring systems to inhibit the illicit download of 3D mapping and simulation tools in order to control piracy... In fact, this has facilitated the use of legitimate digital content for consumers.
Flexible business plans need to be implemented, however, to develop prevention techniques and take aggressive action by creating anti-piracy cells and spreading awareness.
Key Markets Players:
3D Mapping and Modelling Market Coverage
Component Insight and Forecast 2015-2025
3D Mapping Application Insight and Forecast 2015-2025
3D Mapping and Modelling Market by Region
Rest of the World (RoW)