Global 3D imaging Market is forecasted to reach $26 billion by 2024 from $5 billion in 2016; growing at a CAGR of 23.7% from 2016 to 2024. The 3D imaging market is majorly driven by the following driving factors such need for modernization of technology in various sectors, adoption of 3D imaging technology in various consumer electronics and introduction of technology in numerous industries such as media & defence. However, high price of 3D imaging machines might hinder the growth of the market. Furthermore, increasing R&D buy various manufacturers for introduction of 4D technology would provide growth opportunities for the market.
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Products type, application, end-use industry and geography are the key segments of the global 3D imaging market. Product type segment has been segmented into sonography (ultrasound and sonars), 3D cameras (time of flight, structured light and stereo vision), smartphone and others. A 3D cameras was the leading sub segment with highest market share in 2016 with 44.2%. Additionally, application segment into layout & animation, 3D modelling, 3D rendering, 3D scanning, and image reconstruction.3Dscanning and layout & animation dominated the applications segment, with market share of 34% and 21.1% respectively in 2016.
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The global 3D imaging market by geography is bifurcated into North America, Europe, Asia-Pacific and RoW. North America held the highest market share of 37.4% in 2016, driven by adoption of 3D technology into various industries. In terms of growth rate, Asia-Pacific region is anticipated to grow at the fastest CAGR of 25.1% over the forecast period, owning to the increasing various disease knowledge and increasing investments to improve healthcare infrastructure.
Various strategies have been adopted by the market players to boost their geographical presence and product portfolio. For instance, in January 2017, Siemens Healthineers and Biogen announced agreement to jointly develop new MRI tools for multiple sclerosis. The major players in the 3D imaging market include Apple Inc., Microsoft Corporation, Google Inc., North Grumman Corporation, Toshiba America Medical Systems Inc., Siemens Healthcare, Stemmer Imaging Ltd., Sony Corporation, Konica Minolta, Inc., TomTec Imaging Systems GmbH, Lockheed Martin Corporation and Frontop Digital Technology Co.
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