Sun, 27 Nov 2022

The 3D mapping and modeling market revenues were estimated at US$ 4.4 Bn in 2021 and are anticipated to grow at a CAGR of 13.8% from 2022-2032, according to a recently published FMI report. By the end of 2032, the market is expected to reach US$ 18.2 Bn. The software has applications in various industries which are adopting 3D mapping and modelling technologies.

Software tools 3D Mapping and Modeling held the largest share in the market and this trend is likely to be continued due to the predicted CAGR of 13.3% in the next ten years. Market growth is expected to be fueled by the growing demand for software tools for 3D mapping and modeling owing to its demand which was being driven by its utility in area like IT, medical and engineering.

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Key Takeaways from the Market Study

  • Global 3D mapping and modeling market is expected to reach a market size of US$ 18.2 Bn by 2032.
  • In 2022, 3D mapping and modeling market value in the U.S. is estimated at US$ 1.8 Bn.
  • Software tools of 3D mapping and modeling held the largest share in the market.
  • Cloud deployment of 3D mapping and modeling is expected to show the highest potential for growth among the deployment modes. It is expected to grow at a rate of about 13% from 2022 - 2032.
  • U.S., being the key market is expected to hold prominent market share and grow at a CAGR of 13.6% during 2022 - 2032.

"The execution of 3D mapping and modeling in virtual reality products in different ventures is expected to develop the clients' interest which can catalyze the market ahead", comments FMI analyst.

What Factors are leading to Growth of the 3D Mapping and Modeling industry?

Growing demand of 3D mapping and modeling in construction industry is one of the key factors driving the market growth. Different areas like medical, civil, automotive, among others, further contributes to the increasing sales of 3D mapping and modeling solutions.

3D mapping and modeling utilized in plotting of streets and buildings, spans, and its expanding attachment with augmented reality applications has kept the demand aloft. Furthermore, entertainment and gaming end-uses have additionally affected the sales of 3D mapping and modeling market. Increasing demand for 3D Animation used in smart technologies will also contribute towards the growth of 3D mapping and modeling revenue during the forecast period.

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Who is winning?

A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.

  • In Sept, 2020, Autodesk announced Navisworks and BIM 360 Integration for Enhanced Coordination Workflows. Navisworks is one of the BIM solutions that serves design and construction users with the ability to completely review integrated models and data for enhanced control over project planning and outcomes.
  • In Nov, 2019, Trimble announced that its browser-based viewer Trimble Clarity is now offered as a stand-alone web application, which has been designed to simplify the visualization and navigation of 3D data

Market Segments Covered in 3D Mapping and Modeling Industry Analysis

By Component:

  • Software Tools

    • 3D Mapping
    • 3D Modeling

  • Services

    • Professional Services
    • Managed Services

By Deployment Mode:

  • Cloud
  • On-premises

By Organization Size:

  • SMEs
  • Large Enterprise

By Vertical:

  • Retail and Consumer Goods
  • Engineering and Construction
  • Healthcare and Life Sciences
  • Transportation and Logistics
  • Government and Defence

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The post 3D Mapping and Modeling Market Value to Grow by Almost US$ 18.2 Billion in 2032 | Future Market Insights, Inc. appeared first on Future Market Insights.

Original Source of the original story >> 3D Mapping and Modeling Market Value to Grow by Almost US$ 18.2 Billion in 2032 | Future Market Insights, Inc.

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