3D Scanning Market is expected to garner $5.7 billion, worldwide, by 2021- AMR
A new report by Allied Market Research titled, World 3D Scanning - Market Opportunities and Forecasts, 2014-2021, forecasts that the world 3D scanning market would garner a revenue of $5.7 billion by 2021, registering a CAGR of 13.6% during 2016 -2021. Applications of 3D scanners in industrial manufacturing generated the highest revenue in 2014. Geographically, North America and European markets would be the key revenue contributors, constituting over 65% of the total market revenue throughout the analysis period. Nowadays, 3D scanning technology is gaining increased adoption in different industry verticals due to its improved efficiency, and faster and accurate results. Among different types of scanners, the laser scanners are widely adopted due to their easy portability and low price range. Thus, the industry players are keenly focusing on developing technologically advanced lighter laser scanners for indoor and outdoor applications. For instance, the leading industry player, FARO Technologies, Inc. has recently introduced Freestyle X Handheld Laser Scanner for short range applications in civil and architecture sector. 3D scanners are finding a variety of applications in healthcare sector in magnetic resonance imaging (MRI), X-rays, CT scan and other body scanning processes. Government initiatives to provide enhanced healthcare facilities and medical practices to the populace have led to the increasing adoption of 3D scanners in medical applications. Especially, the short and long range scanners are commonly preferred in these sectors. Besides this, security surveillance is one of the promising applications of 3D scanners at public places. In 2014, reverse engineering services was the highest revenue-generating segment due to their large-scale adoption across various industries such as manufacturing, automobile, and defense. These services benefit the customers in effective analysis and modification of industry specific products. Key findings of the study: 3D scanning market would exhibit a significant growth due to its high efficiency, and faster and accurate results in measurement and imaging applications in different sectors such as industrial manufacturing to healthcare Asia-Pacific and LAMEA regions would exhibit potential market opportunities Reverse engineering services constituted the largest market with nearly one-third share in 2014 Medical & healthcare sector would exhibit the fastest CAGR with increasing application for patient diagnosis in the hospitals Laser scanner segment would continue to maintain the leading position throughout the forecast period The early adoption of technology and presence of a large number of suppliers facilitated to the market growth in North America. However, Asia-Pacific and LAMEA markets are expected to grow at the fastest rate owing to increasing demand from countries such as China and India. The market participants focus on developing smaller and lighter scanners in order to increase their application areas. Recently, the leading players such as FARO Technologies and Creaform have developed handheld laser scanners for a variety of applications in entertainment, healthcare, and automotive sectors.
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