Selbyville, Delaware, Oct. 03, 2023 (GLOBE NEWSWIRE) --
The 3D mapping and modeling market is estimated to cross USD 18.7 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing emphasis on sustainability and the surging number of green initiatives are major factors accelerating the market development. The rising regulatory and government efforts for reducing the environmental impacts of 3D mapping and modeling technologies is driving the popularity of eco-friendly materials and energy-efficient processes. For example, in July 2022, the Canadian Government invested $8 million in Ecopia AI for creating high-precision 3D Map of Canada for supporting net-zero initiatives. The surging deployment of 3D land mapping for land profiling of work sites for bringing transparency in better monitoring of projects is another emerging trend contributing to the industry growth.
The 3D mapping and modeling market from the cloud segment is likely to hold substantial market share by 2032. Driven by their accessibility, scalability, and collaborative capabilities, cloud-based 3D mapping and modeling technologies are deployed in numerous applications, including real estate, gaming, infrastructure management and mining. With the rapid rate of urbanization, city planners and architects are using cloud-based 3D mapping solutions to create accurate as well as detailed representations of urban areas. Increasing application scope in the healthcare sector for surgical planning will also anchor the market growth. For instance, in January 2021, Royal Philips integrated cloud-driven AI and 3D mapping into its mobile Zenition c-arm system series for enhancing the workflow efficiency and endovascular treatment outcomes.
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The 3D mapping and modeling market from the maps and navigation segment will expand significantly by 2032. 3D mapping and modeling solutions are increasingly preferred for improving maps and navigation with more comprehensive as well as visually engaging representation of the environment. They also assist in enhancing the user experience while helping to make informed decisions while exploring, traveling and planning various activities. In May 2023, Google Maps announced its plans to launching 3D map experience to 15 cities across the globe. The surge in such navigation initiatives will prove favorable for the market demand.
3D mapping and modeling market from the automotive end-use segment is projected to grow substantially through 2032. The growth can be attributed to the rising focus on bringing advancements in vehicle safety and performance along with the growing preference for autonomous driving. To cite an instance, in February 2022, Bosch acquired high-resolution 3D mapping specialist Atlatec to develop SAE Level 3 to 4 automated driving functions for expanding its expertise and strengthening its market position. The increasing popularity of electric vehicles and the rising rollout of sustainability initiatives will support the market expansion.
Europe 3D mapping and modeling market is expected to reach USD 4 billion by 2032, owing to the surging popularity of autonomous vehicles. In April 2022, Germany completed the legal framework for autonomous driving. The significantly expanding aerospace and defense industries in the region is driving the adoption of 3D mapping and modeling for aircraft design, maintenance, and simulation. Moreover, the growing advancements in LiDAR technology to match the increasing requirements for urban planning and environmental monitoring will also drive the regional industry expansion.
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Some of the leading companies operating in the 3D mapping and modeling market include Adobe, Airbus, Onion Lab, Autodesk, Bentley Systems, CyberCity 3D, Topcon, Golden Software, Esri, Geodigital, MAXON, Mitsubishi Electric, Saab AB, Trimble, and WRLD. These firms are placing targeted efforts on partnership and expansion initiatives for reinforced global presence. For instance, in September 2022, Bentley Systems joined forces with leading geospatial content services provider, Genesys International for offering 3D mapping capabilities to major cities across India. The collaboration will assist to create as well as curate city-scale digital twins for empowering government and private entities in India to enhance their efficiency, execution, and strategizing capabilities through 3D data.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 3D mapping and modeling market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 Application trends
2.6 Deployment model trends
2.7 End use trends
Chapter 3 3D Mapping and Modeling Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Growing urbanization and infrastructure development
3.10.1.2 Increasing adoption of autonomous vehicles
3.10.1.3 Rising use of 3D mapping and modeling in disaster management and response
3.10.1.4 Rise in industry 4.0
3.10.1.5 Growing popularity of virtual reality
3.10.2 Industry pitfalls & challenges
3.10.2.1 Complexity and skill gap
3.10.2.2 Stringent government regulations and lack of investments
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
