As per the report published by Fior Markets, the global 3D mapping and modeling market is expected to grow from USD 4.13 billion in 2020 to USD 14.25 billion by 2028, at a CAGR of 16.75% during the forecast period 2021-2028.
The act of generating and visualizing objects in three dimensions is known as 3D mapping and modeling. While mapping is used to produce 3D views of things, modeling uses specialist software to build a 3D model of the target item. Polygonal modeling, splines, patches, primitive modeling, and Non-uniform rational basis spline (NURBS) modeling are all examples of 3D modeling techniques. Construction, automobiles, transportation, healthcare, and entertainment are just a few businesses that employ 3D mapping and modeling. The method is used to develop vehicles like automobiles and trucks in the automation sector. It’s also utilized in healthcare to examine the human body since it gives a better picture of the various bodily components. 3D mapping and modeling are also used to create a three-dimensional picture of any structure or construction site in the construction sector. These approaches are utilized in the entertainment industry to generate animated models of movies or games and give a virtual perspective of a movie theatre.
Furthermore, introducing Ai and Ml technologies to improve 3d content accuracy will provide further possibilities for the 3D mapping and 3D modeling industry to develop in the following years. Despite this, tight regulatory rules and a lack of investment may hamper the market’s growth soon.
The COVID-19 epidemic has had a significant influence on markets and customer behavior, and economies and communities. With offices, educational institutions, and manufacturing facilities closing indefinitely, extensive sports and events being postponed, and work-from-home and social distance rules in place, businesses are increasingly seeking technology to help them get through these trying times. Analytics specialists, business intelligence professionals, and people with advanced analytics knowledge such as AI and ML are needed to assist executives in making business choices about responding to new business difficulties brought on by the COVID-19 epidemic.
Key players operating in the 3D mapping and modeling market are Airbus S.A.S., Alphabet Inc., Intermap Technologies, CyberCity 3D Inc., Autodesk Inc., Maxar Technologies, BENTLEY SYSTEMS, Mitsubishi Electric Corporation, FLIGHT EVOLVED, Maxon Computer GmbH. To earn a significant market share in the workplace safety market, the key players now focus on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In April 2020, 3Ds Max 2021 is launched by Autodesk. By exploiting performance advancements, the company’s current edition focuses on rendering and texturing. Support for Python 3, scriptable baking, and a greater focus on CAD-related processes and compatibility with Autodesk CAD products like AutoCAD and Revit were also included in this release.
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Software segment dominated the market and held the largest market share of 61.38% in the year 2020
On the basis of components, the 3D mapping and modeling market is segmented into software and service. The software component segment dominated the 3D mapping and modeling market and held the largest market share of 61.38% in 2020. Individuals may create 3D maps and models with the help of the program. Due to the rising use of animated content and 3D software tools, and the developing gaming sector, there is a growing need for 3D maps and models throughout the world. The use of visual material for marketing and promotional purposes is also one of the elements driving the 3D mapping and modeling market forward. Individuals may use 3D mapping software to design, create, and visualize a geographic model of a location on a display surface using spatial mapping and 3D modeling software to design, build, and imagine a 3D model of a specific object using 3D modeling software.
Engineering and Construction segment dominated the market and held the largest market share of 41.37% in the year 2020
On the basis of vertical, the 3D mapping and modeling market is segmented into engineering and construction, government and defense, transportation, and logistics. The engineering and construction vertical segment dominated the 3D mapping and modeling market and held the largest market share of 41.37% in 2020. Computer-generated buildings and landscapes may be built with the assistance of 3D mapping and modeling technologies. Time is saved by using CAD and 3D modeling techniques, which allow for a more concise perspective of the project, landscape, or building site. Using 3D technology, the ultimate product to be created may be viewed regarding its length, width, height, and realistic 3D virtualization. It can be used to watch simulations with precise details of the structure to assess its feasibility.