3D scanning market to be worth $4.08 billion by 2018: report

The global 3D scanning market is expected to grow from an estimated $2.06 billion in 2013 to $4.08 billion by 2018, at an estimated compound annual growth rate of 14.6 per cent from 2013 to 2018, according to a new report.

The Markets and Markets report also highlights the drivers and restraints for this market along with the insights on trends, opportunities and challenges.

Recent trends in the industry shows that 3D scanning is continually improving and there is a huge demand for the technology. It offers services like reverse engineering, rapid prototyping and quality inspection. The enhanced efficiency, affordability, faster and accurate results are some of the advantages and offerings of this technology. There has been an accelerated growth in 3D scanning adoption because conversion of point clouds to computer aided design data is becoming easier, prices are lower and hardware and software used are more efficient.

More and more companies are inclined towards the technology; new companies are starting their businesses in 3D scanning. In the current scenario it is a price sensitive market but it is estimated that the prices for the devices such as laser scanner will drop and the demand of the same is expected to increase in the near future, according to the report.

The report also found that machine vision is a new and upcoming trend in the market. Market penetration is deep in every vertical. The report expects the technology to be widely used in research programs in industries and universities as well.

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