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Global 3D mapping market: $7.7 billion industry by 2018
3D Mapping & Modelling: Worldwide Market Size and Forecasts 2013-2018 - a new market research report on 2014-03-04 17:53:01
The global 3D mapping market is suggested to have reached a value of around $1.1 billion at the beginning of 2013, and is forecast to total over $7.7 billion by the end of 2018. This growth would suggest a CAGR growth rate of around 47.9% between 2013 and 2018. North America, the first mover in the 3D mapping and modeling market, is expected to remain as the major market by 2018. Meanwhile, we also observe the Asia Pacific (APAC) and Middle East and Africa (MEA) regions to grow at a significant rate, mainly driven by opportunities in countries such as China and India. In 2013, Europe is expected to account for about 33.1% of the global market, and is expected to grow at a CAGR of 43.2% from 2013 to 2018. APAC is estimated to be a $1.6 billion market by 2018; at a CAGR of 66.38% 2013 to 2018. The market players include Tier 1 companies such as Google, Apple, Amazon, Saab and Hover.The past decade witnessed a giant leap in various industries, with 3D technology being implemented in various electronic devices and other objects. The need for 3D mapping arose after an attempt to make 2D maps more advanced and look more real. This was done by introducing sensors, cameras, scanners, GPS components, and other acquisition devices to capture the real time 3D images which are created into models incorporated into maps. This type of technology is often used in modern computer programs to provide a lifelike view of a place or thing on a map.Portable GPS devices use 3D mapping technology to provide automated directions. These devices have small screens that display a three-dimensional view of roads and maps. This is a good tool for people who travel or go for hiking to unfamiliar areas because the device uses satellites to pinpoint its exact location. Building schematics are blueprints used for the construction of houses. 3D mapping technology is often used to create construction schematics. This tool makes it easy to draw a three-dimensional version of a house plan. These plans are typically used to get building permits and construction material before any building starts.3D mapping technology is one of the fastest and most complete ways to build 3D-environments in the market today. 3D mapping solutions enabled the user to swiftly build three-dimensional maps of the surroundings with supreme accuracy and clarity, ready to plug into professional visualization systems. With investments towering up for 3D maps applications to be introduced to smartphones, market players such as Nokia, Samsung and other smartphone companies have indicated string interest in this market. The 3D-enabling devices like sensors, cameras, scanners, GPS components, and other acquisition devices create huge potential in this market. The improvised 3D experience on smartphones, tablets, notebooks, PCs, cars, etc. is set to revolutionize the mobile device market and other GPS-enabled device market by broadening the horizons for the users to locate things easily using any device.
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