DUBLIN--(BUSINESS WIRE)--The "3D Mapping and Modelling Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Mode, Organization Size, Component, 3D Mapping Application, 3D Modelling Application, and Vertical" report has been added to ResearchAndMarkets.com's offering.
The 3D mapping and modelling market was valued at US$ 4,089.66 million in 2020 and is projected to reach US$ 12,146.23 million by 2028; it is expected to grow at a CAGR of 14.5% from 2020 to 2028. the forecast period for this study.
The 3D mapping and modelling market players are experiencing significant demand for their products. However, if the users are averse to learn the basics of using 3D mapping and modelling tools, they might fail to use them efficiently; this calls for hiring experienced workforce or technical support staff for performing these tasks. Also, the SMEs in developing and third world countries face a major challenge in terms of lack of in-house knowledge regarding these solutions and their benefits. This can be attributed to relatively low adoption of cloud-based solutions in countries. Thus, the insufficient availability of skilled workforce and supporting infrastructure in the developing regions is hampering the 3D mapping and modelling market growth.
In terms of geography, the 3D mapping and modelling market is segmented into North America, Europe, APAC, MEA, and SAM. North America held the largest revenue share in 2020, followed by Europe and APAC respectively. Further, the market in Asia Pacific is expected to witness highest CAGR during the forecast period. The 3D mapping and modelling market is segmented on the basis of component, 3D mapping application, 3D modelling application, deployment type, organization size and vertical. Based on component, the market is segmented into software tools and services, wherein software tools are further bifurcated into 3D mapping and 3D modelling, while services are sub segmented into professional and managed services.
The software tools segment led the overall market in 2020. Based on 3D mapping application, the 3D mapping and modelling market is segmented into inspection and measurement, object reconstruction, projection and navigation, reporting and virtualization, and others. Based on 3D modelling, the 3D mapping and modelling market is segmented into product marketing, animation and movies, gaming and designing, architectural rendering, and others. The total 3D mapping and modelling market, by application is segmented into product marketing, animation and movies, gaming and designing, architectural rendering, and others. Based on deployment type, the market is divided into cloud and on-premises.
The cloud segment is expected to register the highest CAGR during 2021-2028. Based on organization size, the 3D mapping and modelling market is segmented into SMEs and large enterprises; the large enterprises segment represented a larger share of the market. Based on industry vertical, the 3D mapping and modelling market is segmented into retail and consumer goods, engineering and construction, healthcare and life sciences, transportation and logistics, government and defence, energy and utilities, media and entertainment, manufacturing, and others. The engineering and construction segment led the overall market in 2020.
The COVID-19 crisis is affecting the industries worldwide. The global economy took the worst hit in 2020 and it is likely to continue in 2021. The global economy took the worst hit in 2020 and it is likely to continue in 2021. The COVID-19 pandemic affected global supply chains and business revenues due to business shutdowns, border closing, and trade bans across the globe, which interrupted marketing and sales activities of companies operating in the global 3D mapping and modelling market. Thus, there was a decline in y-o-y growth rate during the year 2020. However, the surge in demand of software solutions for higher efficiency and productivity in various industry verticals due to COVID-19 outbreak and the adoption of 3D mapping and modelling solutions is anticipated to witness growth over the forecast period.
Market Dynamics
Drivers
- Emerging Demand for 3D Animation
- Continuous Technological Advancements in 3D Mapping and Modelling Tools
Restraints
- Lack of Skilled Workforce and Supporting Infrastructure in Developing Regions
Opportunities
- High Growth Potential in Small & Medium-Sized Enterprises (SMEs)
Future Trends
- Increasing Adoption of Cloud Solutions for High Scalability and Flexibility
Companies Mentioned
- Autodesk
- Saab AB
- Golden Software
- Trimble
- Bentley Systems
- Alphabet
- Intermap Technologies
- Airbus
- Esri
- CyberCity 3D
- Topcon
- Dassault Systemes
- Adobe
- Pix4D
- Pixologic
- Flight Evolved
- MAXON
- Onionlab
- The Foundry Visionmongers
- Mitsubishi Electric
- Apple
- WRLD
- GeoDigital
- GeoSLAM
- Mapbox,
- DeepMap
- Civil Maps
- Hivemapper
- Shapr3D
- Innersight
- Astrivis
- Pointivo
- Dynamic Map
For more information about this report visit https://www.researchandmarkets.com/r/ncsxab
