3D Mapping and 3D Modeling Market is expected to touch US$4416.5 mn by 2024

Advancements in graphic designing and video rendering have played a pivotal role in driving demand within the global 3D mapping and 3D modelling market. The past decade has witnessed key advancements in 3D technologies, and several industries have invested in these technologies. Furthermore, 3D models are used across a number of industries for demonstrating key procedures and processes. 3D mapping is a key component of the marine industry where navigation and steering systems hold immense importance. Considering the factors mentioned above, it is safe to expect that the global 3D mapping and 3D modelling market would tread along a lucrative pathway.

Transparency Market Research (TMR), in its report, predicts that the global 3D mapping and 3D modelling market would expand at a CAGR of 6.40% over the period between 2014 and 2024. The total value of the global 3D mapping and 3D modelling market is expected to touch US$4416.5 mn by 2024, rising up from a volume of US$2,916.8. Relevance of mapping and navigation across the marine industry shall play a vital role in driving sales across the market.

Advancements in Entertainment Industry to Drive Sales

Popularity of video games has become a pivotal trend across the globe. The quest of the online gaming industry to offer improved graphic images and vectors has led to increased use of 3D technologies. Therefore, the global 3D mapping and 3D modelling market is expected to accumulate fresh revenues in the years to follow. The demand within this market has also increased alongside advancements in the entertainment industry. Use of 3D vectors and graphics in filmography has emerged as an important trend. The growing investments in the entertainment industry have helped in improvising on filming and videography technologies. Furthermore, 3D movies have done commendably well on the commercial charts over the past decade. There is little contention about the emergence of new growth avenues for the market vendors.

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Need for Demonstrations and Archetypes in Constructions Industry

The construction and design industries use 3D modelling to demonstrate new building technologies. Use of these models helps in giving a comprehensive description of construction projects that are in the pipeline. Advancements in architectural studies have also garnered the attention of the masses in recent times. Real estate companies focus on creating 3D videos to demonstrate new projects. Moreover, 3D modelling and mapping helps in fostering agility across the transport and logistics sector. The need for building 3D archetypes of products has given a strong impetus to the growth of the global market.

Some of the leading vendors operating in the global 3D mapping and 3D modelling market are NewTek, Inc. (Lightwave3D), The Foundry, Blender Foundation, Pixologic, and 3D-Coat. These vendors are making earnest efforts to offer high-end services to the end-users.