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Rising Usage in Machine Vision Applications to Open New Growth Opportunities for 3D Imaging Technologies

With technological innovations becoming more frequent and newer applications being uncovered at a persistent rate, the 3D imaging market is ripe for growth, reports TMR in a new study. The market presents ample growth opportunities for companies prepared to align their strategies with rapid technological shifts. 

Global 3D Imaging Market: Snapshot
The growing uptake of 3D technology in various spheres, especially in the field of imaging, has given the global 3D imaging market a tangible boost. Today, 3D imaging is used for purposes such as 3D modeling, 3D rendering, 3D scanning, and gesture recognition among others. The widening scope of 3D imaging in areas such as construction, medical devices, healthcare, defense, manufacturing, construction, and entertainment have opened up several new avenues for the market to generate higher revenue. Transparency Market Research states that the global 3D imaging market is likely to be worth US$17.99 bn by 2021 from US$3.51 bn in 2014. During the forecast years of 2015 and 2021 the global market is estimated to surge at a CAGR of 26.8%. 

The research report by Transparency Market Research provides a thorough understanding of the various market dynamics governing the global 3D imaging market. It evaluates the drivers, restraints, opportunities, and threats impacting the various segments of the global market. With primary and secondary research methodologies the publication aims to offer an exact and an accurate assessment of the trajectory of the global market. Complete with an executive summary and a competitive landscape, the research report aims to be a guiding hand to market enthusiasts and investors in the near future. 

 
Applications in Healthcare Sector to be Prominent Revenue Generator

The use of 3D imaging techniques and solutions has played a prominent role in the overall development of the medical imaging industry over the past few years. The healthcare industry is presently the leading revenue generator for the global 3D imaging market and is expected to maintain its dominant stance in the global market in future years as well.

Rising prevalence of chronic ailments such as a number of cancers and cardiovascular conditions globally has led to a steep rise in the number of medical diagnostic tests undertaken as well as complex surgeries every year across the globe. In the near future as well, the numbers are expected to witness substantial rise, acting as a major propeller for the global 3D imaging market. The applications of 3D imaging in medical specialty sectors such as obstetrics, gynecology, and dentistry have also significantly increased in the past few years and are expected to drive the market further.

Applications of 3D imaging in the healthcare industry allowed the global 3D imaging market acquire revenues worth US$0.83 bn in 2014. 3D imaging in the healthcare sector is expected to expand at a favorable 26.8% CAGR over the period between 2015 and 2021.

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North America to Continue Being Most Influential Regional Market

The market for 3D imaging in North America has benefitted from the early availability of most product innovations and technological advancements observed in 3D imaging in the past few years. The high level of receptiveness for effective 3D imaging technologies in the industrial, entertainment, and consumer electronics sectors have also enabled North America acquire the top spot in the global 3D imaging market. The region is also home to some of the leading vendors in the market, including Microsoft Corporation, Hewlett-Packard Corporation, Google Inc., Toshiba America Medical Systems, Hitachi Aloka Medical America,Inc., and Lockheed Martin Corporation.

These factors have collectively positioned North America as one of the most promising regions in terms of research and development as well as consumption of technologically advanced 3D imaging solutions. The region accounted for a dominant share of 38.72% in the overall revenues of the global market in 2014.
Nevertheless, the markets for 3D imaging in Europe and Asia Pacific are expected to emerge as tough contenders to the North America 3D imaging market over the period between 2015 and 2021. Europe, being a major producer of automobiles, defense machineries, industrial automation equipment, and healthcare equipment, will account for a 32.19% share in the global market’s revenues by 2021. This will be a slight reduction in the region’s share in the global market in 2014, which was pegged at 33.03% of the overall revenues.
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