3D Imaging Market worth $41.0 billion by 2025
The report "3D Imaging Market Size by Component (Hardware, Solutions, and Services), Deployment Mode, Organization Size, Vertical (Manufacturing, Media and Entertainment, and Architecture and Construction), and Region - Global Forecast to 2025", size to grow from USD 15.5 billion in 2020 to USD 41.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period. The major factors driving the growth of the 3D imaging market are the increasing demand for 3D image sensors from verticals, such as manufacturing, automotive, and media and entertainment. The growing demand for 3D accelerometers in smart phones and gaming consoles is also expected to drive market growth. Large enterprises segment to hold a larger market size during the forecast period The 3D imaging market is segmented by organization size into large enterprises and Small and Mediumsized Enterprises (SMEs). The large enterprises segment is expected to have a larger market size during the forecast period, due to the increasing urge among organizations to adopt 3D imaging solutions and hardware to deliver better customer experience. Large healthcare and life sciences institutions need to have advanced X-Ray, Computed Tomography scan, and Magnetic Resonance Imaging devices to treat patient health. The adoption of high-end 3D imaging technologies, such as 3D scanners, 3D displays, and 3D sensors are increasing the quality of images owing to their high resolution. Various businesses, such as media and entertainment, manufacturing, and retail and eCommerce are adopting 3D imaging hardware and solutions to increase business processes and remain competitive in the market. By vertical, the manufacturing vertical to grow at the highest CAGR during the forecast period The 3D imaging market by vertical is segmented into eight categories: aerospace and defense, automotive and transportation, manufacturing, healthcare and life sciences, architecture and construction, media and entertainment, retail and eCommerce, and others (energy and utilities, education, agricultural irrigation, and BFSI). The manufacturing industry vertical is expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the increasing adopting of Artificial Intelligence (AI) and Internet of Things (IoT) technologies to enhance their supply chain management processes. Manufacturing verticals are facing challenges in analyzing processes for manual and automated inspection of any part, component or final assembly, and for streamlining and maximizing efficiencies across the manufacturing process. The emergence of affordable 3D imaging technology for industrial applications has resulted in its increased use in the processing and quality control applications for defect detection, measuring volumes, or measuring elevation dimensions across the manufacturing process. Most companies offer 3D imaging techniques, such as laser triangulation, stereo vision, and light stripe projection all of which use geometric procedures, and Time-of-Flight for advanced and smooth manufacturing processes. For instance, FARO offers 3D manufacturing solutions and software, which include FARO CAM2 software used to streamline industrial metrology applications, such as dimensional controls, incoming and first article inspections, part-to-CAD comparisons, assemblies, and repeat part measurements. North America to hold the largest market size during the forecast period North America is the most significant revenue contributor to the global 3D imaging market. The region is witnessing significant developments in the 3D imaging market. North America is projected to hold the