3D Scanning Market Worth USD 4.9 billion by 2020

3D scanners capture the physical appearance of an object or person with laser technology. With technological innovations, the 3D scanning market has found applications in sectors like architectural planning, entertainment, medical, and civil, to name a few.

The global market is estimated to reach USD 4.9 billion by 2020, with a CAGR of around 9%, according to Radiant Insights, Inc. The automotives & transportation industries are some of the prime adopters of 3D scanners. These scanners save data in point clouds to ensure growth and quality of products.

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Three types of scanners exist. These include laser, optical, and structured light. Laser scanners dominate the market and occupy 60% of the 3D scanning market. They are projected to generate sales worth USD 3 billion during the forecast period. Structured light scanners are the second largest product in terms of market shares.

This is due to their ability of developing prototypes with high accuracies. Structured light scanners will create sales of around USD 742 million by 2020. 3D scanners are also available in three ranges – short, medium, and long. Short range scanners dominate the 3D scanning market. They were valued at USD 861.8 million in 2013.

These scanners expect to reach USD 2.2 billion by 2020, growing at a CAGR of 14%. Medium range scanners were valued at USD 665.9 million in 2013 and expect to grow at a CAGR over 13% by 2020. New techniques of laser triangulation and reduced focal length will drive the 3D scanning market to new heights.

The report also divides the market into four regions – North America, Europe, Asia-Pacific, and Rest of the World (RoW). Europe dominated the market in 2013 with a share of 32.6%. North America captured 28.33% share that year. Both these regions are predicted to grow at CAGRs over 12% during 2014-2020 (forecast period).

Europe’s growth is credited to advancements in technologies and innovations in the entertainment sector. Asia Pacific will expand due to awareness regarding sophisticated healthcare treatments. Some of the organizations operating in the worldwide 3D scanning market include Basis Software Inc., Nikon Metrology, FARO Technologies, Creaform, and Steinbichler. Other players are 3D Digital Corp., Topcon, and Maptek.

3D Scanning Market

Information Source: Radiants Insights