3D mapping & modeling technologies enable to quickly build 3D environments in this demanding market. According to a report from Research and Markets, the global market is expected to reach a CAGR of 20.94%, during the forecast period 2018 – 2023. It is not really a surprise that Entertainment and Media constitute the first field that could contribute to the growth of this market. However, analysis show that automotive industry is also an area that is not to be neglected.
It should be noted that main investments ongoing for 3D maps applications to be integrated with smartphones, market players, such as Samsung, Nokia, and other OEMs are entering this market. This growth is expected to be witnessed across various industries, owing to the multiple advantages this software offers.
Automotive Industry during the Forecast Period
Taxi and ridesharing service companies will be part of those who will take advantage of the 3D mapping and modelling market.
Back on specific past events: in 2017 for instance, Uber started generating its own 3D maps of Singapore, showcasing the ride-hail company’s increased investment in mapping. This was a preventive action for drivers, who, can now know exactly where the traffic light will be or which road to avoid to save time.
Because of this, driverless/ connected cars need highly detailed 3D maps of the roads they are to navigate, which is expected to boost the 3D mapping adoption.
Once again, United States to Hold a big share of the market
Just like in the global AM & materials market, the United States will also hold a big share of the market in 3D mapping and modeling technologies.
Indeed, according to our researchers, “the Trump administration has proposed a plan to spend over USD 1 trillion in construction sector, in 2018, led mostly by private businesses. This will open up a wide variety of opportunities for 3D mapping and modeling equipment, owing to the extensive use in the construction sector, and the US laws mandating the use of such technology for construction purposes.”
Discover the full report on Research and Markets.
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