New York City, NY, 13 January, 2020/ 24 Market Reports: It is estimated for the global 3D scanner market to reach USD 5.93 billion by 2023 from that of USD 3.44 billion in 2016 witnessing the growth at a CAGR of 7.9% during the forecast period of 2016 to 2023. Rapid technological developments, increasing application of 3D scanners in newer market segments, and rising adoption of 3D scanners to enhance product quality and reduce manufacturing time are the factors that are driving the growth of the market during the forecast period.
The rising adoption of new software upgrades is driving the growth of the market during the forecast period
Industries such as aerospace & defence, automotive, architecture & construction, medical, electronics, energy & power and heavy machinery are adopting 3D scanning equipment excessively which is creating the scope for the hardware & software market during the forecast period. The rising adoption of new software upgrades for 3D scanners is also the factor that is driving the growth of the market during the forecast period.
Automotive industry to account for the highest share in the market during the forecast period
During the year 2016, the automotive industry accounted for the highest share in the market and the trend is estimated to continue throughout the forecast period. To ensure that the components manufactured are within specified tolerance levels, in the automotive industry, the optimal 3D scanners are used for quality control and inspection applications.
The alternatives are available for 3D scanners in the market to slow down its market growth
There are alternatives for the 3D scanners market in the industries of manufacturing, architecture & construction, and healthcare thus restraining the growth of the market in the above-mentioned industries. Though 3D scanners offer quick and highly accurate 3D scanning, the cost-effective alternatives are restraining the growth of the market during the forecast period.
APAC region to witness the growth at the highest rate during the forecast period
With APAC holding immense opportunities for the 3D scanner market, it is estimated for the region to grow at the highest rate during the forecast period. The countries such as India and China hold huge demand for the market and thus playing a major role in the growth of the market in the APAC region throughout the forecast period. The rising number of engineering and infrastructure projects, increasing preference for custom implants in medical applications to ensure better and faster recovery and a growing number of dental restoration surgeries in the region are the major factors that are driving the growth of the market in forecast period during the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the global 3D scanner market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global 3D scanner market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global 3D scanner market and their future potential during next decade?
- How competitive landscape is evolving in global 3D scanner market?
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