3D reconstruction technology helps create 3D models of physical objects such as buildings, landscapes and interiors. It facilitates capturing precise measurements and digital rendering of objects and landscapes for architects, engineers and construction companies. The technology aids in collecting thousands of photos and transforming them into 3D models with accurate dimensions and details through software. This enables architects and engineers to visualize structures digitally prior to physical construction and make necessary design changes. The global 3D Reconstruction Market is estimated to be valued at US$ 1027.92 Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The development of the construction industry has been a major driver of growth in the 3D reconstruction market. Construction activities across both commercial and residential sectors have increased exponentially over the past few years globally. 3D reconstruction technology is increasingly being adopted by construction companies to visualize projects, plan construction workflows, and detect design errors prior to physical building. This helps reduce construction costs and time overruns. The technology also aids in maintaining an online digital record of structures that helps facilities management and retrofitting activities. Rising construction expenditures are expected to further accelerate the adoption of 3D reconstruction solutions in the industry.
Segment Analysis
3D Reconstruction Market is segmented into 3D scanning, image processing, and 3D modeling. The 3D scanning segment dominated the market in 2022 owing to widespread use of photogrammetry technology to create 3D models of physical objects using digital images and computer vision techniques. This technology provides highly accurate 3D models and allows scalability based on project requirements.
Key Takeaways
The global 3D Reconstruction Market Size is expected to witness high growth during the forecast period of 2023 to 2030 driven by growing adoption of 3D reconstruction technology across various industries such as entertainment, engineering & construction, healthcare, and heritage preservation.
Regional analysis: North America dominated the global market in 2022 and is expected to maintain its leading position over the forecast period. Growing investment by major companies in 3D reconstruction technology and widespread early adoption across industries are driving market growth. Asia Pacific is expected to be the fastest growing region owing to rising infrastructure development activities and increasing government initiatives to leverage advanced 3D reconstruction solutions.
Key players: Key players operating in the 3D Reconstruction Market are Quorum Technologies Inc., Pix4D SA, Photometrix Ltd., Koninklijke Philips NV, Agisoft LLC, PhotoModeler Technologies, Intel Corporation, Faro Technologies Inc., Autodesk Inc., and General Electric Company. These companies are focusing on new product launches and partnerships with system integrators to expand their business operations and gain higher market share.
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