Global 3D Imaging Market Report, published by Variant Market Research, forecast that the global market is expected to reach $26 billion by 2024 from $5 billion in 2016; growing at a CAGR of 23.7% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 25.1% and 24.1%, respectively, during the forecast period.
Introduction of 3D imaging technology into products like cameras, smartphone, gaming and among others coupled with modernization of technology fuel the growth of 3D imaging market. Moreover, adoption of technology in various industries such as security, media, and defense could also support the growth of the 3D imaging market.
The global 3D imaging market is segmented based on the product type, application, end-use industry and geography. By product type, it is further bifurcated into 3D cameras (time of flight, stereo vision and structured light), sonography (sonars and ultrasound), smartphone and others. 3D camera and sonography accounted for 44.2% and 23% respectively, in 2016. Moreover, applications can be segmented into 3D scanning, 3D modeling, layout & animation, 3D rendering and image reconstruction. In applications, 3D scanning holds the highest share with 34% followed by layout and animation with 21.1%, in the year of 2016.
End-use industry is segmented into entertainment, industrial applications, healthcare, architecture & engineering, security & surveillance and others. Under end-use industry, healthcare and entertainment accounted for 22.4% and 21.7% respectively in 2016. Furthermore, under geographical segments, Asia Pacific is the fastest growing region in the global 3D Imaging market, and is expected to continue this trend due to increasing awareness regarding various disease and improved healthcare infrastructure. North America accounted the largest share of the market with 36.5% followed by Europe with 32%, in the year 2016.
The key market players include Microsoft Corporation, Google Inc., Toshiba America Medical Systems Inc., GE Healthcare Company, North Grumman Corporation, Siemens Healthcare, Stemmer Imaging Ltd., Apple Inc., Sony Corporation, Konica Minolta, Inc., TomTec Imaging Systems GmbH, Lockheed Martin Corporation and Frontop Digital Technology Co among others. For instance, in March 2017, GE Healthcare Company expands MRA contrast media product range in Europe and launched Clariscan, a gadolinium-based contrast agent designed to support effective visualization of abnormalities in the brain, spine and associated tissues.