The global 3D scanning market was valued at USD 1.007 billion in 2018, and it is expected to reach USD 3.261 billion by the end of 2024, with a CAGR of 22.21% during the forecast period (2019)

NEW YORK, June 13, 2019 /PRNewswire/ -- Market Overview
The global 3D scanning market was valued at USD 1.007 billion in 2018, and it is expected to reach USD 3.261 billion by the end of 2024, with a CAGR of 22.21% during the forecast period (2019-2024). 3D scanners are one among the innovations that have changed the world. With the growing number of applications, the market studied is expected to witness rapid growth.

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- 3D scanning technology has witnessed considerable adoption from commercial applications. Furthermore, the flexibility of the technology to be customized to meet professional needs in various industries has made it profoundly popular across major end-user industries.
- For instance, in the medical sector, 3D scanners are used to model body parts in three-dimensions, which is used to create prosthetics. It can also be used to facilitate wound healing and care and generate body implants.
- In the current scenario, the use of 3D scanners provides dimensional quality control in the manufacturing and production of, both, small and large, critically essential, components. Whether the usage is on-site or at the point of production, it becomes vital to deliver ultra-precise, ultra-accurate, and ultra-resolution result.
- However, Price is one of the major factors restraining the adoption of 3D scanning solutions, as the technology is still in the nascent stage, in terms of global and commercial adoption.

Scope of the Report
3D scanners are devices that capture the details of a real-world object that include properties, such as dimensions, texture, and color, which can then be used to reproduce 3D models. The different applications of 3D scanner include reverse engineering, rapid prototyping, quality control/inspection, face and body scanning, digital modeling which are penetrating the market growth. There are different kinds of 3D scanners like optical scanners, structured light scanners, laser scanners in short, medium & long range which are being used in aerospace and defense, automotive, healthcare, manufacturing, entertainment and media, architecture and construction industries.

Key Market Trends
Medium Range 3D Scanning is Expected to Hold Major Market Share

- Phase shift 3D scanners are ideal for medium range scan needs, such as large pumps, automobiles, and industrial equipment. These scanners capture millions of points by rotating 360 degrees while spinning a mirror that redirects the laser outward toward the object or areas to be 3D scanned. Phase shift scanners are better-suited for scanning objects with maximum distance up to 300m or less.
- Medium-range terrestrial laser scanners, which measure point-to-point distances in spaces of 2-150 meters, are increasingly becoming critical for large-scale manufacturing and assembly operations' applications, such as aircraft and ship assembly.
- Automotive radar is a massive market for medium and long-range technologies, and the rising trend of the autonomous vehicles is likely to further expand the scope of the technology.
- For instance, in October 2018, US-based Lunewave, a startup developing antenna and radar sensor technology with 3D printing for use in self-driving vehicles and other applications, raised USD 5 million in seed funding.

North America to Account for Major Share

- The United States is one of the most significant and momentous 3D scanning markets across the world with the healthcare, aerospace and defense, architecture and engineering, 3D Digital Corporation, research and education, entertainment and media is the significant, largest, and among some of the most advanced.
- 3D scanning opens up boundless possibilities for artists of any kind, allowing them to translate their most fantastic ideas into reality. For instance, the US media and entertainment (M&E) market, which is 33% of the global M&E industry, is the largest M&E market in the world especially, 3D animation production in the country, which houses the animation studios, such as Disney and Pixar. The technology drives forward the movie industry and video games – many stunts and visual effects would be difficult or even impossible to bring off before the advent of 3D scanning.
- Owing to Canada's commitment to public access to healthcare, government spending on healthcare exceeds 10% of Canada's GDP, one of the highest percentages in the developed world, which equates to well over USD 5000 in healthcare spending per capita. These coupled with the increased demand for plastic surgery, prosthetics, amputation, etc., are giving way for new 3D scanners and scanning technologies in the near future.

Competitive Landscape
The 3D scanning market is fragmented. Overall, the competitive rivalry among existing competitors is high. Moving forward, the new product innovation strategy of large and small companies are giving rise to the 3D scanning market. Some of the key players in the market are 3D Systems Inc. and Hexagon AB. Some of the key developments in the area are:
- April 2019 - Creaform launched a third-generation scanning solution of Go!SCAN solution. The Go!Scan SPARK is a portable 3D scanner designed for product development professionals.
- February 2019 - 3D Systems announced the release of a new version of Geomagic for SOLIDWORKS. With improved workflow, user interface and compatibility to various scanning device and export-import formats. The company planned to make the newest version available from March 2019.
- June 2018 - Hexagon AB launched Leica RTC360, a laser scanner equipped with edge computing technology to enable fast and highly accurate creation of 3D models in the field. According to the company, it is the world's first 3D laser scanner with automatic in-field pre-registration.

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