Vantage Market Research
Jan 24, 2022
In terms of revenue, the Global 3D Imaging Market is expected to reach USD 40031.4 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 18.90% from 2022 to 2028. The Global 3D Imaging Market growth is attributed to the factors such as increasing demand for 3D image sensors from several sectors such as manufacturing, automotive, and media, and entertainment industries. Moreover, the demand for 3D accelerometers in smartphones, as well as gaming consoles, is increasing which is likely to increase demand for 3D imaging, further projected to drive the 3D Imaging Market growth over the forecast period.
- The 3D display sub-segment is anticipated to grow at a substantial CAGR during the forecast period. The market growth is attributed to the increasing use of 3D displays in the entertainment industry for video games and films.
- Healthcare and life sciences sub-segment held a significant market share in 2021. This is attributed to the increasing adoption of 3D imaging in the healthcare industry along with the increasing prevalence of chronic diseases.
- Asia Pacific is expected to grow at the fastest CAGR. This is attributed to the rising demand for 3D imaging from various industrial sectors in the region.
Some of the key players in the 3D Imaging Market include - Agilent Technologies, Able Software Corporation, Frontop Digital Technology Co., Google Inc., GE Healthcare Company, Konica Minolta Inc., Apple Inc., and Lockheed Martin Corporation.
The rise in prevalence of chronic diseases across the globe and the surge in adoption of 3D imaging procedures in hospitals and diagnostics centers are the vital factors driving the global medical imaging market. According to the American Heart Association & American Stroke Association, around 801,000 deaths in the U.S. is due to cardiovascular diseases. Additionally, around 2,200 deaths every day in the U.S. are caused by cardiovascular disease.
The worldwide constant increase in the geriatric population and rising awareness among people regarding early diagnosis for severe clinical disorders are the other factors that are supporting the market growth during the forecast period. Early diagnosis in the cases of cancer is the only way for a cure and precise diagnosis with the help of 3D imaging is expected to escalate the market growth further.
North America is expected to emerge as a potential market for 3D imaging. The U.S. is anticipated to hold the largest share of the region for the 3D imaging market. This is attributed to the presence of major players such as GE Healthcare, Lockheed Martin, FARO, Adobe, Able Software, Esri, HP, Bentley Systems, Google, Pixologic, Autodesk, and Trimble in the region. Additionally, rising investments in the research and development (R&D) sector is further propelling market growth in the region over the forecast period.