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The 3D scanner market is expected to grow from USD 3.41 billion in 2016 to USD 5.90 billion by 2023, at a CAGR of 7.8% during the forecast period.
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 some of the significant factors driving the growth of the 3D scanner market. Software & hardware providers are increasingly focusing on workflow enhancement and usage convenience; this is propelling the sales of 3D scanners.
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The increasing adoption of 3D scanning equipment in industries such as aerospace & defense, automotive, architecture & construction, medical, electronics, energy & power, and heavy machinery is driving the growth of the market for hardware & software. The larger market size of hardware and software offering can also be attributed to the rising adoption of new software upgrades for 3D scanners.
The automotive industry accounted for the largest share of the 3D scanner market in 2016. The optical 3D scanning technology is widely used in the automotive industry for quality control and inspection applications to ensure t hat the components manufactured are within specified tolerance levels. Optical 3D scanners are fast and flexible and have proven to meet strict automotive production requirements. For instance, in body-in-white (BIW) assembly, 3D scanners precisely measure and monitor the locations of slots, studs, holes, and other features to ensure conformity to strict automotive tolerance.
Asia Pacific (APAC) holds huge growth opportunities for the 3D scanner market; the market in this region is expected to grow at a high rate between 2017 and 2023. This region comprises developing economies, such as China and India, which holds huge potential for 3D scanning applications. Some of the major factors driving the growth of the 3D scanner market in APAC include the rising number of engineering and infrastructure projects, increasing preference for custom implants (in medical applications) to ensure better and faster recovery, and growing number of dental restoration surgeries in this region.
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Key Market Players:
Key players in the 3D scanner market include Hexagon AB (Sweden), FARO Technologies, Inc. (US), Nikon Metrology NV (Belgium), Trimble Inc. (US), Topcon Corporation (Japan),3D Systems Corporation (US), Perceptron Inc. (US), Kreon Technology (France), Carl Zeiss Optotechnik GmBH (Germany), Shapegrabber (Canada), Fuel 3D (UK), Arctec 3D (Luxemburg), Capture 3D (California), Creaform, Inc. (Canada), Basis Software Inc. (US), Maptek Pty Ltd (US), True Point Laser Scanning LLC (US), Next Engine (California), Shining 3D Tech (China), RangeVision (Russia), Exact Metrology (US), Trimet (US), 3D Scanco (US), and Paracosm, Inc (US).
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