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3D Scanning Technologies Market Estimated to be Worth $4.08 Billion By 2018 at a CAGR of 14.6%

The report "3D Scanning Market - By Devices (Optical, Laser, Structured Light), Range (Short , Medium, Large), Solutions (Portable, PCMM), Services (Reverse Engineering, Quality Inspection, Rapid Prototyping)- Worldwide Market Forecasts and Analysis (2013 - 2018)",has defined and segmented the global 3D Scanning market with analysis and forecasting of the global revenues. It also highlights the drivers and restraints for this market along with the insights on trends, opportunities and challenges.The global 3D Scanning market is estimated to grow from an estimated $2.06 billion in 2013 to $4.08 billion by 2018, at an estimated CAGR of 14.6% from 2013 to 2018.

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The recent trends in the industry shows that 3D Scanning is continually improving and there is a huge demand for 3D Scanning. 3D Scanning with services like reverse engineering, rapid prototyping, quality inspection, makes it suitable for usage in almost every vertical. The enhanced efficiency, affordability, faster and accurate results are some of the advantages and offerings of this technology. There has been an accelerated growth in 3D Scanning adoption because conversion of point clouds to computer aided design data is becoming easier, prices are lower and hardware and software used are more efficient.

More and more companies are inclined towards the technology; new companies are starting their businesses in 3D scanning. In the current scenario it is a price sensitive market but it is estimated that the prices for the devices such as laser scanner will drop and the demand of the same is expected to increase in the near future. Machine Vision is a new and upcoming trend in the market. Market penetration is deep in every vertical. It is expected to be widely used in research programs in industries and universities as well.

Marketsandmarkets expects that manufacturing, aerospace and defense verticals will account for the largest market share throughout the forecast period. Manufacturing vertical is taking advantage 3D scanning through digital testing prior to fabrication of actual product which helps optimizing costs. In aerospace and defense the stringent adherence is conformed through prior testing to optimize the manufacturing costs. However, there are few revenue pockets, namely Automotive, Transportation and Logistics (ATL), Defense and Public Safety, and Retail, that will witness significant growth in this period.

The 3D scanning by Applications comprises of quality control, computer aided application, cultural heritage, and others. The 3D scanning by Services comprises of reverse engineering, quality inspection, rapid prototyping, face and body scanning, and others. Verticals covered include aerospace and defense, entertainment and media, medical and healthcare, architecture and engineering, oil and gas, energy and power, automotive and transportation, manufacturing, and others. Geographies covered include North America, Western Europe, Eastern Europe, Middle East and Africa, Asia-Pacific (Including Japan) and Latin America.

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The global 3D scanning market is expected to grow from $2.06 billion in 2013 to $4.08 billion by 2018, at an estimated CAGR of 14.6% from 2013 to 2018. APAC is estimated to project a large share of the overall market in 2013 at $538.5 million; and is expected to reach $1,087.3 million by 2018, at a CAGR of 15.1% from 2013 to 2018. Latin America is expected to grow at a CAGR of 23.2% from 2013 to 2018. The Latin American market will increase from $257.9 million in 2013 to $732.5 million by 2018.

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