3D RECONSTRUCTION MARKET ANALYSIS

The global 3D reconstruction market size was valued at US$ 950.9 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 8.1% from 2023 to 2030.  Increasing usage of 3D scanning and modelling solutions in the automotive, aerospace, and defense industries is expected to drive market growth. Along with these, increasing adoption of virtual reality and augmented reality technologies in the healthcare sector is projected to increase the demand for 3D reconstruction. Rising Government funding is a key driving factor for the 3D Reconstruction market. Moreover, the growing popularity of video games and theatrical films is also projected to boost the market’s growth.

Global 3D Reconstruction Market: Regional Insights

Asia Pacific is anticipated to show robust growth in the global 3D reconstruction market during the forecast period. This is owing to rise in adoption of novel technology in the construction industry. Countries like China are undertaking large amount of construction projects that are becoming the basis of the modern urban environment of the country

Middle East and Africa are the following nations after Asia Pacific with the CAGR of 8.69% in the forecast period.

Figure 1: Global 3D Reconstruction Market Share (%), By Region, 2022

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Global 3D Reconstruction Market Drivers:

Rise in adoption of 3D technology in maintenance to boost the market growth

The adoption of 3D technology for maintenance of museums and cultural heritage, construction applications, and industrial applications is increasing rapidly replacing the traditional approach. Cultural heritage can be preserved digitally, however it can be challenging process for 3D reconstruction. Cultural heritage objects and cultural heritage sites are different from each other and it requires maximized implementation of the 3D reconstruction. With the use of 3D reconstruction based on aerial image, sensitive sculptures can be reconstructed with high accuracy. Thus, the rapidly growing adoption of 3D technology in maintenance is driving the growth of the global 3D reconstruction market during the forecast period.

Technological developments in cameras to propel the market growth

The demand for 3D content for computer graphics, communication, and VR has increased in recent years, which changing the requirements. The systems for construction of 3D models that are currently being used are created around specialized hardware, due to which, its cost increases and it does not always cater needs for its new applications. Camera calibration offers extrinsic and intrinsic parameters, and without it no algorithm arrangements work at in the level. With increase in technological advancements in cameras, the applications of 3D construction will increasing in the future and this is expected to augment growth of the global 3D reconstruction market during the forecast period.

Global 3D Reconstruction Market Opportunities:

Increasing use 3D reconstruction technology in the entertainment industry is likely to bring in multiple opportunities in the global 3D reconstruction market during the forecast period. The use of 3D reconstruction is increasing in this industry for theatrical films and video games. As the popularity of gaming is increasing all over the world among children and young adults, technological developments are also growing in this particular field. Thus, the use of 3D reconstruction is increasing in the entertainment industry, which in turn is likely to benefit the players in the global 3D reconstruction market.

Growing popularity of 3D reconstruction in healthcare industry is projected to generate growth opportunities in the global 3D reconstruction market over the forecast period. 3D reconstruction technology offers several benefits such as its multi-view capability. 3D reconstruction for medical image analysis increases accuracy and helps in planning, simulating, and direction of medical treatments. Moreover, use of 3D reconstruction also benefits detecting diseases with deep tissue origins. Thus, popularity of 3D reconstruction in increasing in healthcare industry, which is further expected to drive growth of the global 3D reconstruction market during the forecast period.

Global 3D Reconstruction Market Trends:

Increasing focus of market players on leveraging AI expertise and experience in healthcare sector is a major trend

In healthcare industry, medical imaging applications rely on 2D imaging for delivering necessary information. 3D reconstruction working on top of the neural network can find it challenging to gather data from the 2D images, as it represents difficulties in dimensional enlargement for differential layer. Thus, several companies in the market are trying to leverage their AI expertise and experience in healthcare sector in order to create breakthrough solutions. For instance, in March 2020, RSIP Vision, offers field-tested software solutions, had announced the development of AI-based solution for 3D reconstruction of knees from 2D X-ray images.

Demand for 3D reconstruction software is a recent trend in the market

The use of 3D printing technology is increasing in several applications, as the technological development along with product innovations continues to increase. This in turn is resulting into growing adoption of several 3D reconstruction software solutions for multi-view images. Applications such as manufacturing, cultural heritage, healthcare, GIS applications, and media and entertainment make use of 3D reconstruction software solutions. Thus, the demand for these solutions is increasing all over the world, which is a growing trend in the global 3D reconstruction market.

Global 3D Reconstruction Market Restraints:

Shortage of skilled or experienced workforce to impede the market pace

3D reconstruction using images has a key role in computer vision, with larger improvements about performance and quality. It is also mainly used to create 3D models of objects requiring skilled professionals or that are hard to model. 3D reconstruction is performed in three steps, planning, flight execution, and processing. And post-processing solutions of 3D reconstruction need experienced or skilled users. This factor thus impacts adoption of 3D reconstruction, which in turn is likely to obstruct growth of the global 3D reconstruction market. However, market players are focused on finding solutions to overcome these issues, to make these solutions user friendly, which will aid in the market growth.

High cost of 3D reconstruction solutions to hamper the market growth

3D modeling is expensive technology, and most of the software packages run into several thousands of dollars per user every year. Along with this, they need a team of skilled professionals to operate the systems, which is another investment of resource and time. Moreover, to 3D reconstruction solutions, it needs high cost hardware. These factors in turn are expected to hinder growth of the global 3D reconstruction market during the forecast period.           

Figure 2: Global 3D Reconstruction Market Share (%), By Segment, 2022

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Global 3D Reconstruction Market Segmentation:

The global 3D reconstruction market report is segmented into Type of Construction and End User Industry.

Based on Type of Construction, the market is segmented into Software, and Services. Out of which, Services segment is expected to dominate the global market owing to the growing use of 3D reconstruction services across several sectors such as medical and cultural heritage. These services come under professional services and managed services. Most of these managed services are integrated with the cloud service, where servers of experts are connected with the system and professional service of user.

Software is also expected to witness significant growth in the near future and this is attributed to the growing adoption reconstruction software solutions for multi-view images. This is due to increasing technological developments and product innovations, the 3D printing technology is being used in several applications. The 3D reconstruction software solutions are being used in applications such as cultural heritage, GIS applications, manufacturing, media and entertainment, and healthcare.

Based on End User Industry, the market is segmented into Media and Entertainment, Aerospace and Defense, Manufacturing, Healthcare, and Other End user Industries. Out of which Healthcare is expected to dominate the global market over the forecast period. Thus, market players are focused on creating novel solutions that cater all requirements for the industry. This in turn is expected to drive growth of this segment in the near future.

The market for 3D reconstruction is being driven by the manufacturing industry because manufacturers have a strong need for precise and detailed 3D models of physical objects. Reverse engineering involves using 3D reconstruction to create digital models of physical objects that can be used to reproduce or modify them.

Global 3D Reconstruction Market: Key Developments

In January 2020, Agisoft LLC, a software company, had announced the updates of its Metashape software making it version 1.6.1 that has various features such as reduced VRAM consumption in textured model view mode, and strict volumetric masks support for depth maps-based mesh generation.

In May 2022, Vitestro, a medical robotics company, had introduced an advanced autonomous blood drawing device, which merges AI and ultrasound-guided 3D reconstruction with robotic needle insertion for ensuring the secure and precise blood collection.

In July 2022, Skyline Software Systems Inc., a provider of 3D earth visualization software and services, did partnership with Pasco Corporation, who is a major engineering and survey organization in Japan to operate in the Japanese market.

In September 2022, Preimage, a 3D reconstruction start-up raised US$ 1.7 million in a seed funding round, which was led by pi Ventures. The company will be using this funding for scaling up its product portfolio and to increase hiring in the business operations.

Global 3D Reconstruction Market: Key Companies Insights

The global 3D reconstruction market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R&D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global 3D reconstruction market are Quorum Technologies Inc., Pix4D SA, Photometrix Ltd., Koninklijke Philips NV, Agisoft LLC, PhotoModeler Technologies, Intel Corporation, Faro Technologies Inc., Autodesk Inc., General Electric Company, and Vi3Dim Technologies.

*Definition: 3D Reconstruction is a type of computer-based image processing technique used to create a virtual model of an object in three-dimensional space. This can be done in a variety of ways, including the use of two-dimensional photographs or the scanning of an actual object.