The global market for 3D laser scanner has been developing at a rapid rate and is considered to have a high level of fragmentation over the next few years, states a new study by TMR. The rising emphasis of the key players on innovations and technological developments is estimated, which is projected to ensure the growth of the laser scanner market in the next few years. In addition to this, the emergence of new products and technology is another factor that is predicted to support the development of the global market in the coming few years. Also, the rise in the number of strategic collaborations and partnerships is estimated to accelerate the market growth in the next few years. The key players engaged in the laser scanner market across the globe are Nikon Corporation, FARO Technologies, Inc., Creaform, Hexagon, AB, 3D Digital Corp., Topcon Corporation, Artec 3D, Perceptron, Inc., Trimble Inc., and ZEISS Group.
As per the study by TMR, the global market for laser scanner is expected to reach a value of US$ 4,338.0 Mn by end of 2026. The market is likely to register a 9.60% CAGR from 2018 to 2026. In the next few years, North America is projected to hold more than 50% and maintain its position in the coming few years. The rise in the implementation of 3D laser scanners in the production industries and the rising demand in order to create 3D documentation in the construction industries are projected to support the growth of the North America market in the near future.
Developing Nations to Offer Growth Opportunities for Market Players
The rapid development of the 3D laser scanners in diverse industrial sectors is considered as one of the main factors that is projected to enhance the growth of the global 3D laser scanner market over the next few years. The improvement in quality control and the inspection standards that are being offered by the 3D laser scanners are further anticipated to accelerate the development of the overall market in the coming few years. In addition to this, the leading players in the market are emphasizing on emerging markets, which is likely to create potential growth opportunities for the market players in the coming few years.
Furthermore, the 3D laser scanner market is estimated to observe a healthy growth in the next few years. The integration of 3D scanning technology in the affordable consumer devices is projected to support the development of the 3D laser scanner market over the next few years. Also, the development of manufacturing industries is likely to drive the market in the next few years.
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Issues Related to Huge Data Storage to Inhibit Market Growth in Coming Years
The global market for 3D laser scanner is estimated to face a few challenges in the next few years, which may restrict the growth of the market in the next few years. The high cost of 3D laser scanners is projected to hamper the growth of the market in the next few years. Moreover, the affordability and availability of traditional alternatives to 3D laser scanning are predicted to ensure the market development in the near future. Also, the rising complexity in the 3D scanning software and the rising concerns related to the huge data storage are some of the other major factors that are estimated to support the growth of the market in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “3D Laser Scanner Market (Range -Short, Medium, Long; Solution – Hardware, Software, Services; Product Type – Fixed, Handheld; Application- Reverse Engineering, Inspection and Quality Control, Virtual Simulation; End use Industry- Manufacturing, Oil and Energy, Architecture and Construction, Heritage Preservation – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”