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3D Modeling, 3D Visualization, And 3D Data Capture Market To Reach US$ 1,077.1 Mn By 2026

3D Modeling, 3D Visualization, and 3D Data Capture Market  

The global 3D Modeling, 3D Visualization, and 3D Data Capture market was valued at US$ 775.3 Mn in 2017 and is expected to expand at a CAGR of 3.8% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “3D Modeling, 3D Visualization, and 3D Data Capture Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” North America is expected to hold the dominant revenue share, with the market in the region expanding at a CAGR of above 3.5%. The global 3D Modeling, 3D Visualization, and 3D Data Capture market is mainly driven by growing drilling activities as well as digitization of the oil and gas industry.
Growing drilling activities and digitization of the oil and gas industry driving the demand for 3D Modeling, 3D Visualization, and 3D Data Capture
The 3D Modeling, 3D Visualization, and 3D Data Capture market is expected to expand at a CAGR of 3.8% during the forecast period 2018-2026. The 3D Modeling market includes both software as well as services offered by software providers and service providers. Software vendors operating in the market of 3D modeling solutions include providers of various computer aided design (CAD) software and building information modeling (BIM) software. These software are used across the upstream, mid-stream, and downstream oil and gas industry for pipeline designing and refinery plant designing. 
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Increasing drilling activity, improving oil and gas processes, and digital transformation of the oil and gas industry expected to play an important role in the expansion of the 3D Modeling, 3D Visualization, and 3D Data Capture market
The 3D Modeling, 3D Visualization, and 3D Data Capture market is driven by improvement in global oil and gas prices as well as expected improvement in capital expenditure (CAPEX) of major oil and gas companies. Also, oil and gas companies are undergoing digital transformation that includes investment in AR/ VR technology, use of Big Data analytics for efficient decision making, and investment in cyber-security solutions. The 3D visualization market is divided on the basis of its application areas. 
These application areas include AR & VR (training, marketing etc.), safety and training, marketing& sales animation, post production, product and process, and transportation. The product and process application is further bifurcated into operation procedure for drilling wells, casing installation, cementation process, and oil and gas extraction and refining process.  The 3D modeling market is also segmented based on various application areas. These applications include structural designing, integrated analysis & material take-off reports, equipment designing, equipment modeling, and intelligent grid. 
The structural designing application is further divided into piping, civil/foundation, and HVAC ducting. Equipment modeling is divided into vessels, pumps, launchers/receivers, and others. The 3D modeling market is also segmented on the basis of solution type. These solutions include CAD and BIM solution. The 3D data capture market is divided on the basis of various application areas including 3D laser scanning (static), 3D handheld scanner, 3D aerial scanning, and sensors.
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North America dominance of the 3D Modeling, 3D Visualization, and 3D Data Capture market projected to continue
In terms of geography, the 3D Modeling, 3D Visualization, and 3D Data Capture market is segmented into five regions namely, North America, South America, the Middle East, Africa, Asia Pacific, and Europe. Among these, North America is expected to hold the largest share of more than 30% of the market, by2026. Continuous investment in such solutions is the major driving factor for the strong growth of the 3D Modeling, 3D Visualization, and 3D Data Capture market in North America.
Major players operating in the global 3D Modeling, 3D Visualization, and 3D Data Capture market include AAM Pty Ltd., AVEVA Group plc., Bentley Systems, Incorporated, EON Reality Inc., Esri Canada, Goontech, ImageMaker Advertising Inc., Intergraph Corporation, Josen Premium, Mechdyne Corporation, and Solid Terrain Modeling, Inc. These players are focusing on acquisitions and strategic collaborations in order to increase their market share in the global 3D Modeling, 3D Visualization, and 3D Data Capture market.
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