3D Laser Scanner Market to Reach US$ 4,338.0 Mn by 2026

The global 3D laser scanner market was valued at US$ 1,934.4 Mn in 2017 and is expected to expand at a CAGR of 9.6% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “3D Laser Scanner Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” North America is expected to hold the largest revenue share, with the market in the region expanding at a CAGR of above 9%. Integration of 3D scanners in consumer devices and rise of small and compact portable 3D scanner systems is boosting the growth of the 3D laser scanner market significantly.

Increasing adoption of fast and accurate scanning solutions and demand for 3D laser scanners across various industries driving the market

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Traditional methods of collecting measurements include a combination of various tools including measuring tapes, total stations, digital cameras, and laser range finders and more. These are relatively useful for small scale applications. The growing market demand for high precision measurement capture has led to the development of the 3D laser scanning market. 3D laser scanners play an important role in engineering and design services.  It helps in providing three dimensional view of every product or surface with highest levels of accuracy even to the finest details. Conventional surveys tend to be complex as many tasks need to be done multiple times which impacts the desired level of accuracy. 3D laser scanners help in reducing the time by nearly 50% – 70%, thereby reducing labor cost and amount of time land surveyors spend on a particular project. Growing demand for 3D laser scanning across various industries especially architecture, engineering, construction, and industrial plants is playing an important role in its growth.

Cost-effective handheld solutions play an important role in the expansion of the market

The 3D laser scanner market can be segmented based on range, solution, product type, application, end use industry, and geography. In terms of range, the short range 3D scanner model is significantly popular among users. Within the solution segment, the hardware segment tends to hold the dominant market share in terms of revenue. In terms of product type, handheld devices are likely to continue to grow at the highest CAGR during the forecast period.

Increasing adoption of 3D laser scanners for inspection and reverse engineering in manufacturing industries is driving the 3D laser scanner market

Several end-use industry verticals, especially manufacturing industries are looking for 3D laser scanner products for quality control and inspection of their manufactured components. Also, manufacturers use 3D laser scanners to detect the errors during castings which can be traced back during uneven cooling. Architecture and construction segment is expected to expand at the highest CAGR during the forecast period.

North America’s dominance of the 3D laser scanner market projected to continue

In terms of geography, the 3D laser scanner market is segmented into five regions namely, North America, South America, Middle East & Africa, Asia Pacific, and Europe. Among these, North America is expected to hold a major share of above 50% of the market, in terms of revenue, by 2026. Expansion of the 3D laser scanner market in North America is due to the increasing adoption of 3D laser scanner solutions in manufacturing and oil and energy industry for creating 3D models of the products and to check the quality of the goods being produced. The market in Asia Pacific is expected to expand at a significant CAGR during the forecast period.

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Major players operating in the global 3D laser scanner market include FARO Technologies, Inc., Hexagon, AB, Creaform, Perceptron, Inc., Nikon Corporation, Topcon Corporation, Trimble Inc., ZEISS Group, Artec 3D, and 3D Digital Corp. These players are focusing on acquisitions and new strategic collaborations in order to increase their market share in the global 3D laser scanner market.