3D imaging (stereoscopy) renders a 360-degree view of any image; it creates an illusion of depth using binocular vision and presents two offset images separately for the right and the left eye of the viewer. 3D image sensors and 3D display technologies offer high-resolution images; this is expected to boost the 3D imaging market.
Growing use of this technology in products such as smartphones, cameras, televisions, etc is expected to drive the 3D imaging market. Additionally, the use of 3D imaging software in the automation industry is also expected to fuel market demand. However, the high cost of 3D imaging software and solutions can act as a restraint to market growth. The emergence of 4D technology is expected to provide growth opportunities for the 3D imaging market. 3D imaging technologies are used across various industries including automotive, entertainment, healthcare, defense, security, automation, etc.
Various 3D imaging techniques include 3D scanning, rendering, and modeling. The software used for 3D modeling includes AutoCAD, Blender, and Autodesk 123D. 3D scanners are categorized into optical and laser; they are used widely in manufacturing, defense, and energy & power industry. A high degree of efficiency and availability is expected to boost demand in defense and security applications.
Different 3D display technologies include stereoscopy, anaglyph, and auto-stereoscopy. Growing use in the entertainment industry for video games and theatrical films is expected to fuel the anaglyph 3D imaging market. Auto-stereoscopy can further be segmented into volumetric display, parallax barrier, holography, and a lenticular lens. Holography is expected to be a key market and has resulted in the development of next-generation cross-application, low-cost, and highly efficient imaging devices.
Some key participants in the 3D imaging market include Agilent Technologies, Able Software Corporation, Frontop Digital Technology Co., Google Inc., GE Healthcare Company, Konica Minolta Inc., Apple Inc., and Lockheed Martin Corporation. Other companies operating in the market include Mazor Robotics Ltd., North Grumman Corporation, Panasonic Corporation, Tomtech Imaging Systems GmbH, Sony Corporation, Visage Imaging Inc., and Zebra Imaging.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.