3D and 4D Technology: A Billion Dollar Market

The future for 3D & 4D technology is starting to look inevitable as more and more tech companies are indulging in the global 3D and 4D technology. As manufacturing races to become more automated, and 3D printers become more common within industrial workflows, there is a growing need for faster and higher quality inspection and validation technologies.

Why 3D and 4D Technologies?

3D technology enhances the viewer’s illusion of the perception of depth. 4D technology combines 3D plus the dimension of time. 4D videos or films include the simulation of environmental occurrences based on what is being projected. Wind effect, rain, water, jet effects, smoke, lightening, vibration, and air bubble effects are some of the examples of a 4D cinematic experience that viewers can feel. The 3D and 4D technology has gained momentum recently and is widely used in the entertainment industry.

While 3D and 4D technology was earlier costly and thus confined to the entertainment and gaming industry, it has now become a technology that is being extensively utilised in a wide range of applications. Moreover, 3D televisions and smart phones have become the next big trend, thus benefitting the global 3D and 4D technology market. A drop in the cost of 3D printers is boosting the adoption of printers in the government and educational sectors. The rising demand for 3D movies is boosting the 3D and 4D technology market. Likewise, the use of 3D and 4D technology in navigation technology is also driving the market to newer heights.

Growth Prospects

According to global market research company MarketsandMarkets, advanced 3D and 4D technology, like virtual reality, 3D printing, 3D imaging and CAD software, is going to drive the 3D & 4D Technology Market to reach an expected $314.17 Billion by the year 2022. There is a multitude of industries and sectors that would be contributing to this market expansion, including the entertainment & animation industry, CAD-based additive manufacturing, the growing custom parts and products market and military & defence.

The defence sector is also expected to heavily influence the 3D market growth as they begin applying advanced 3D imaging technology to new, military applications. Head-mounted displays (HMD) are expected to be widely adopted for military use, including technology that can be used to track and identify the location and movements of enemy combatants. HMD technology will also have applications for differentiating between friendly and unfriendly participants in active war zones, and for use in autonomous or self-navigating military vehicles. MarketsandMarkets expects the military to heavily use technologies like 3D navigation systems, 3D multi displays, 3D radar systems, and virtual reality applications. The high-resolution imaging capabilities of 3D radar systems will also prove useful for applications like land mine detection and weapons and explosives identification.

Image source: Visual.ly

Demographic Segmentation

While the largest market for 3D and 4D technology is currently North America, the Asia-Pacific region (APAC) will see the fastest market growth and that is unlikely to change given their current growth rate and the growing market potential for future 3D applications. While the entire region is expected to see a spike in demand, the primary markets that MarketsandMarkets expects to see the fastest growth will be in China, India and to a lesser degree Japan. The region’s demand for 3D technology applications will be driven by rising income levels in the APAC region, lifestyle changes as more people move to cities, and a growing need to remain competitive in the global market by developing faster manufacturing technology.

The market is majorly segmented on the basis of technology which include 3D input devices, 3d output devices, 3D applications and 3D imaging solutions. On the basis of end users the market is segmented into automotive, construction, military & defense, entertainment, engineering, consumer, healthcare etc. Among all major end user industries, the 3D and 4D technology market is forecasted to grow impressively by 2022 due to growing adoption.

Some of the major market players are Samsung, Sony Corporation, Stratasys ltd., 3D systems corporation, DreamWorks Animation SKG Inc. etc. Acquisitions, expansions and mergers are the key strategies adopted by the market players to sustain in the market.