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

3D Modeling, 3D Visualization, and 3D Data Capture Market- Growing Drilling
Activities and Digitization of the Oil and Gas Industry Driving the 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.
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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. Service providers operating in this market largely provide readymade
design (designed by their team) based on client requirement. The 3D visualization
market also includes software as well as services offered to oil and gas companies.
3D visualization tools are essentially the rendering design software which is created
after modeling the product/ infrastructure. The 3D data capture market includes data
capturing solutions as well as services offered in the market. 3D data capture
solutions help oil and gas companies to capture as well as analyze data in real-time.
The data released from various sensors and laser scanning tools are efficiently
analyzed which in turn helps the oil and gas companies to take effective decisions.
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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