Global 3D scanner market to double in 7 years
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Global 3D scanner market to double in 7 years

3D scanning is an industry on the rise. According to Wikipedia: “a 3D scanner is a device that analyses a real-world object or environment to collect data on its shape and possibly its appearance.” With the appearance of 3D printing capabilities and modeling software, the need for this kind of technology is pretty self-explanatory. It’s a fundamental part of a quiet revolution in manufacturing. But now, Orbis Research has released an in-depth study on the industry that predicts it will double in size between 2015 and 2022!

Hexagon AB has had a strong month

SOURCE: Yahoo Finance

Quoting Stratistics MRC, Orbis note that the global 3D scanner market accounted for $4.16 billion in 2015. According to the report, this will grow to a respectable $8.14 billion by 2022, with a compound annual growth rate of 10.1%!

In a press release, the company summarized the reasons for the growth:

“Regenerating prototypes while manufacturing new models in various industries such as automobile, defense, and consumer goods had demanded the need for 3D Scanners which optimizes the overall requirement of time, cost and efforts. Various factors such as affordability, high efficiency, ability to generate fast as well as accurate results is likely to drive the market size, wherein growing emphasis on continual improvement in software as well as hardware is expected to make technology more accessible to users and is also likely to drive sales over the forthcoming years.”

This is great news for Dominion holding Hexagon AB, which is one of ten companies named in the report.

Hexagon has been making a concerted effort to push into this space over the last few years. Just ten months ago it acquired AICON 3D Systems in a clear bid for a bigger piece of the action. Speaking then, Hexagon’s CEO, Ola Rollén, said: “AICON is a recognized brand with strong core technical competence across its development teams and its scanner portfolio is a strategic fit.”

Dominion holds Hexagon AB in its Global Trends Managed Fund. 

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