Faro Technologies Inc.-Company profile, Business Overview, Financial Performance, Operating Segments, Strategic Moves, and Competitive Intelligence Report

The 3D scanning is a process in which three-dimensional attributes of an object are captured along with information such as colour and texture. The technology saves time, cost and efforts during the manufacturing process and improves the quality of output. The market is expected to grow at a substantial CAGR during the forecast period. The growth would be primarily driven due to technological advancements, benefits over 2D scanners, etc. However, high prices of 3D scanners limit the industrial adoption of the products. The market is expected to grow rapidly on the account of flourishing entertainment industry across the world, especially in Asian region. The developments in healthcare sector are also expected to contribute significantly to the adoption of 3D scanning technology.