QtQuick3D is a Qt module providing high level 3D scene rendering using OpenGL for Qt/QML applications.
QtQuick3D adds 3D content to QtQuick's cross-platform ability and coding power. Developers of fluid user interfaces can now enhance their applications with 3D content in the same way icons and pixmaps would be used in a 2D application.
QtQuick3D is a product resulting from the qt3d project.
QtQuick3D is made up of the QML bindings for Qt3D (called QML3D) plus Qt Creator integration, and other supporting tools. Qt3D may be used to extend QtQuick3D by creating new user-defined QML3D items using C++.
OpenGL hardware was designed for 3D acceleration and QtQuick3D allows applications to utilise that 3D hardware fully.
QtQuick3D is the Qt Quick product for scripting 3D applications in QML. Apps can be 2D QML applications with a small amount of simple 3D content; through to complex 3D scenes, containing 3D assets - such as complex 3D models, and shader effects.
You can find more information on QtQuick3D Reference Documentation