Current Trends In 3D Modelling

I struggled with this one, to be quite honest. When I google'd "trends 3D modelling" I did not know where to start looking.

Techniques of modeling

I guess I'll start by saying that there are many ways of modeling an object, and the popularity of one specific way may depend on what the artist prefer, and what is most cost efficient for the client. There are 7 common modeling techniques used in the industry. They are:

• Box/Subdivision Modeling: Box modeling is a polygonal modeling technique in which the artist starts with a geometric primitive (cube, sphere, cylinder, etc.) and then refines its shape until the desired appearance is achieved.
• Edge/Contour Modeling: Edge modeling is another polygonal technique, though fundamentally different from its box modeling counterpart. In edge modeling, rather than starting with a primitive shape and refining, the model is essentially built piece by piece by placing loops of polygonal faces along prominent contours, and then filling any gaps between them.
• NURBS/Spline Modeling: NURBS is a modeling technique used most heavily for automotive and industrial modeling. In contrast to polygonal geometry, a NURBS mesh has no faces, edges, or vertices. Instead, NURBS models are comprised of smoothly interpreted surfaces, created by "lofting" a mesh between two or more Bezier curves (also known as splines).
• Digital Sculpting: In digital sculpting, meshes are created organically, using a (Wacom) tablet device to mold and shape the model almost exactly like a sculptor would use rake brushes on a real chunk of clay. Digital sculpting has taken character and creature modeling to a new level, making the process faster, more efficient, and allowing artists to work with high-resolution meshes containing millions of polygons. Sculpted meshes are known for previously unthinkable levels of surface detail, and a natural (even spontaneous) aesthetic.
• Image Based Modeling: Image based modeling is a process by which transformable 3D objects are algorithmically derived from a set of static two-dimensional images. Image based modeling is often used in situations where time or budgetary restrictions do not allow for a fully realized 3D asset to be created manually. This method was perhaps most famously used on The Matrix.
• 3D Scanning: 3D Scanning is a method of digitizing real world objects when an incredibly high level of photo-realism is required. A real world object (or even actor) is scanned, analyzed, and the raw data (typically an x,y,z point cloud) is used to generate an accurate polygonal or NURBS mesh. Scanning is often used when a digital representation of a real-world actor is required, as in The Curious Case of Benjamin Button where the lead character (Brad Pitt) aged in reverse throughout the film.

Source

Examples of the 3D modeling pipeline

Some amazing examples of the 3D modeling pipeline are some of the brilliant models made for the project called Dominance War. This is an annual game art competition where for 3 months ever year, artists world wide come together to participate in a friendly 2D, 3D and Animation challenge between communities. 

Above, is the winner of Dominance War 2. This character has been named Bigun, and is the creation of Taehoon.

The winner of the previous year's DW, was Vitaliy Naymushin. His creation was a Necromancer named General Corum. 

http://www.dominancewar.com/1/finals/team_2/7_mrRockstar/3.htm

Here you can see the blank model, the model with a normal map, and the final render of the model with textures.