In the last few years, 3D printing technology has been gaining immense popularity. This technology is primarily being used for mass customization, fast prototyping, and speedy production. Technological advancements in this field and use-to-use and cheap products are expected to augment global 3D printing market in the coming years. Manufacturers across the globe are rapidly adopting this technology, thanks to which this market is estimated to witness robust growth in the near future. In addition, the development of print technology and 3D scan are likely to offer lucrative opportunities for market players.
According to a research study by Transparency Market Research (TMR), in 2012, the global 3D printing market was valued at US$2.2 bn and is projected to register a progressive 16.80% CAGR between 2013 and 2019.
Use of 3D Printing in Consumer Products to Bolster Global 3D Printing Market
The rising trend to manufacture technologically advanced products and the reducing cost of 3D printers are some of the vital factors estimated to supplement the growth of the global 3D printing market in the near future. In addition, the expanding applications in automotive industries and consumer products and the replacement of traditional manufacturing by 3D printing are projected to encourage growth of the market. On the flip side, the inability of mass produce in less time and infringement of intellectual property rights are anticipated to restrict the growth of the global 3D printing market in the coming years.
On the basis of application, the global 3D printing market can be classified into personal and commercial 3D printing. Among these, the commercial 3D printing segment is projected to lead the global 3D printing market and is likely to remain in the dominant position in the next few years. Furthermore, in terms of technology, the market can be categorized into fuse deposition modeling, polyjet, stereolithography, SLS, and others. According to the study, the polyjet segment is expected to lead the global 3D printing market in the near future.
Improving Healthcare Industry to Bolster North America 3D Printing Market
From a geographical viewpoint, North America leads the global 3D printing market and is expected to continue with its dominance in the next few years. The high growth of this region can be attributed to the significant rise the healthcare and medical sector. In addition, the developing automotive and aerospace industries is estimated to fuel the growth of the 3D printing market in North America. On the other hand, Asia Pacific is likely to register a progressive growth rate in the coming years, thanks to the growing uptake of 3D printing in diverse industrial segments.
Browse the full Global 3D Printing Market report at http://www.mrrse.com/3d-printing-industry
Some of the leading players operating in the 3D printing market across the globe are Slm Solutions Gmbh, Stratasys, Ltd., Voxeljet Technology Gmbh, Eos Gmbh Electro Optical Systems, Concept Laser Gmbh, Arcam Ab, Exone Gmbh, 3d Systems, Inc., and Solidscape, Inc. The expansion of application base is likely to attract the participation of several players, thus increasing the competition among players. Moreover, the rising focus of key players on research and development and innovations is expected to contribute towards the development of the overall market.