Press release
Global 3D Printing Market - Ease of Usage Makes 3D Printing Immensely Popular, Market Poised to Expand at 16.80% CAGR
3D printing technology is primarily used for fast prototyping, mass customization, and speedy production. It is a cheap and easy-to-use technology, which assists customers to lower wastage of materials as well as the cost associated. It also helps in manufacturing eye-catching products and enhancing production efficiency by saving time.
Manufacturers are adopting this technology at a rapid pace, owing to the ease of use it offers when compared to traditional methods. The architecture, footwear, electronics, and automotive industries are the key end users of 3D printing. On the other hand, the inability to produce in bulk quickly is expected to hamper the growth of the global 3D printing market during the forecast period, according to the market report.
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The research study analyzes the worldwide 3D printing market on the basis of application and technology. Based on application, commercial 3D printing and personal 3D printing are the two main segments of the worldwide 3D printing market. By technology, polyjet, SLS, fuse deposition modeling, and stereolithography are the key technologies applied in 3D printing.The commercial 3D printing segment is leading the global 3D printing application market and is projected to retain its dominant position over the forecast period. Polyjet printing takes the top spot in the market on the basis of technology, states the report.
North America, according to the report, dominates the global 3D printing market at present and is closely followed by the 3D printing market in Europe. The immense rise in the medical and healthcare as well as aerospace and automotive industries in North America has triggered the demand for 3D printing in this region significantly.Analysts project the North America 3D printing market to maintain its dominance in the near future. However, the Asia Pacific market for 3D printing is likely to register the fastest growth over the forecast period, owing to the increasing uptake of 3D printing in dynamically developing industrial segments, reports the market study.
The report also offers an analysis of the major companies functioning in the global 3D printing market on the basis of their market share and future projects and presents the competitive landscape as well as the current market hierarchy of this industry.3D Systems Inc., Concept Laser Gmbh, Arcam AB, Eos Gmbh Electro Optical Systems, Optomec, Exone Gmbh, SLM Solutions Gmbh, Stratasys Ltd., Solidscape Inc., and Voxeljet Technology Gmbh are the key participants in the global market for 3D printing, states the report.
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