4D Printing Market Size - Technological Revolution Fueling Market Growth
The technology is an extension of 3D printing technology and offers customers and end users enhanced efficiency, quality, and performance abilities over manufacturing techniques. The rising demand from hardware manufacturers and software solution suppliers owing to technological advancements in scanning is anticipated to drive the 4D printing market growth. Technological advancements such as 3D digitization are offering end-users high resolution which will provide a positive impetus to the 4D printing market growth.
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The rising focus of companies on ensuring a sustainable environment is expected to drive the 4D printing market growth. Several companies have started applying the technology to manufacture and design products for the long run as a 4D printed product would help sustain less handling, transportation, and manufacturing costs, thereby saving efforts and resources. Over the years, the technology will be available to individuals, institutions, and professionals’ due to the unceasing developments, which will increase the demand and sales for 4D printing market.
Rising insecurity of policy makers owing to the technology not being commercialized, high development costs, and growing issues associated with intellectual property rights are some of the factors which are anticipated to hinder the 4D printing market development. However, the growing opportunities for key industry players are projected to subdue the factors, thereby propelling the industry growth over the forecast timespan.
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On the basis of end users, the 4D printing market can be bifurcated into industries such as aerospace, automotive, healthcare, military & defense, and others. The military & defense industry is expected to rise as the fastest growing segment due to its ability to self-replicate and repair itself in external environmental conditions. Several countries are developing modern technologies, which offer military & defense safety against toxic gases, providing a positive growth opportunity.
North America 4D printing market is expected to show a sturdy growth owing to the initialization of the concept. In the U.S., the growing focus on the technological advancements and growing number of investments in R&D have provided the technology ample growth opportunities. The government and researchers in the region are concentrating on developing 4D materials, which have the ability to adjust to diverse climatic conditions.
Key players operating in the 4D printing market include industry leaders and research facilities such as Autodesk, Inc., Dassault Systemes S.A., Materialise NV, Massachusetts Institute of Technology, Hewlett-Packard, Inc., Stratasys, Ltd., 3D Systems Corporation, ExOne Co., ARC Centre of Excellence for Electromaterials Science (ACES), and Organovo Holdings, Inc. These players are projected to witness high competition with a significant rise in the number of players.
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