Market Research Future published a half-cooked research report on “3D Technology Market- Forecast to 2023” Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023 —
3D Technology Global Market - Overview
3D technology has made a revolutionary change in the various markets such as entertainment and media, gaming, healthcare, automobile and other fields. 3D technology has changed the entertainment industry in a revolutionary way by introducing 3D movies with help of 3D displays, 3D Camera, 3D sounds which enhances the user experience and drive the 3D technology market in entertainment industry. 3D technology also booming the market of automobile industry due to introduction and adoption of 3D printing. However, 3D printing results in innovative changes in manufacturing process which results in stronger, lighter and durable vehicles in low cost. Strati known as world’s first 3D printed cars, manufactured by local motors, is a perfect example of 3D printing application in automobile industry. Light Cocoon, Genesis, Urbee are other 3D printed cars. 3D technology is also used in the healthcare industry to examine patients, using 3D model, however it helps doctors and surgical teams to prepare for the surgery using the 3D model of a part of patient’s body which reduces surgery time, also helps patient to fully understand the surgical procedure. Also, 3D printing is used in personalized prosthetics, bio-printing, tissue engineering, pharmacology, to make 3D printed skins for burn victims, which are expected to grow the market of healthcare industry along with 3D technology market. However, lack of infrastructure, lower awareness are restraining the market growth.
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Major Key Players:
The prominent players in the 3D Technology market are 3D Systems, Inc. (U.S.),3D Hubs (Netherland), WASP 3D (Italy), Voxel8, Inc. (US), Faro Technologies, Inc. (US), Hexagon AB (Sweden), HP Development Company, L.P. (US), Panasonic Corporation (Japan), ExOne (US), Sony Corporation (Japan), among others, are profiled in Market Research Future analysis and are at the forefront of competition in the 3D Technology market.
According to Market Research Future, the 3D Technology Market is growing rapidly over 15% of CAGR and is expected to reach at USD 145 billion by the end of forecast period.
Growing Adoption And Applications In An Array Of Industries Is Expected To Drive A Momentous Demand
The explosive adoption of virtual reality in a host of applications ranging from aerospace, defense, gaming, training, industrial, medical sector, consumer electronics and others are driving a faster growth. Demand for better user experience has led to the adoption of the technology in new generation PC especially for designing and architectural application.
The 3D images are more interactive and closer to reality, which allows for greater accurate and precise representation of the object. Growing need for precise surveying and increasing application expanse such as geography, atmospheric research, meteorology, archaeology, astronomy, geology, seismology, and forestry is the prime driver of the market. The ability to develop high-resolution maps and mapping hidden morphological structures not possible by conventional technology is the excellent advantage of 3D.
High Installation And Maintenance Cost Coupled With The Nascent Stage Of The Technology Is A Prime Restraint On The Market. The high cost of installation and maintenance, high degree of secrecy owing to the strategic nature of 3D technology hampers the development of the market.
January 2018, Manufacturers including General Electric and Siemens are heading towards 3D printing startups.
3D printing reduces material cost, improve product performance, saves time in manufacturing the product, increase design freedom due to which large companies are adopting 3D printing. However, General electric acquired printer manufacturer such as Arcam and Concept laser also siemens acquired 3D printing manufacturer Materials solutions.
June 17, Swedish based company Hexagon AB acquired 3D metrology company AICON 3D systems.
The 3D scanning market is expected to expand over next few years. Hexagon AB a Swedish based company has acquired AICON 3D Systems a Germany based portable and optical non-contact 3D measuring systems provider. Hexagon sees opportunities to further expansion of AICON globally using Hexagon’s global footprint. Hexagon is expected to make AICON’s 3D scanning and optical metrology technology even more affordable, efficient and powerful.
The regional analysis of 3D technology market is studied for North America, Europe, Asia Pacific and Rest of the World. North America is expected to dominate and hold the largest market share of 3D technology as increasing number of key players, adoption of technological advancement in 3D products and increasing investments in different sectors for 3D technology adoption such as industrial manufacturing, media and entertainment, healthcare. Asia-Pacific is expected to grow due to introduction of new technologies by Sony corporation and other players in asia-pacific such as 3D cameras, 3D sensors, 3D creator app based on augmented reality, 3D scanner which is expected to drive the growth of market in this region.
Germany, France and UK dominate the European market of 3D technology as applications in 3D designing is growing. Further, Europe constitute major 3D printing technologies which are expected to drive the growth of 3D printing in this region.
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• Technology Investors
• Healthcare Companies
• Government Organizations
• Research/Consultancy firms
• Defense Organizations
• Original equipment manufacturers (OEMs)
• Research/Consultancy firms
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