Technology Advancements and Declining Costs Drive the Global 3D Printing Market, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on 3D Printing markets. Global market for 3D Printing is projected to reach US$4.5 billion by 2018, driven by the development of innovative printing techniques, expanding application areas and declining cost of systems and consumables.
San Jose, California (PRWEB) April 24, 2013
Follow us on LinkedIn — 3D printing is a transformative technology that is used in the manufacturing of a wide range of tools, parts, and appliances through the simple use of a digital model. Creating prototypes of new products represents the major commercial application of 3D printing, while direct digital manufacturing using the technique is limited to short production runs in few industry verticals. Market outlook in the 3D printing market is bullish with technology advances expected to drive market growth. Expanding application areas and funding support from government agencies are also expected to spur demand for 3D printing systems and services. Rising use of 3D models, ability to create customized products and declining cost of 3D printing systems and materials are encouraging the adoption of 3D printing as a replacement for conventional prototyping and manufacturing processes in consumer and professional markets.
The nascent stage of technology development and dominance of conventional manufacturing practices indicate that 3D printing is unlikely to drastically disrupt activities in the traditional manufacturing sector, at least not in the near future. 3D printing, in the short-term, is expected to be primarily used for rapid prototyping, and for direct manufacture of extremely complex and highly customized low-volume products. With increase in printing speed, elimination of restrictions on object size, and favorable manufacturing economics, the balance is likely to tilt in favor of 3D printing technology. Consumer products, automotive, medical, aerospace, and machines constitute the major end-use markets for 3D printing products and services. One of the most promising applications of 3D printing is in the field of healthcare, where 3D printers are being used to manufacture products such as custom-fit hearing aids, dental and orthopedic implants, and prosthetic limbs.
As stated by the new market research report on 3D Printing, the United States represents the single largest market for 3D printing products and services with growth driven largely by the availability of low-cost printers and increased adoption among hobbyists and entrepreneurs. Government support for 3D printing technologies as a means to stimulate growth in the domestic manufacturing sector also bodes well for the market´s growth. A key benefit of 3D printing is localized manufacturing, which represents a huge opportunity for developed nations that have outsourced manufacturing operations to low-cost destinations in the developing world. While developed regions such as the US and Europe have been at the forefront for developing and adopting 3D printing technologies, the volatile economic environment in the past few years has turned the focus onto emerging markets including China and India. Asia-Pacific represents the fastest growing regional market for 3D printing products with a projected CAGR of 21.4% over the analysis period. Growth in the market for 3D Printing Services is forecast to be driven by the rising demand for online 3D printing-as-a-services, owing to the spurt in demand for consumer 3D printer systems.
3D Printing Products are expected to witness rapid growth encouraged by the development of easy-to-use, less bulky, and multi-use 3D printers with the ability to rapidly produce conceptual models and prototypes. The adoption of consumer 3D printer systems is triggered by the emergence of online communities such as Shapeways and Thingiverse, which offer customers a wide range of digital product designs for download and subsequent printing using 3D printers. Availability of low-cost open source manufacturing kits is also driving hobbyists and individuals to adopt 3D printing technology.
Major players profiled in the report include 3D Systems Corporation, Bits from Bytes, Arcam AB, envisionTEC GmbH, EOS GmbH, MakerBot® Industries LLC, Stratasys Ltd., and Solidscape Inc.
The research report titled “3D Printing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets including the US, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, and Rest of World. Global and regional 3D printing markets are analyzed by 3D Printing Products and 3D Printing Services. The global 3D printing market is analyzed by end-use markets, such as Consumer Products, Automotive, Medical, and Others.
For more details about this comprehensive market research report, please visit —
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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