3D printing is a multi-layer printing process that involves developing physical objects with the help of digital design that uses substrate compounds as an input and also called as additive manufacturing. Photopolymerization, material extrusion, material jetting, binder jetting, powder bed fusion, direct energy deposition and sheet lamination are the seven types of 3D printing technologies prevalent in the market. The components used in 3D printing may vary from plastics, ceramics, wax, metals, sand to glass, biomaterials, etc. Different types of technologies have different modes of creating physical objects based on the input substances. 3D printing technologies allow both physical to digital file conversion and digital file to physical product conversion with the support of advanced scanning technology.
The innovation changes in the technology and available materials have improved the capability of 3D printing in the recent years, and it is evolving rapidly to offer benefits beyond advertising. The applications of 3D printing are growing in the leading industries like aerospace, defence and automotive. The increasing awareness about the benefits of 3D printing and the ability to use technology for prototyping, tools, fixtures and finished products is expanding its use in various other industries as well.
Several factors like raising awareness about 3D printing and its advantages, increasing innovation capabilities, controlled expenses in lifecycle management, and the decrease in the marketing time are promoting the market for 3D printing devices. Furthermore, the advancements in the healthcare 3D printing technology, increasing investments from public and private sector for encouraging the use of 3D printing technologies, and the growing demand for organ transplantation are also adding fuel to the growth of 3D printing devices, services and suppliers market. On the flip side, the concerns related to the quality of products and market regulations, shortage of skilled professionals for 3D printing, problems in the selection of appropriate resources, along with reimbursement and Bio-compatibility issues are restricting the expansion of 3D printing devices market.
The global 3D printing devices, services and suppliers market registered net worth of around USD6.0 billion in 2016 and is predicted to grow at a CAGR close to 25.8% to reach around USD29.0 billion by 2024f, between the forecast period of 2017e to 2024f.
Based on the geographical presence, Asia Pacific region is segmented as India, Japan, China and Rest of Asia Pacific. It is the fastest growing region of the worldwide 3D printing devices market. Japan is the largest economy for 3D printing devices, services and suppliers market contributing almost one-fourth of the total region market share. Japan, along with China is expected to witness huge growth in the market due to the increasing investments from the government in 3D technologies.
The report delivers a strategic analysis of the global market for 3D printing devices, services and supplies; and growth forecast for the period from 2017e – 2024f. The scope of the report includes industry analysis, competitive analysis of various market players who are operating in the market, segmental analysis based on type of product and application areas. It also covers geographical analysis of the market with growth forecast for the period of 2017e – 2024f. The Porter’s Five Forces analysis and competitive analysis included in the report provides an insight into market dynamics and industry competition.
The study also provides information for recent merger and acquisition deals happened in the market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry, financial analysis and various business strategies adopted by them. This report will help players in global 3D printing market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.
The company profile section includes detailed analysis of some of the key players such as 3D Systems Corporation, Arcam AB, The ExOne Company, Stratasys Ltd., EOS GmbH Electro Optical Systems, EnvisionTEC, Materialise NV, XYZprinting, SLM Solutions Group AG, and M3D.
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