At 21% CAGR, 3D Technology Market Size to garner $175.1 Million by 2020

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3D Technology Market

The study observed that the global 3D technology market was valued at $46.0 billion in 2013, and is estimated to reach $175.1 billion, by the end of 2020, growing at a CAGR of 21% during 2013 – 2020.

North America is the largest geographical segment for the 3D technology market in 2013, accounting for about 40.9% of revenue. Entertainment remains the largest application segment, while 3D printing application is expected to exhibit the fastest growth during the forecast period.

In the 3D product market, 3D displays generated maximum revenue in 2013, followed by 3D imaging software; however, 3D printing will be the fastest-growing product segment during the forecast period. In the geography market, North America will continue to lead in revenue generation, mainly due to access to better infrastructure and the adoption of advanced technology among the end-users. The fastest-growing market is projected to be the Asia Pacific region during the analysis period.

The three-dimensional (3D) technology has gradually evolved as a primary technique for modeling, prototyping, and imaging in various applications over the past few years. With a higher level of accuracy, precision in data, easier reverse engineering, and better communication platform, the 3D technology market is expected to grow at CAGR of 21% during 2013-2020. However, higher cost, lower awareness and lack of infrastructure are hindering the market growth.

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Major factors responsible for the growth are the high quality of service provided by 3D devices in terms of resolution, accuracy, depth perception, enhanced display capabilities. In addition, the 3D printing industry is projected to be the most attractive segment in the overall application market, accounting for about 5.3% of 3D technology market revenue in 2020. Aerospace would be the segment of focus for the 3D printing industry during the forecast period, whereas, healthcare would also render growth prospects for 3D printing.

In the 3D product market, 3D displays generated maximum revenue in 2013, followed by 3D imaging software; however, 3D printing will be the fastest-growing product segment during the forecast period. In the geography market, North America will continue to lead in revenue generation, mainly due to access to better infrastructure and the adoption of advanced technology among the end-users. The fastest-growing market is projected to be the Asia Pacific region during the analysis period.

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