VANCOUVER, B.C., Sept. 29, 2020
- Investment by the government in 3D printing projects and reduced manufacturing and process downtime will drive the market demand
- Market Size – USD 10.71 Billion in 2019, Market Growth - CAGR of 13.7%, Market trends – Growing demand from the medical and consumer goods industry
VANCOUVER, B.C., Sept. 29, 2020 /PRNewswire/ -- The Global 3D Printing Market is forecast to be worth USD 28.23 Billion by 2027, according to a new report by Emergen Research. The industry for 3D printing is witnessing a surge in demand as there is an increased application in consumer products, automotive, and medicals, among others. The reduction in errors and overall time and development cost, ease in manufacturing, and the ability to build intricate tailored designs are driving market growth.
The market is revolutionizing the industry with automation becoming a norm in manufacturing sectors. It will witness increased investment by manufacturing companies as it reduces cost by limiting the need for man force and can produce goods locally. However, deployment of large-sale 3D printing is quite high, and lack of governing bodies for the regulation of the market will curb the growth of the 3D printing market.
Technological advancement has led to a lower cost in tools, materials, and technology, which have made manufacturing more feasible. It helps end-users prototype, design, and model structures, which is fostering the growth of the market. As the medical sector is embracing innovative technology to design prosthetics and the rising investment by the government all over the world, the healthcare sector is augmenting the market demand.
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Key Highlights From The Report
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For the purpose of this report, Emergen Research has segmented the Global 3D Printing Market on the basis of offering, process, application, industry verticals, technology, and region:
Offering Outlook (Revenue, USD Billion; 2017-2027)
Process Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Industry Verticals Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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