London, 20 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the 3D Printer Market in South Korea 2014-2018, which is expected a CAGR of 37.9 percent during the forecast period of 2013-2018.
A 3D printer creates 3D objects of any shape without any molding, assembly, or use of machines. It helps in making high-end goods at a reduced cost. 3D printing, also known as additive manufacturing, uses computer-aided designs to create an object. It is a process of making 3D objects using plastic, metal, and composite materials, usually layer upon layer, to build physical models, prototypes, patterns, tooling components, and production parts.
“The Automotive sector is one of the major growth areas for the 3D Printer market. The majority of automobile manufacturers are now shifting from traditional production techniques to highly customizable 3D printing manufacturing of functional parts and prototypes,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Demand for Quick Turnaround Time
- Increase in Popularity of 3D Printing
- Increase in Demand for Customized Products
- Increase in Usage of 3D Printers in the Healthcare Sector
Key Market Trends
- Rapid Growth of 3D Printing among Entrepreneurs and Consumers
- Increase in Government Aid
- Increase in Interest to Invest in 3D Printing by IT Companies
- Emerging Demand from the Automotive Sector
- Emergence of Bioprinting
- Increase in Number of Mergers and Acquisitions
Key Market Vendors
- 3D Systems Corp.
- EnvisionTEC
- ExOne Co.
- Stratasys Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
