This industry research report presents a wide-ranging study of the global 3D printer market and segmentation by end-user (automotive, consumer products, healthcare, aerospace and military, and others) and by geography (the Americas, APAC, and EMEA). The report also discusses the major drivers influencing the growth of the market and a complete evaluation of the key vendors operating in the market, including 3D Systems, EnvisionTEC, ExOne, and Stratasys.
Technavio’s market research analysts estimate the global 3D printer market to generate revenues of $11 billion between 2016 and 2020. Currently, 3D printers are being used in automotive, aerospace and defense, industrial and commercial, medical, government, construction, and education sectors. However, manufacturers are extending to new applications such as the introduction of 3d print sex toys. The Americas dominate the global market for 3D printers, accounting for 53% of the overall market revenues. The increase in usage of 3D printers in healthcare and military segments is the primary driver for the market growth in this region.
The new market research report from Technavio provides a breakdown and analysis of the 3D printer segments by technology.
“One of the interesting trends gaining traction in the 3D printer market is the concept of bioprinting. Bioprinting involves the production of human organs by using human cells to create functional human tissue with the help of 3D printers. The motive behind bioprinting is to produce human organs that can be used in transplants,” says Navin Rajendra, Industry Manager, Hardware & Semiconductor, Technavio Research.
The automotive segment dominates the 3D printer market, with a market share of more than 21%. However, the growth of the consumer products segment is expected to elevate during the forecast period with the rising demand for consumer-oriented 3D printers coupled with the decline in average selling price (ASP) of these printers.
The key vendors in the global 3D printer market include 3D Systems, EnvisionTEC, ExOne, and Stratasys. This market is highly fragmented because of the presence of numerous small and large vendors. The vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. Factors such as falling ASPs, rapid advances in technology, and high fragmentation because of many vendors are intensifying the competition among the vendors. Also, with the ever increasing possibilities of using 3D printers across numerous applications and its tremendous potential is driving the competition in the market.
A more detailed analysis is available in the Technavio report, Global 3D Printer Market 2016-2020.
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