Cinema has been revolutionized with the advent of 3D technology. It is due to 3Dtechnology that cinema viewers can feel a part of action, especially animated and children’s film have changed the viewer’s experience with the use of this ever growing 3D technology. Apart from cinema, 3D technology is also proving its potential in other fields like printing, sports, government, healthcare etc.
Surely, 3D technology has a bright future. Hence, 3D technology market is becoming one of the most lucrative sectors for investors and other I.T companies. Many firms have started looking at 3D technology to take the advantage of its increasing application. Latest market research report by Allied Market Research concur with growing scope of global 3D technology market and brings good news for investors.
As per the observations made in the report, 3D technology market is geared up to reach $175.1 billion, by the end of 2020, growing at a CAGR of 21% between 2013 and 2020. North America is expected to be the highest revenue contributor in the forecast period, accounting for 40.9% of the total revenue. This report outlined entertainment as the largest application segment in 3D technology, however it also observed that 3D printing will exhibit the highest growth rate.
Why North America is poised to be the highest revenue generator?
North America is home to advanced technological infrastructure. Thus, 3D technology finds a larger scope in North America. In North America, Consumer pattern is also more flexible towards new and advanced technologies. Also, many North American companies, especially, U.S. companies invest a lot I research and development. Hence, all these factors make North America to generate the highest revenue in 3D technology market.
Lower privacy risk
Enhanced communication platform
Easier reverse engineering
Lack of infrastructure
Lack of awareness
Higher investment cost
Let’s know more about 3D technology market segments:
As per the report, 3D technology market is segmented into products and applications market.
Under Products segment of 3D technology market, report outlines the following:
Under Applications segment of 3D technology market, report outlines the following:
3D Printing Industry
Government and Defense
Industrial and Manufacturing
In 2013, entertainment among application segment was the highest revenue generator, account for about 39% of the total global 3D market; whereas, healthcare was the second highest revenue generator. Further, Entertainment market is estimated to grow at a CAGR of 22.3% from 2013 – 2020.
Aerospace industry may be the center of attraction for 3D printing technology. However, healthcare sector is also showing positive signs for the growth of 3D printing technology.
Asia Pacific region is expected to show the highest growth rate in 3D technology market.
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.