Technology Advances to Drive 3D Printing Market Growth
Global Strategic Business Report from Research and Markets points to increased demand and emerging new applications.
A report by Research and Markets (www.researchandmarkets.com) at the close of 2014 suggests that future market potential for 3D printing technology is almost unlimited. While the short-term market is largely represented by rapid prototyping and highly customized, low-volume products, technology advances, expanding application areas, and government funding will likely spur both supply and demand for 3D printing systems and services.
Forthcoming advances in 3D printing capability include increased print speeds and reduced restrictions on object size. As the technology becomes more user friendly, the retail, automotive, medical, and aerospace sectors are expected to continue exploring 3D print applications for their respective fields.
According to the report, the US represents the single largest market worldwide with growth driven largely by the availability of low-cost printers and increased adoption among hobbyists and entrepreneurs. An eastern market is expected to emerge as well, however, with the Asia-Pacific region projected to grow at a CAGR of 18 percent.