3D Printing Market is Poised to Grow Due to Improved Innovation and Customization
3D printing market was evolved in early 1980s, as a form of prototyping. Later in 2000s’ it is commercialized and termed as additive manufacturing or 3D printing. 3D printers can be vastly used in industries such as automotive, healthcare, media and entertainment, architecture and others. 3D printing enables the industries to manufacture complex parts with the ease of special tooling, reducing the cost and time to market. With continuous innovations in 3D printing, complex body parts used in aerospace and defence industries can be easily manufactured with the help of 3D printers.
According to the latest market outlook research from Quadrant Knowledge Solutions “3D Printing Market Outlook – Market Forecast, Trends, and Analysis Through 2020” the market is expected to grow at a CAGR of 26.1% from 2016-2020. The 3D Printing market is expected to reach nearly $8.27 billion by 2020. Regionally majority of this growth is expected to come from Asia region owning to the increasing infrastructure and demand for electronic, automotive and pharmaceutical products according to Quadrant Knowledge Solutions.
The 3D printing market outlook study provides detailed information about market trends and challenges. In addition to strategic insights, the study provides market forecast analysis by key geographical regions, industry verticals, and components type.
3D Printing Market Is Taking Healthcare to New Paradigm
With the use 3D printing medical technologies and devices are becoming inexpensive over the time. This sudden price shift in medical technologies may disrupt the ever increasing medical cost. Apart from being inexpensive, 3D printing can assist in diagnosing complex medical cases, supports a testing plan and enables to review the critical operations, before actually leading the operation. This technology may also enable to transform patient specific data into a tangible prototype that can actually change the dimension of medical science.
Further, 3D printing can also print a complex and customized body part or an organ that can be matched to individual. 3D imaging is yet another tool to assist in the diagnostics of the patients. Radiologists are continuously working on 3D imaging technology, to take 3D printing to a new paradigm. 3D imaging can help patients in determining better treatment plans by providing additional evidences of the disorders.
3D Printing Enables Faster Innovation and Improved Customization
With gearing technological advancements customization and innovation is becoming norms for every industry, in order to remain competitive. Industries offer tailored need to their customers at the price of standard products, in order to retain and gain customers. In earlier days, customization was expensive, but with the arrival of 3D printing technology complex and customized customer needs can be taken care of. New automotive models, home appliances are now designed faster, owing to the 3D printing technology.
3D printing for prototyping is an old science, but with technological advancements in place there is an increase in the range of printable models, and customized parts. Designers are now harnessing 3D printing technology by faster innovation.
Owing to these needs, suppliers are continuously coming up with advanced technologies on 3D Printing. In result, 3D Printing market is expected to grow significantly in near future. 3D Printing Market Outlook – Market Forecast, Trends, and Analysis Through 2020 is a part of Automation and Control research of Quadrant Knowledge Solutions.
For more information about this market outlook research, please write to info@Quadrant-Solutions.com. You can also visit our Market Research page for more information of available studies.
Keywords: 3D Printing, 3D Printers, Aerospace and Defence, Healthcare, Automotive, Disruptive Technologies, 3D imaging Accuracy, High Precision, Complexity, Market Research, Market Size, Market Share, Competitive Strategy, Market Forecast, Key Trends, Market Drivers, Market Restraints, Market Challenges, Innovation, Technological Advancements
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