In its latest research into the three-dimensional (3D) technology market, Allied Market Research today revealed that the 3D industry was valued at $46.0 billion in 2013, and is estimated to reach $175.1 billion by the end of 2020, growing at a CAGR of 21% during 2013-2020.
The report divided the sector into three parts: Products (3D Printing, 3D Glasses, 3D Cameras, 3D Displays); Applications (3D Printing Industry, Entertainment, Healthcare, Government and Defense, Aerospace, Industrial and Manufacturing, and Architecture); and Software (3D scanning, 3D Modeling, 3D Rendering, 3D animation, 3D reconstruction).
North America is the largest geographical segment for the 3D technology market in 2013, accounting for about 40.9% revenue. Entertainment remains the largest application segment, while 3D printing application is expected to exhibit the fastest growth during the forecast period.
The three-dimensional (3D) technology has gradually evolved as primary technique for modeling, prototyping and imaging in various applications over the past few years. With higher level of accuracy, lower privacy risk, precision in data, easier reverse engineering, and better communication platform, the 3D technology market is expected to grow at CAGR of 21% during 2013-2020. However, higher cost, lower awareness and lack of infrastructure are hindering the market growth.
The ever increasing adoption of 3D technologies in various application segments such as healthcare, aerospace, entertainment, and architecture is compounding the growth of the 3D technology market. Among various applications, entertainment industry generated the maximum revenue in 2013, followed by the healthcare segment. Entertainment industry accounted for about 39% of the global market in 2013, and the market is expected to grow at CAGR of 22.3% during 2013 – 2020.
Major factors responsible for this growth are high quality of service provided by 3D devices in terms of resolution, accuracy, depth perception, enhanced display capabilities and lowered risk of piracy. In addition, 3D printing industry is projected to be the most attractive segment in the overall application market, accounting for about 5.3% of 3D technology market revenue in 2020. Aerospace would be the segment of focus for 3D printing industry during forecast period, whereas, healthcare would also render growth prospects for 3D printing.
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