3d Technology Market Outlook – 2030
The global 3D technology market size is expected to reach $703.4 billion by 2030 from $171.4 billion in 2020, growing at a CAGR of 16.3% from 2021 to 2030.
3D technology is delivering three-dimensional views of the captured images or data. There is an increase in demand for 3D technology-based products in various application sectors such as entertainment, healthcare, aerospace, government & defense, entertainment & automobile, and industrial segments. 3D technology creates a highly accurate and precise image of an object. Use of 3D technology in various application segments is projected to help save production time and cost. Designers get a readymade tool to have an intuitive understanding of the feasibility of any product right at the initial stages.
Looking at the potential of the technology, many governments are looking into 3D printing. This step by the governments is acting as a major driving force that is projected to help increase the demand for 3D printing technology. The 3D printing technology market is witnessing growth due to the conducive environment. Furthermore, the 3D concept in aerospace is a very exciting idea, as 3D printer technology can manufacture lightweight structures. Also, 3D printing technology can deliver parts that are strong enough and allow them to fly. With the help of 3D printing technology, it is possible to manufacture a light material structure and eliminate the need for heavy bolts and nuts.
3D printing technology-based products are capable of withstanding high temperatures and heavy mechanical loads. This is anticipated to change the future of the aerospace industry. Materials that are used in manufacturing parts can sustain a higher temperature range than 3D printer material, which is between 63 and 67°C, which will increase the performance level of the parts. Higher temperature materials, such as PolyJet, photopolymer, and rubber, can deliver adjustable properties.
Segment Overview
The 3D technology market share is segmented based on product, application, and region.
By product, the market is divided into 3D printing, 3D glasses, 3D display, 3D imaging, 3D camera, and 3D Scanner.
By Product
3D Display segment will dominate the market throughout the forecast period
Depending on the application, it is categorized into media & entertainment, automotive, industrial, healthcare, military & defense, and others.
By Application
Military and Defense segment will maintain the lead during 2021 - 2030
Region-wise, the 3D technology market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the market due to an increase in the adoption of enhanced technologies in the industrial sectors
By Region
Asia-Pacific region will exhibit the highest CAGR of 17.7% during 2021 - 2030
Top Impacting Factors
The prominent factors that impact the 3D technology market size include a rise in demand for 3D technology in the entertainment industry, the surge in demand for 3D technology-based devices in consumer electronics, and government initiatives toward the use of 3D products. However, the high maintenance costs of 3D devices restrict the 3D technology market growth. On the contrary, high adoption of 3D cameras, scanners, sensors, printers, and displays in military and defense is expected to create lucrative opportunities for the market. Therefore, these factors are expected to affect the growth of the global 3D technology industry during the forecast period.
Competitive Analysis
Competitive analysis and profiles of the major market players such as 3D Systems Corporation, American Paper Optics, Autodesk Inc., ExOne Company, Panasonic Corporation, Stratasys Ltd., TomTec Imaging Systems GmbH, Hexagon AB, Vicon Motion Systems Ltd., are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.COVID-19 Impact Analysis
The outbreak and the spread of COVID-19 have significantly impacted players operating in the 3D technology market. The increased global demand for automotive is one of the key factors fueling the growth of the 3D technology market. However, the sales of automobiles have decreased significantly worldwide, owing to lockdowns imposed by different governments to contain the spread of COVID-19, which has impacted the growth of the 3D technology market. Moreover, these lockdowns have also impacted the GDP of countries and the per capita income of individuals across the world. The slowdown in production by OEMs and reduction in demand for 3D devices and other electronics devices have slightly decreased the growth of the 3D technology market. Shortages of components and materials have significantly impacted the global supply chains. In addition, reductions in various capital budgets and delays in planned projects in various industries have hampered the global economy.
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the global 3D technology market outlook along with the current trends and future estimations to depict the imminent investment pockets.
- The overall 3D technology market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and 3D technology market opportunities with a detailed impact analysis.
- The current 3D technology market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the 3D technology market share of key vendors.
- The report includes the market trends and the revenue share of key vendors.
3D Technology Market Report Highlights
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Analyst Review
The 3D technology market holds high potential in the automotive and industrial sectors. The current business scenario experiences rapid development in 3D technology, which leads to readiness to adopt particularly in the developed and developing regions such as North America, Asia-Pacific, and Europe.
Asia-Pacific is the leading supplier of materials for manufacturing of 3D devices across the globe. Also, Asia-Pacific has witnessed a wide-scale adoption of these 3D technology in the recent years, owing to increase in their demand in healthcare and military & defense sectors. Companies operating in the 3D technology market have a robust supply chain network owing to the high penetration of local players in this market.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, collaboration, and partnership are expected to be the prominent strategies adopted by the market players.
The 3D Technology Market is estimated to grow at a CAGR of 16.3% from 2021 to 2030.
The 3D Technology Market is projected to reach $703.4 billion by 2030.
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Rise in demand for 3D technology in entertainment industry and consumer electronics etc. boost the market growth.
The key players profiled in the report include 3D Systems Corporation, American Paper Optics, Autodesk Inc., and many more.
On the basis of top growing big corporations, we select top 10 players.
The 3D Technology Market is segmented on the basis of product, application, and region.
The key growth strategies of 3D Technology market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
3D Printing segment will grow at a highest CAGR of 18.1% during the forecast period.
North America region will dominate the market during 2021 - 2030.
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