3D Technology Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $175.1 billion by 2020, registering a CAGR of 21% during the period 2013-2020. The most comprehensive and strategically analyzed report titled 3D Technology Marketby 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) Size, Share, Trends, Analysis, Growth and Global Forecast, 2012 - 2020.
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, 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 the growth are high quality of service provided by 3D devices in terms of resolution, accuracy, depth perception, enhanced display capabilities. 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.
In 3D product market, 3D displays generated maximum revenue in 2013, followed by 3D imaging software; however, 3D printing will be the fastest growing product segment during the forecast period. In the geography market, North America will continue to lead in revenue generation, mainly due to access to better infrastructure and adoption of advanced technology among the end users. The fastest growing market is projected to be Asia Pacific region during the analysis period.