Global 3D Printing Technology Market- Ecosystem will be Growing CAGR at 25.50 % from 2020-2023

With advancements in technology and innovation in products, 3D printing technology has found applications in multiple areas, such as jet engines, advanced prosthetics implants, and even living tissue printing. The 3D printing technology market is constantly being driven by technological developments, which ensure higher flexibility and faster designing. Manufacturers across different verticals have recognized the benefits offered by 3D printing such as faster production, easy accessibility, tangible design and product testing, unlimited shapes and geometry, and better quality. With help of 3D printing technology, material wastage on each product is reduced by manufacturers.

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3D printing is a revolutionary and modern technology with the ability to bring transitional changes in manufacturing and businesses. It allows the conversion of digital documents into tangible objects and helps in designing, scanning, sharing, and transferring digital creations of actual objects into 3D printing. 3D printing technology has grown significantly, from manufacturing of simple plastic models to producing useful components in the fields of fashion, surgical implants & prosthetics, batteries, robots, cloth, and others. According to AllTheResearch, the Global 3D Printing Technology Market will see substantial growth by USD 8.08 billion in 2018.

The segmentation of the Global 3D Printing Technology Market is based on technology. Technology is then further categorized into FDM, DMLS, Stereolithography, Inkjet printing, Electron beam melting, Laser metal deposition, Laminated object manufacturing, etc. Fused Deposition Modeling (FDM) has 19.52% share in this segment, which is the highest among all. FDM is a commonly used additive manufacturing technology for modeling, prototyping, and production. FDM is used for concept models and for building prototypes and functional parts. 3D printers, which use FDM technology for manufacturing components, create several layers by heating up thermoplastic materials into a semi-liquid form.

Global 3D Printing Technology Market- Ecosystem

North America holds the highest market share in 3D printing technology, followed by Europe, Asia Pacific, and Latin America. North America has raised its investment for the development of innovative technologies and applications of 3D printing and this investment is in healthcare, electronics, defense & aerospace, and other applications. This will be driving the market in future.

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