Drivers & Restraints
- Growing applications of 3D technology in various end-user industries
- Rising demand for 3D technology in the entertainment and animation industry
- Increasing investments by private companies and government funding driving the development of cost-effective 3D printing services
- Growing CAD-based manufacturing applications of individualized custom parts and components
In addition, continuous advancements in 4D technology and high research initiatives in developing 4D printing for commercial use is expected to create an array of growth opportunities for this market. Also, the healthcare sector is anticipated to be a huge potential market for 3D applications, owing to the continuous advancements in technology. However, lack of non-standard delivery format and output devices is likely to hinder the market growth.
Projected to grow at a CAGR of 16.17% during the forecast period from 2016-2022, the value of the global 3D & 4D technology market is expected to reach USD 314.17 Billion by the end of 2022. Of all the regions, North America is expected to be the largest market in 2016, whereas Asia-Pacific is likely to experience the fastest growth over the forecast period, with it expected to grow at the highest CAGR.
Based on end-user industries, the market for military & defense for 3D & 4D technologies is expected to grow at a high CAGR during the projected period. Apart from this, the entertainment industry is expected to drive the growth of this market in a major way. Among technologies, the segment of 3D input devices is projected to grow at the highest CAGR between 2016 and 2022, owing to the increasing demand for 3D printers and faster quality check and inspection methods.
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The global market for 3D & 4D technology has been analyzed and predicted on the basis of the following segmentation:
- Technology: 3D Input Devices, 3D Imaging Solutions, 3D Output Devices, 3D Applications
- End-User Industries: Military & Defense, Automotive, Construction, Consumer, Engineering, Entertainment, Healthcare, Others
- Region: North America, Europe, Asia-Pacific, RoW
The major companies functioning in the global market for 3D & 4D technology include Samsung Electronics Co Ltd.(South Korea)., Faro Technologies, Inc. (U.S.), Hexagon AB (Sweden), Autodesk, Inc. (U.S.), Dassault Systems S.A (France), 3D Systems Corporation (U.S.), Stratasys Ltd. (U.S.), Dreamworks Animation SKG, Inc. (U.S.), Vicon Motion Systems Ltd.(U.K.), Barco NV (Belgium), Dolby Laboratories (U.S.), Sony Corporation (Japan), Google Inc. (U.S.), Cognex Corporation (U.S.), and Qualisiys AB (Sweden).