Automated 3D printing Market
Global report published by Accurize Market Research forecast that the global market is expected to reach $3.6 billion by 2024; growing at a CAGR of 21.6% from 2017 to 2025. By geography, the Asia Pacific and North America is expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Increased government spending on the military to drive the market
Increasing preference of 3D printing over conventional techniques, growing investments on 3D projects, need for effective use of raw materials and need to reduce development cost and time are some of the major drivers boosting the growth of the global 3D printing market include. Though, limitations in material consumption, high cost involved in the process, and the dearth of skilled professionals may hamper the market growth. However, improvements in the additive manufacturing process and new innovations in the field of advanced materials would offer growth opportunities in forecasted years.
Global Automated 3D Printing The market is bifurcated into component, application, and geography. The component segment is split into the material, technology, and services. The application segment is categorized as manufacturing complex parts, prototyping and tooling, and R&D and innovations.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, the Middle East, and Africa.
"Services accounted for the largest market share in the component segment", says Accurize
In the component segment,
services accounted for the largest market share, followed by technology.
Prototyping and tooling held maximum market share, while, R&D and
innovation will attain the highest rate in the application segment.
Author Signature :
Mohini Patil as a digital marketing executive