Asia Pacific forecast to be fastest growing market for 3D technology through to 2020

Allied Market Research has launched an analysis on the global 3D technology market covering all aspects of 3D, from hardware such as printers and cameras, to applied usage in industries such as entertainment, healthcare, and aerospace, and software including 3D scanning, 3D modelling, and 3D animation. 

Source: 3D Systems. 3D-printed candy from the ChefJet.

The study observed that the global 3D technology market was valued at US$46 billion in 2013, and is estimated to reach US$175.1 billion by the end of 2020. Higher levels of accuracy, lower piracy risks, easier reverse engineering, and better communications platforms all contribute to the CAGR of 21% from 2013-2020. 

Entertainment remained the largest application segment in 2013, accounting for 39% of the pie and a projected CAGR of 22.3% from 2013 to 2020, followed by healthcare. 3D printing applications are expected to exhibit the fastest growth during the forecast period, and will account for 5.3% of 3D technology market revenue in 2020, said the research firm.

Source: Stratasys. Bike seats 3D printed in the same session by the Objet500 Connex3.

North America will continue to lead in revenue generation, mainly due to access to better infrastructure and adoption of advanced technology by end users, but the fastest growing market is projected to be the Asia Pacific region during the analysis period.