3D technology is the three-dimensional representation, modeling, printing, projection, and rendering of objects to provide in depth perception, which is closer to being real in a two-dimension plane. The global 3D technology market is anticipated to grow at a 15 % CAGR between the forecast period of 2016 and 2022.
Growing Entertainment Industry Coupled With Technology Development Are The Prime Driver Of The Market
The explosive growth of the entertainment industry especially gaming and associated technologies such as the development of microarchitecture design, growing digitization, and adoption of smart devices, employing virtual reality are the significant drivers of the market.
Technological advances such as head mounted displays, development of focus tunable displays coupled with demand for improved user experience are other factors driving the market. Development of light field cameras, which can re-focus pictures, by using a microlens array and particular light field sensor permitting multidimensional light field to be recorded, is a necessary antecedent. Eye tracking technology is a critical development which is expected to change the outlook of the sector.
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Major Key Players:
3D Systems, Inc. (U.S),
Voxel8, Inc. (U.S),
Faro Technologies, Inc. (U.S.),
HP Development Company, L.P. (U.S),
3D Hubs (Netherland),
WASP 3D (Italy),
Hexagon AB (Sweden),
Panasonic Corporation (Japan), ExOne (U.S), Sony Corporation (Japan) among others.
According to Market Research Future, the 3D Technology Market is growing rapidly over 15% of CAGR and is expected to reach at USD 145 billion by the end of forecast period.
Growing Adoption And Applications In An Array Of Industries Is Expected To Drive A Momentous Demand
The explosive adoption of virtual reality in a host of applications ranging from aerospace, defense, gaming, training, industrial, medical sector, consumer electronics and others are driving a faster growth. Demand for better user experience has led to the adoption of the technology in new generation PC especially for designing and architectural application.
The 3D images are more interactive and closer to reality, which allows for greater accurate and precise representation of the object. Growing need for precise surveying and increasing application expanse such as geography, atmospheric research, meteorology, archaeology, astronomy, geology, seismology, and forestry is the prime driver of the market. The ability to develop high-resolution maps and mapping hidden morphological structures not possible by conventional technology is the excellent advantage of 3D.
High Installation And Maintenance Cost Coupled With The Nascent Stage Of The Technology Is A Prime Restraint On The Market
The high cost of installation and maintenance, high degree of secrecy owing to the strategic nature of 3D technology hampers the development of the market.
North America led by the U.S. accounts for the largest market for 3D technology. The adoption of 3D technology as a strategic arena by the U.S. Geological Survey Experimental Advanced Airborne Research is an example of the dominance of the U.S. The European market is dominated by Germany, France, and the U.K. The applications of 3D in designing is the fastest applications expanse of 3D in Europe.
The Asia- Pacific market is led by China, Japan, and India and is expected to be the fastest growing market. The Middle East and Africa market are dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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- Technology Investors
- Healthcare Companies
- Government Organizations
- Research/Consultancy firms
- Defense Organizations
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
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