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Automotive sector a key early adaptor of 3D printing technology

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Global 3D Printing Market Opportunity Analysis - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-21 14:27:01
3D printing technology is considered to be one of the fastest growing technologies with numerous uses and applications for 3D printers and services across different application sectors. It has revolutionized various industries such as medical, aerospace, consumer products and automotive. This technology facilitates the printing of products of finest quality with highest accuracy by building the prototype in a layer-by-layer manner.While this technology is currently used for prototyping and basic product design, customization will emerge as the synonymous term for this technology in the near future. This market is expected to witness approximately 20-25% annual revenue growth in future, largely driven by automotive, healthcare, aerospace and consumer markets.With respect to the opportunity for 3D printing technology in different application sectors, it is observed that automotive and aerospace hold the highest share followed by healthcare and consumer sectors. Automotive sector was one of the early adopters of 3D printing technology, using it to make prototypes and other experimental parts and for small-scale production runs.

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