Deerfield Beach, FL -- (SBWIRE) -- 09/02/2015 -- Global 3D Printing Market to grow at a CAGR of 45% over the period 2014-2019. 3D printing, also known as additive manufacturing is the process of making a 3D model, using digital data by manufacturing (printing) it layer by layer, using a 3D printing material. It aids all industries by enabling the manufacture of customized products at a mass level, without incurring extra costs and other environmental impacts. During the advent of this technology, these models were restricted to prototyping purposes but in recent times 3D printing technology has made a paradigm shift towards conventional product manufacturing in industries extending from Aerospace to Consumer Products. Currently, many business firms are adopting 3D printing technology in various applications to get more accuracy, optimum usage of raw materials, while exhibiting customized manufacturing.
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Many vendors are relying on mergers and acquisitions in order to expand product offerings and gain a stronger foothold in the market. This kind of growth strategy has shaped the current market, and will continue to be a significant trend over the projected period.
"Prominent enterprises like 3D Systems have been pursuing an aggressive inorganic growth strategy through acquisitions. The company acquired Village Plastics and Figulo in 2013 and Belgian Metal 3D Printing Service Company in 2014,".
The key vendors in the 3D Printing Market are also investing progressively in R&D so as to provide better functionality and more innovative products. These investments have helped them capture a significant market share and gain a competitive edge over competitors.
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Covered in this Report
The Global 3D Printing Market can be segmented into three divisions: Services, Printers and Materials. The report covers Global 3D Printing Market landscape and its growth prospects in the coming years. The report also covers information about the market segmentation by end users and geography.
Global 3D Printing Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market.
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"Key vendors in the market like Stratasys, 3D Systems and Arcam have invested huge amounts in R&D for the expansion of their product portfolio. "Burgeoning alliances, consolidations and such a strong emphasis on R&D will help the market thrive during the forecast period."