3D Technology Market Expected to Surpass $707.4 Billion

New York, United States, 06 July. 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “3D technology market Analysis by Product Type (3D Camera, 3D Scanner, 3D Printer, 3D Image Design, 3D Display Technology), by Application (Healthcare, Media & Entertainment, Government, Aerospace & Defense, Manufacturing, Architectural and Others) – The 2030 forecast assessment is ready to reach USD 707.4 billion by 2030, registering a CAGR of 16.3% throughout the forecast period (2021-2030).

3D technology market overview

3D technology uses the three-dimensional image to provide insight into the depth and reality of an image. Images displayed using 3D technology are developed to look interactive and natural and allow the user to engage with the scene and make it appear to be real. The concept of these images in the 3D technology industry is a complete process of rendering, tessellation and geometry.

Scope of 3D Technology Market Report:

Report metric Details
Market size $707.4 billion by 2030
CAGR 16.3% From 2021 to 2030
Year of reference 2020
Forecast period 2021 to 2030
Historical data 2019
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered Product type, application and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Main suppliers Hexagon AB (Sweden), WASP 3D (Italy), ExOne (USA), 3D Systems, Inc. (USA), Faro Technologies, Inc. (USA), HP Development Company, LP (USA ), Panasonic Corporation (Japan), Hubs 3D (Netherlands), Voxel8, Inc. (USA), Sony Corporation (Japan)
Key market opportunities The advantageous features of 3D technology provide many opportunities for growth in the 3D technology market.
Key Market Drivers Growing applications in healthcare, automotive, consumer electronics and military, industrial, aerospace and defense are driving growth

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Covered USP market

Market factors

The global 3D technology market has witnessed a huge increase in the growth rate over the past few years. The growth of the market is mainly attributed to the growth in the deployment of 3D technology not only in games but also in other areas. Its use has spread from gambling to corporate representation, personal entertainment and product design, which is likely to cause an increase in demand in the market. The increasing adoption of technology is proving brilliant for architectural design and application. Furthermore, factors such as advantageous features of 3D technology, constant innovations and cheap rates are also expected to drive the growth of the 3D technology market over the forecast period.

Market constraints

Although several aspects are driving the growth of the 3D technology market, there are some parameters that are limiting the market growth. Factors such as complex operations and lack of awareness of 3D technology are likely to limit the market growth over the forecast period.

3D technology market segments

Among all, the 3D imaging solutions segment is expected to account for the largest share of the global 3D technology market during the assessment period. The main aspect driving an acceleration in the growth of the segment is the increasing consumption of 3D imaging solutions in several consumer electronics products, such as televisions, cameras, and smartphones. Furthermore, growth in demand for innovative consumer electronics, automobiles, and smartphones is another crucial parameter that is expected to drive the growth of the segment over the assessment period.

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Among all application areas, 3D games segment dominated the global 3D technology market in 2019. 3D games add an exciting element of reality to the video game experience. The segment’s growth is primarily attributed to people choosing to gamble over other forms of entertainment. Moreover, the ease of access to high-speed internet and increasing penetration are also likely to drive the growth of the 3D games market over the assessment period.

Among all end-user segments, military and defense segments are expected to witness the fastest growth rate during the forecast period. The growth of the segment is mainly attributed to the growing demand for head-mounted displays to track opponent’s actions and detect their exact location. In addition, navigation and metrology solutions based on 3D technology properly guide the forces during their journey.

3D Technology Market Regional Analysis

The 3D technology market is analyzed across five major regions: Asia-Pacific, Europe, North America, Latin America, and Middle East & Africa.

According to Market Research Future (MRFR) analysis reports, the North American region will rank first in the global 3D technology market during the assessment period. The growth of the regional market is mainly attributed to the growing investments in various verticals such as media and entertainment, medical fields, forensic laboratories, architecture and defense.

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The 3D technology market for the European region is expected to register substantial growth over the forecasted period. The fact that startups and large enterprises are realizing the benefits of the technology and investing heavily in it is the major aspect that is causing an upsurge in the growth of the regional 3D technology market.

The Asia-Pacific regional 3D technology market is expected to grow rapidly over the forecasted period. The growth of the regional market is mainly attributed to the growing investments of major players in the healthcare sector in the region.

Impact of COVID-19

The global COVID19 pandemic has had a massive impact on the majority of market sectors across the globe. The global health crisis has affected the global economy and extremely reduced the rate of economic growth. The health and financial disaster resulting from the pandemic is upsetting the whole world. Companies and the labor sector became unable to carry out their daily activities and had to face significant financial losses. During the pandemic, production units and industrial activities were confined to the performance of regular functions, which severely disrupted the entire supply chain. The imposition of partial or full lockdowns in several parts of the world has presented market participants with unexpected challenges. On the other hand, the market suffered from these severe circumstances and was able to maintain a steady pace of growth. During the pandemic period, people all over the world have switched to using advanced technologies and have embraced 3D technology to have a better experience, which has caused an increase in demand in the market.

The expansion of gaming technology to other sectors is driving global market demand. Adoption of 3D technology in automotive, healthcare, and aviation industries is expected to catalyze market growth over the coming years.

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3D Technology Market Competitive Analysis

The Dominant Key Players in the 3D Technology Market Covered Are:

  • Hexagon AB (Sweden)
  • WASP 3D (Italy)
  • ExOne (USA)
  • 3D Systems Inc. (USA)
  • Faro Technologies Inc. (USA)
  • HP Development Company
  • LP (USA)
  • Panasonic Corporation (Japan)
  • 3D Hubs (Netherlands)
  • Voxel8 Inc. (USA)
  • Sony Corporation (Japan)

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