DUBLIN, February 16, 2016 /PRNewswire/ --
The global 3D printer market is set to grow rapidly at a rate of 41.5% during the period 2016-2020, according to a report published on Research and Markets. Access to 3D printing has sparked innovation and creativity, enabling the creation of customized items ranging from toys to artificial limbs. Mattel's "ThingMaker" is a prime example of this, a new $300 3D printer that allows children to design and print their own toys.
The ThingMaker has been developed in collaboration with the software developer AutoDesk. Children can create their own designs using the ThingMaker app (iOS and Android), with templates and tutorials provided to guide them through the process. These designs can then be exported to any 3D printer, regardless of make or manufacturer.
The demand for 3D printers is increasing drastically across various sectors because 3D printers are associated with benefits such as increased efficiency, reduced time-to-market, and cost-saving attributes. A recent report on the 3D printing materials market predicted growth at a rate of 18.2% during the same forecast period. It highlighted the growing awareness and market penetration of 3D printing technology in various application sectors, such as medical, automotive and consumer products, as a major driver in the market.
Now, Mattel are attempting to bring 3D printing to the mass market. This comes at a time when the global toys and games market is expected to grow at a CAGR of 5% between 2015-2019. The rise in disposable income and the growth of online sales are the primary drivers of the growth of this market. The report states that the major challenge hindering the growth of this market is the stringent government regulations that monitor the safety of toys.
According to reports, the ThingMaker will debut this fall and be priced at $300.
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SOURCE Research and Markets