NEW YORK, Sept. 7, 2016 /PRNewswire/ -- "Growing applications of 3D technology in multiple end-user industries"
The global 3D & 4D Technology market is expected to be worth USD 127.84 billion in 2016 and is expected to reach USD 314.17billion by 2022, at a CAGR of 16.17% between 2016 and 2022. The market growth of 3D & 4D Technology would be driven by crucial advancements in application areas such as automotive, consumer, construction, and healthcare industries for imaging solutions.
"Rising demand for 3D technology in the entertainment industry contributes to the growth of 3D & 4D technology market"
As a recreational activity majority of the population opts for realistic movies with 3D motion pictures and interactive effects nowadays. With the recent developments in 3D animation and an upsurge in computer-based graphics, 3D is the standard technology used for special effects. 3D animation in movies is overtaking many approaches such as physical effects in movies and hand-drawn animation. In all these regards, it is 3D which is now seen as the future of graphic content for broadcasting.
"The 3D technology market in Asia-Pacific to grow at high rates"
APAC is the fastest-growing market for 3D technology and it holds a tremendous market potential for 3D applications in the near future. Major countries which have a huge potential for 3D technology applications in the APAC region are developing economies such as India and China. Another major market for the 3D technology in the APAC region is Japan. Some of the major drivers, which are responsible for spurring demand of 3D technology in APAC include rising income levels, lifestyle changes, and need for faster manufacturing technology.
In the process of determining and verifying the market size for several segments and sub-segments gathered through the secondary research, extensive primary interviews have been conducted with people holding key positions across regions.
The breakup of profile of primary participants is given below:
- By Company Type: Tier 1 – 30 %, Tier 2 – 50% and Tier 3 – 20%
- By Designation: C level – 40%, Director level – 25%, Others – 35%
- By Region: North America – 39%, Europe – 31%, APAC – 17%, RoW – 13%
"Growing advancements in the 4D technology and high research initiatives in developing 4D printing for commercial use is expected to create newer applications"
The 4D printing technology is an advanced technique of 3D printing in which the material used for printing can be programmed to change its shape and to morph according to the external environment. The development of 4D technology in terms of the various products and services is expected to be a game changer in the 3D and 4D technology markets. One of the major applications of the 4D technology is in the entertainment industry; more specifically in the 4D theaters.
The development of the technology is a capital-intensive process, 4D printing technology is attracting funding from various universities because of its potential benefits to manufacturing. There is growing awareness about 'time' dimension to 3D printing and the concept is discussed in universities such as Birmingham, Bristol, Durham, Edinburgh, Napier, Leeds, Warwick, and York. Furthermore, the U.S. Army Research Office awarded USD 855,000 to researchers at Harvard's School of Engineering & Applied Science, the University of Illinois, and the University Of Pittsburgh Swanson School Of Engineering.
Some of the potential key 3D & 4D Technology manufacturing companies profiled in the report are as follows:
- Faro Technologies, Inc. (U.S.),
- Autodesk, Inc. (U.S.)
- Dassault Systems S.A (France)
- 3D Systems Corporation (U.S.)
- Stratasys Ltd. (U.S.),
- Google Inc. (U.S.)
- Samsung Electronics (South Korea)
The report will help the leading players/new entrants in this market in the following ways:
- This report segments the 3D & 4D Technology market comprehensively and provides the closest estimation of the overall size of the market and its sub-segments across different technology, end-users, applications and regions.
- The report would help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders better understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes competitors' ecosystem, new product developments, funding, and partnerships.
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