The global 3D technology is set to evolve at a CAGR of 15% during the forecast period from 2016 to 2022. The market is also anticipated to gain a valuation of USD 145 Billion as it is gaining prominence in recent time, due to some of the leading factors from the information and communication technology industry.
The 3D technology is considered as a three-dimensional image that portrays an in-depth perception of an image with the help of the process of tessellation, geometry, and rendering. The invention of 3D technology has made a revolutionary change from gaming to many other fields. The usage of 3D technology has also expanded from product design, corporate presentation, and personal entertainment.
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Market Drivers & Trends
The 3D technology is gaining traction that is motivating the 3D technology market to expand rapidly on a global level. In the present time, 3D technology is getting installed widely in new generation PC makers for designing and architectural applications. Thus, the expanding host of applications and beneficiaries is assisting the market to boom in the coming years.
3D technology is experiencing a frequent technological implementation as well as updates in process owing to which a rapid transformation in image presentation is taking place, which is enabling the market to experience explosive growth over the years. The gaming world is the fastest segment that is introducing the latest applications of 3D technology such as the development of microarchitecture design, digitization, and adoption of smart devices, employing virtual reality. These are posing as the significant drivers of the global 3D technology market in the current time and is anticipated to gain more traction and valuation during the assessment period.
In addition, technological advances such as head-mounted displays, development of focus tunable displays coupled with amplified demand for improved user experience are yet another promising factors driving the market.
The segmentation of global 3D technology has been done on product and applications.
In terms of product: It includes the 3D camera, 3D glass, 3D printer, 3D scanner, 3D image designing, and 3D display technology. The segment of the 3D camera has attained the maximum traction as it is widely used in animation movies and advertisements. Through a 3D image, the real image is seen as most of the features is shot using stereo 4K mode. On the other hand, the 3D scanner eliminates the need for the physical collection of data as it displays every detail of the site. 3D glasses are used widely in the entertainment industry, which benefits both consumers and producers and possesses low cost of manufacturing as well.
In terms of application: It includes the architecture industry. 3D technology also has numerous advantages in the healthcare industry, automotive, aerospace, and defense. In the healthcare industry, it is used for succeeding complex surgeries, customized implants, and prosthetics, medical models, medical devices, and revolutionize the whole traditional medical treatment method.
Detained Regional Outlook
Region-specific analysis of the global 3D Technology Market Size covers North America, Europe, Asia, and Rest of the World (ROW).
Among these, North America commands a considerable market share for 3D technology. The adoption of 3D technology in the U.S. is the prime factor behind its market expansion. The strategic arena by the U.S. Geological Survey Experimental Advanced Airborne Research is an example of the leadership of 3D technology in the U.S.
The European market of 3D technology is also booming at a higher rate mainly in the countries like Germany, France, and the U.K. It is due to the applications of 3D in designing has recorded the fastest applications expansion of 3D in this region.
Whereas, the Asia- Pacific market for 3D technology is led by prime countries such as China, Japan, and India, where it is anticipated to be the fastest-growing market. In the end, the Middle East and Africa market are leading with the support of Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
The list of prominent vendors who are continuously operating in the 3D technology market is named as 3D Systems, Inc. (U.S), 3D Hubs (Netherland), WASP 3D (Italy), Voxel8, Inc. (U.S), Faro Technologies, Inc. (U.S.), Hexagon AB (Sweden), HP Development Company, L.P. (U.S), Panasonic Corporation (Japan), ExOne (U.S), Sony Corporation (Japan) and others.
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