Global 3D Printing Market – Analysis and Forecast To 2024, Stratasys Ltd., 3D Systems Corporation

3D printing is a manufacturing process that helps in building multiple layers for a three-dimensional object from a digital specimen. A few years ago, the cost of using 3D printing technology was very high and it was used by large corporations and organizations, however with the advent of desktop-based 3D printers the technology is becoming more accessible in small and medium enterprises and home users as well.

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Challenges
The high costs of materials and restraint pertaining to the size of the product are the major factors that are hampering the growth of 3D printing market across the globe. Moreover, lack of acceptance of such technology and limited designing tools offered by 3D printing technology is the major restraint observed for the growth of global 3D printing market.

Geographic Overview
Geographically, North America is the largest 3D printing market in since the region is constantly revamping their technology and increasingly using 3D printing technology in healthcare and aerospace and defense domain. Furthermore, increasing demand for customized products by the customers and need for reducing operational costs by several business organizations is driving the demand for 3D printing in this region.

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Competitive Insight
Key players in the 3D printing market are investing heavily towards improvising the quality of product and developing the latest technologies that is further strengthening their position in the market. Moreover, local vendors are developing new products to develop cost efficiencies in their business processes thereby extending the rivalry in the market to certain. Some of the major players in the 3D printing market include Materialise NV, Stratasys Ltd., 3D Systems Corporation, Envisiontec GmbH, The Exone Company, Sciaky Inc., Voxeljet AG, SLM Solutions Group AG., Proto Labs, Arcam Group and Mcor Technologies Ltd.

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