NEW YORK, May 31, 2018 – According to the market research report published by P&S Market Research, global 3D printing market is expected to reach $31,863. 7 million by 2023, the key benefits associated with 3D printing, such as cost efficiency, single-step manufacturing process, and the ease of developing customized products, are expected to increase the adoption of 3D printing technology, globally, in the coming years. Among all these categories, printers held the largest market share in the 3D printing market in 2017, where it accounted for over 45% of sales globally. Of them, prototyping held the largest revenue share of nearly 24% in 3D printing market in 2017, as industries like aerospace and defense as well as automotive adopted 3D printing for developing prototypes. During the forecast period, the 3D printing market is expected to grow fastest in APAC, exhibiting a 27.8% CAGR. Government initiatives and investments in research and development to innovate methods and applications of 3D printing are the major factors supporting the growth of the 3D printing market in APAC. The growing ease of developing customized products is driving the 3D printing market. The 3D printing market is fragmented because of the presence of a large number of players offering 3D printing systems and materials for various applications. P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe.
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