However, desktop 3D printing is likely to hold a promising future owing to the growing popularity of the
technology among hobbyists, innovators, and the education sector for technical training and
domestic/personal uses. The technology is expected to be highly touted for its economic advantages rather
than being perceived as a labor-intensive industrial manufacturing technique. Local shops that install 3D
printers and offer 3D printing materials, filaments, 3D modeling, and 3D printer software have become an
alternative business model, especially in developing economies such as Brazil, South Africa, and India.
The market is fragmented into three major application areas, namely prototyping, tooling, and functional part
manufacturing. Apart from the industrial vertical, the automotive, healthcare, and aerospace & defense
verticals are the strong adopters of the technology. Manufacturers in these verticals emphasize on the
accuracy of operations, enhancement in product designing, and reliability offered by the parts, coupled with
the time required for the product to arrive the market and expenditures involved in the production. Benefits
offered by the technology are expected to lead to increased applications in these industry verticals in future as
well. Moreover, factors such as intensive R&D along with heavy investments carried out by the public and
private sectors are expected to result in numerous advancements in 3D printers and related technologies,
owing to active government funding and initiatives carried out by developed economies.
North America held majority of the market share in 2016, accounting for more than 35.0%. The large market
share is attributed to the extensive adoption of 3D printers for 3D designing, 3D modeling, and 3D
manufacturing of objects in several sectors. The Asia Pacific region has significantly emerged as a large
manufacturing hub on account of the presence of a huge consumer base and surplus foreign investments in
the region, thereby portraying a remarkable growth over the estimated duration.
3D printing is a capital-intensive technology and bears a few disadvantages, such as misconceptions among
manufacturers about prototyping. Furthermore, the market currently lacks standard process controls and
skilled workforce. These factors currently hamper the market growth; however, they are anticipated to be
overcome over time owing to increasing government initiatives and growing awareness among individuals
regarding the benefits of 3D printers.
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Further key findings from the report suggest:
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3D printing is gaining interest among individuals owing to benefits such as accurate and rapid
prototyping along with the optimized time-to-market factors.
The increasing application of 3D printers in automotive, healthcare, and aerospace & defense verticals
are also expected to significantly drive market growth over the forecast period.
Desktop printers are expected to gain noticeable attention over the forecast period on account of
increasing popularity among researchers, hobbyists,