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Cold Chain Market Size, Share, Trends, Demand and Opportunities by 2023
Global cold chain market is expected to grow at a CAGR of 12.1% during 2016-2022. Among the various applications, the fish, meat & seafood segment accounted for largest share in the global cold chain market. The dairy & frozen desserts application segment is expected to witness the fastest growth during the forecast period.
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The global cold chain market is expected to witness a lucrative growth during the next six years. The global refrigerated warehouse capacity has increased by 28% in 2015, as compared to the total refrigerated warehouse capacity in 2012. India (139 million cubic meters) surpassed the cold chain capacity of the U.S. (119 million cubic meters) in 2014, and became the largest cold chain market by capacity. China (82 million cubic meters) was the third largest cold chain market by capacity.
The markets as well as the upstream and downstream cold chain management in these regions are mostly unorganized. The food and beverages industry in the developing market suffer largely by the fragmented supply chains, low level of value addition, low economies of scale, and insufficiency of marketing infrastructure. This is hindering the full flooded growth of the cold chain market in developing countries.
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Some of the major companies operating in the global cold chain market include, Americold Logistics LLC, Burris Logistics, Nichirei Logistics Group Inc., Agro Merchants Group, Kloosterboer Group B.V., Preferred Freezer Services, Lineage Logistics Holdings LLC, Swire Cold Storage Ltd., Cloverleaf Cold Storage, and Henningsen Cold Storage Company.
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Industrial Refrigeration Systems Market Revenue, Trends, Demand and Growth Drivers by 2023
The global industrial refrigeration systems market is likely to grow from $25.7 billion in 2016, to reach 1.5 folds between 2016 and 2023. The increasing demand for cold chain has been necessitating the need for industrial refrigeration globally.
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Based on our analysis, evaporator unit has been the largest industrial refrigeration systems market globally, accounting for 52.1% of the revenues in 2016. The market for industrial racks is expected to witness fastest growth during the forecast period, compared to other types of industrial refrigeration system.
In the food & beverage industry, industrial refrigeration is required in processing, storing and delivering of meat & poultry, production and storage of milk products, seafood cooling, and fermentation, and germination of the beverages. As meat and poultry production continue to increase, to meet the growing global demand, refrigeration and temperature control are vital aspects throughout the entire food and beverage delivery process.
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Some of the major players in the global industrial refrigeration systems market include Johnson Controls GEA Group, Industrial Frigo, Emerson Electric, Bitzer, Danfoss, United Technologies Corporation, Star Refrigeration, Hussmann Corporation, and Dover Corporation.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Consumer Drones Market Analysis With Future Trends and Growth Drivers by 2023
The global consumer drones market is expected to grow at a CAGR of 28.1% by 2022. Among the various types, the multi-rotor segment held the largest share in the global consumer drones market.
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The global consumer drones market is being driven by the increasing consumer interest in drone technology and its surging applications. The other factors driving the growth of the market include increasing demand for compact drones and increasing utility of drones embedded with augmented and virtual reality tools. The key opportunities witnessed in the global consumer drones market include growing demand for compact drones, increasing demand for consumer drones with virtual and augmented reality and growing eminence of racing drones.The demand for compact drones has been observed to increase in the recent past. The pocket drones and three-rotor aerial vehicle folds up to fit in a backpack.
Despite being small in size, its three independent propeller motors are powerful enough to carry a GoPro camera. These small easily portable flying robot goes everywhere with the pilot to capture overhead imagery on demand.AirDroids have been emerging, as one of the prominent vendors for compact consumer drones. The compact drone manufactured by the company is known as Pocket Drone, which an inexpensive flying machine meant to give people of all stripes a different perspective. Pocket Drone is also the world’s first multicopter.
This drone is powerful and carries a high quality action camera and folds up smaller than a tablet.The demand for virtual reality (VR) and augmented reality (AR) is expected to increase at the consumer and organizational levels respectively. The consumer drones offer virtual reality applications embedded within them and provide advanced features with the help of that application.
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The key companies operating in the global consumer drones market include DJI Innovations, Parrot SA, 3D Robotics, Shenzhen Hubsan Intelligent Co. Ltd., Blade LLC, JJRC Toy Co. Ltd., Syma Toys Industrial Co. Ltd., Walkera Technology Co. Ltd, Guangdong Cheerson, Hobby Technology Company Limited and Hobbico Inc.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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E-Cigarette Market Size, Share, Key Players and Drivers by 2023
Global e-cigarette market is forecasted to attain a value of $70 billion by 2023, The growth in the market will be led by factors such as increasing demand for smokeless and ashless vaping and surge in the number of vape shops and designated stores.
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The e-cigarette market can be broadly categorized into cig-a-like, vaporizer, vape mods and t-vapor product types. The market for t-vapor is projected to witness the fastest growth, of around 45%, during the forecast period. T-vapor is comparatively a new category that uses real tobacco. T-vapor products are sold in two versions: heat-not-burn and infused. Cig-a-like can further be categorized into disposable and rechargeable types, while vaporizer can be segmented into open tank and closed system types.
The major channels of distribution are vape shops, supermarkets, online, and tobacconists. Among these channels, vape shops are estimated to generate the highest revenue for the e-cigarette market in 2017.Asia-Pacific is the region offering ample growth opportunities for the vendors. Large population coupled with increasing urbanization has been propelling the demand in the region. China has been the forerunner in the regional e-cigarette industry, with an estimated 40.3% share in 2017.
After the U.S. and the U.K., China is estimated to be the third largest e-cigarette market globally in 2017, which is further expected to grow during the forecast period.On the basis of a survey conducted by the Chinese Center for Disease Control and Prevention in 2014, 45% of students aged 13–15 years had heard of e-cigarettes and 1.2% had used them in the preceding 30 days. It has been observed that for every 1% consumer shift from combustible cigarettes to its less harmful counterpart, the market for latter in the country increases by almost $5 billion.
Advertisement campaigns have been educating the consumers about the benefits of switching from combustible cigarettes to its less harmful alternative, consequently driving the e-cigarette market in the country.The e-cigarette market is fragmented, and the top three players are estimated to account for over 60% of the total market share.
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Some of the major players in global wireless portable medical device market include, Renesas Electronics Corporation Texas Instruments, Omron Healthcare, Renesas Electronics Corporation, GE Healthcare, STMicroelectronics N.V., Maxim Integrated, ON Semiconductor Corporation, Medtronic, Inc., Freescale Semiconductor Inc., and Analog Devices Inc.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Smartwatch Market Regional Outlook With Detailed Analysis Forecast to 2023
The smartwatch market is expected to reach $43.8 billion by 2023, registering a CAGR of 22.7% during the forecast period. The market has been thriving in the mobile technology space, which can be attributed to the increasing awareness on personal health and fitness and the rise in smartwatch-controlled automotive capabilities.
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The smartwatch market is categorized into three types: extension, classic, and standalone; of which the standalone category is projected to witness highest growth during the forecast period.Apple’s watch software watchOS has grown by leaps and bounds since its introduction and left many smartwatch OS behind with its competency in innovation.
Due to this, the iOS category has been contributing the highest revenue in smartwatch market since 2015 and is predicted to maintain its strong hold during the forecast period as well. Moreover, high sales of Apple smartwatches have fueled the overall market growth on the back of brand popularity and presence of other rudimentary devices with incompetent features.During the forecast period, smartwatches based on another OS, such as Tizen and proprietary OS, are expected to grow the fastest.
In the recent past, other types of smartwatch OS, such as Samsung’s Tizen, have taken over Google’s Android Wear, which has restructured the global smartwatch market. Besides, massive sales of Samsung Gear S3 have escalated the company’s interest in investing more in the development of smarter standalone smartwatches, which clearly asserts a strong growth of this market in the near future.
Geographically, North America, being a key target region for prominent companies (like Apple and Samsung) for the introduction and sale of their products, is a higher revenue generator than any other region in the world. Brand loyalty and consumer status in North America have largely helped companies in cashing in consumer behavior and interest toward the adoption of smartwatches.
One of the major opportunities for the growth of smartwatch market lies in the design and development of gender-specific smartwatches by market players. Many women, particularly from the sports and corporate domains, have shown great interest in the adoption of a smartwatch as a replacement to their traditional watch, in the recent past. However, unisex offerings by companies often feature male-oriented designs, making them less popular among women.
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Some of the key players operating in this market are Apple Inc., Garmin Ltd., Fitbit Inc., Sony Corporation, Samsung Electronics Co. Ltd., Lenovo Group Limited, TomTom International BV, ASUSTeK Computer Inc., LG Electronics and Alphabet Inc.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Structured Cabling Market Revenue, Trends, Demand and Opportunities by 2023
Global structured cabling market is expected to reach $10.68 billion by 2023. The rising number of data centers and the ever-increasing demand for technologies such as Wi-Fi, cloud computing, and IoT are pushing the need for standardized cabling solutions, such as structured cabling. Besides, the increasing need to cut down operational costs is fueling the demand for power-efficient cabling solutions.
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Based on product type, the structured cabling market is categorized into copper cable, fiber cable, copper components, and fiber components. Of these, copper cable was the largest revenue contributor to the market in 2017. Copper cables commonly used in structured cabling include unshielded twisted pair (UTP), shielded twisted pair (STP), and foil-screened twisted pair (FTP). During the forecast period, the market for fiber cable and components is expected to grow at a faster pace, as compared to that for their copper counterparts. Growing demand for increased bandwidth, low attenuation, high security, and reliable networks is expected to drive the demand for fiber cable and components for structured cabling systems in the coming years.
Developing countries of Asia-Pacific (APAC), Latin America, and Africa are creating ample growth opportunities for the players in the structured cabling market. The increasing number of data centers and the growing demand for high-speed internet networks have been spurring the market growth in these regions. Hence, countries such as China, India, and Brazil are expected to play a pivotal role in the growth of the global structured cabling market in the coming years.
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Some of the key players in the structured cabling market are CommScope, Corning Inc., Panduit Corp., ABB Ltd., Schneider Electric, Nexans, Belden and Furukawa Electric.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Stepper Motor Market Detailed Analysis With Outlook Forecast Period Forecast to 2023
The global stepper motor market was valued at $1.9 billion in 2017 and is forecasted to witness a CAGR of 4.6% during 2018–2023 and is expected to reach $2,556.3 million by 2023. Major factors propelling the growth of the market are increasing mechanization, technological advancements, and growing demand for miniature motors. Moreover, the less cost of stepper motors, as compared to servo motors, is another major factor supporting their adoption, especially in developing countries.
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On the basis of end-use, the stepper motor market has been categorized into industrial machinery, medical equipment, packaging and labeling machinery, semiconductors, and others. Among these categories, industrial machinery contributed the largest share, of 37.2%, to the market in 2017.Increasing use of these motors in medical equipment is expected to drive the market growth in the long run. The stepper motor market for this category was valued at $357.4 million in 2017 and is expected to register the fastest CAGR, of 6.7%, during the forecast period.
In recent years, the stepper motor market has witnessed a high demand for steppers for the manufacturing of X-ray machines, IV pumps and blood analyzers. In the healthcare industry, oxygen concentrators use these motors in fans for cooling. The compact size and low noise of these motors make them a preferred choice for medical applications.The motion control system market has become highly competitive owing to the increasing penetration of servo motors. The advent of the input/output (I/O) terminal, which is used as an amplifier for small stepper motors, has significantly contributed to the growth of the market for small-sized stepper motors.
The integration of the I/O terminal offers operational advantages, such as reduced electrical cabinet space, reduced cost, and ease of use in applications with space constraints.
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Some of the major companies operating in the global stepper motor market are Nippon Pulse Motor Co. Ltd., Schneider Electric SE, ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., SANYO DENKI Co. Ltd., National Instruments Corporation, Nidec Motor Corporation and Oriental Motor Co. Ltd.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Commercial Refrigeration Equipment Market Revenue, Trends and Demand by 2023
The global commercial refrigeration equipment market is projected to reach $59,071.4 million by 2023, growing at a CAGR of 6.2% forecast to 2023. the rapid urbanization along with the expansion of supermarkets, hypermarkets, and food retail chains in the developing countries, such as India, China, and Brazil, is expected to increase the demand of commercial refrigeration equipment during the forecast period.
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The market in Europe is heading towards maturity; however, the short product life cycle of the refrigeration equipment in developed regions along with the increasing floor area of hypermarkets and supermarkets and restaurants chains, the market for commercial refrigeration equipment is expected to witness considerable growth in the coming years.The commercial refrigeration equipment market is highly fragmented and most often, the end-users need custom based design specifications, to fulfill their requirement.
Major manufacturers of commercial refrigeration equipment sell their product as package solutions directly to bulk buyers, such as supermarket and hypermarket retailers. This consists of about 65% to 75% of the commercial refrigeration equipment market. Approximately 20% to 25% of the commercial refrigeration equipment market is covered through independent wholesalers, and remaining 5% to 10% is distributed through the food service equipment providers, such as catering equipment distributers.The study reveals that among the various equipment types, walk-in coolers has been leading the commercial refrigeration equipment revenues.
Geographically, Asia-Pacific has been the largest as well as fastest growing commercial refrigeration equipment market. Unlike its western countries, the HFCs refrigerant regulation is not so stiff in developing countries of Asia-Pacific. In VI BRICS summit of 2014, all the five members agreed over India’s proposal of not accepting the Montreal Protocol for HFCs, unless other cost-effective alternatives technologies are provided by the developed countries to them. Until that, the HFCs regulation would be regulated with existing Kyoto Protocol.
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Some of the major players in the market include United Technologies Corporation, Johnson Controls, Daikin Industries, Dover Corporation, Hussmann Corporation, AB Electrolux, Frigoglass S.A.I.C., AHT Cooling Systems GmbH, Ali Group S.p.A. and Illinois Tool Works Inc.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Personal Robots Market Analysis With Size, Share and Growth Opportunities Forecast to 2023
The personal robots market is expected to cross $34.0 billion by 2022, growing at a CAGR of 37.8% between 2016-2022. The key drivers witnessed in the market include aging population and slow birth rate in developed countries, declining prices of personal robots, and increasing demand for mobile robots.
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The various types of personal robots include cleaning robots, entertainment and toy robots, education robots, companion robots, handicap assistance robots, personal transportation robots, security robots, and other robots. Cleaning robots are the most commonly used robots in households, as they assist in daily chores to make their owner’s life easier.
Asia-Pacific is expected to become the largest personal robots market by 2022, surpassing Europe and North America. The Asia-Pacific personal robots industry is expected to reach $10.9 billion by 2022.
The robot is designed after the average Japanese women. Apart from modeling the designed cloths on runways, it can also perform jobs such as that of tour guides. Saya, an education robot developed in Japan, is capable of teaching primary grade students. Saya is capable of exhibiting several emotions and speaking multiple languages.
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Some of the key players in the global market include Honda Motor Co. Ltd., Sony Corporation, Samsung Electronics Co. Ltd., F&P Robotics AG, ZMP Inc., Segway Inc., Neato Robotics Inc., Ecovacs Robotics Inc., Hasbro Inc., and iRobot Corporation.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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3D Camera Market Outlook With Trends and Growth Drivers Forecast to 2023
The global 3D camera market is expected to witness a CAGR of 50.2% during the period 2016-2022, registering revenue of $19,893.0 million by 2022. The application of 3D camera in professional cameras’ has dominated the application segment of 3D camera market, with 66% share in the global market in 2015.
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The dominance of free cameras would continue throughout the forecast period and would reach to a market value of $13,465.6 million by 2022, growing at CAGR of 49.6% during the forecast period.Based on the applications, the 3D camera market is bifurcated into professional cameras, smartphones, tablets, computer and others. Other applications includes mobile robots and home automation equipment. Professional cameras accounted for higher revenue share in 2015, however the maximum growth is expected to be witnessed in tablet segment during the forecast period.
The 3D camera market is segregated into North America, Europe, APAC (Asia Pacific), and LAMEA (Latin America, Middle East & Africa), based on the geographies. The market for 3D camera was dominated by North American region, however, it is estimated that Asia-Pacific would show its dominance from 2015 onwards, attaining a market value of $8,223.9 million in 2022.
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Sony Corporation, Nikon Corporation, GoPro Inc., Samsung Electronics Co. Ltd., Canon Inc., Panasonic Corporation, LG Electronics Faro Technologies Inc., Eastman Kodak Company and Fujifilm Holdings Corporation are the major companies highlighted in this report. Product launch and collaboration are the two key strategies the major players are adopting to penetrate the major market.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Power Electronics Market Size, Share, Growth Drivers and Major Players Analysis by 2022
The global power electronics market is likely to grow from $12.9 billion in 2015 to $20.0 billion by 2022. Power electronics is used in various industries such as automotive, power & energy, ICT, consumer electronics, and aerospace & defense; however, among these industries, the largest user of power electronics is consumer electronics industry.
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As per the research findings, among the various devices, power discrete has been the largest market. The power modules segment is expected to witness fastest growth in demand during the forecast period. Among the various end-users, the global power electronics market has been generating maximum revenue through the consumer electronics segment.Geographically, Asia-Pacific has been the largest revenue contributor to the global power electronics market. China has been the largest market in Asia-Pacific, while the U.S. led the North American market.
Germany has been the major European market, whereas U.A.E. stood as the largest market in Rest of the World.Power density is a prime factor in the PE industry, particularly in high-power applications. For instance, PE devices in electric rail traction drives, wind power generators, inverter systems, and solar power generators use PE devices to increase their operational efficiency.
Vendors in the market are investing in R&D to develop devices that work at higher power density levels.PE devices have several advantages, such as less driving power, simplified circuits and optimum forward and reverse blocking capabilities, which can enable them to work in higher power densities.
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Furthermore, compact PE device designs are the ideal choices for usage in high power densities. Thus, the escalation in demand for higher power density in numerous high-power applications is one of the drivers for the growth of the global market.Some of the key players in the global market include NXP Semiconductors N.V., Infineon Technologies AG, STMicroelectronics N.V., ON Semiconductor, Vishay Intertechnology Inc., Microsemi Corporation, Toshiba Corporation, Texas Instrumentation Inc. and ABB Ltd.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Machine Condition Monitoring Equipment Market Analysis With Drivers and Demand by 2023
Machine condition monitoring equipment market is expected to reach $3.2 billion by 2023 and is forecasted to witness a CAGR of 6.8% during the forecast period. The growth in the market can be attributed to the increasing use of wireless technology, rising popularity of remote monitoring, along with growing HVAC market.
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On the basis of monitoring type, the machine condition monitoring equipment market is categorized into vibration monitoring, ultrasound emission, thermography, lubricating oil analysis, corrosion monitoring, and motor current signature analysis. Vibration monitoring category held the largest market share, owing to the increasing need for vibration monitoring equipment in critical applications such as, manufacturing and chemical industries that are highly prone to defects.
The machine condition monitoring equipment hardware market is further split into vibration sensor, ultrasound detector, infrared sensor, spectrometer, corrosion probes, spectrum analyzer and others, wherein ‘others’ include velocity sensors and transmitters, thermal cameras and IR thermometers, viscometers and particle counters, and networking devices. Of these, ultrasound detectors category held the largest market share.
The machine condition monitoring equipment market in APAC region is expected to register highest CAGR during the forecast period. The region comprises of one of the fastest growing economies in the world, including China and India. China is a world leader in the production of consumer goods and the largest producer of mobile phones, solar cells, shoes, ships and other products.
One of the major growth drivers for machine condition monitoring equipment market is the technological advancements in wireless communication. The features of wireless monitoring equipment such as low cost, high efficiency is incomparable with wired monitoring equipment.
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Some of the key players operating in the market are General Electric (GE) Company, Corrpro Companies, Inc., Grupo Álava Ingenieros, AB SKF, Honeywell International Inc., Rockwell Automation, Inc., Parker-Hannifin Corporation, National Instruments Corporation and Azima DLI Corporation.
About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Digital Pen Market Regional Outlook With Demand and Growth Drivers by 2023
Global digital pen market is expected to reach $2,098.1 million by 2023. Growing usage of digital pens in education and health sectors, increased usage of smart devices, advancements in digital technology, and high per capita income are some of the major factors driving the growth of the market.
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Of all applications of digital pen market, clinical documentation will contribute the highest shipment globally, with a projected share of more than 20% in 2023. It is also expected to be the fastest growing category during the forecast period, registering a CAGR of 21.3%. This is due to improving healthcare infrastructure and increasing demand for digital healthcare technologies.
North America has been the largest digital pen market, accounting for 44.5% and 40.6% shares in terms of value and volume respectively in 2017, followed by Asia-Pacific. It is mainly attributed to the increased usage of tablets and personal computers, and increasing penetration of internet.
Increasing use of digital pens in art and design works is a key trend observed in the digital pen market. Application of digital pens in art and design-related works, such as sketching and drawing, provides almost a natural experience to users, by facilitating development of freehand illustrations and designs, which can be modified once they are transferred to a computer. Digital pens with character recognition software are very helpful in presentations, as the written text can be directly converted into typed text and recorded in a device.
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Some of the key players in the global digital pen market are Apple Inc., HP Inc., Microsoft Corporation, Anoto Group AB, Wacom Co. Ltd., Toshiba Corporation, Canon Inc., STAEDTLER Mars GmbH & Co. KG, Hanwang Technology Co. Ltd. NeoLAB Convergnece, Luidia Inc., and Moleskine S.p.A.
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3D Printing Market Outlook Trends, Demand and Growth Drivers by 2023
Global 3D printing market is expected to reach $31,863.7 million by 2023 and is forecasted to witness a CAGR of 24.6% during the forecast period. 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.
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Based on application, 3D printing market is categorized into prototyping, product development, innovation, efficiency increment, cost reduction, supply chain improvement and others, where “others” include product line expansion, new revenue sources generation, customized product development, and customer experience transformation.
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.
Some of the major companies operating in the global 3D printing market are 3D Systems Corporation, Stratasys Ltd., ExOne, Voxeljet AG, Arcam AB, SLM Solutions GmbH, EOS GmbH, Envision TEC GmbH, Materialise NV, Concept Laser GmbH, Autodesk Inc., and Koninklijke DSM N.V.
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About P&S Intelligence
P&S Intelligence, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
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