How 3D and 4D technology is emerging as a dynamic market with momentum
A growing number of mergers, acquisitions and partnerships are centred around 3D and 4D technology, a market which could grow exponentially over the course of the next decade.
A recent study from technology research company Technavio focuses on the 3D and 4D technology market, which is estimated to grow by a value of approximately €351.61 billion ($371.9 billion) between 2022 and 2027. This would be a compound annual growth rate of 19.64%, a year-over-year growth rate of 18.64%, and the report indicates that growth momentum is expected to build even further.
A valuation of approximately €128.71 billion ($135.87 billion) was assigned to the 3D and 4D technology market in 2017, and the report from Technavio collates data from 2017 and 2021 to help project how this dynamic market will grow in the coming years.
Understanding different segments of the 3D and 4D technology market
The subject of the report was segmented into solution-based offerings, such as 3D and 4D output and input devices, as well as for the end-user, be that within entertainment or consumer electronics.
“The 3D and 4D output device segment will grow at the highest rate during the forecast period. The Hardware segment includes 3D and 4D printers. This includes printers for design, prototyping, and tooling in various industries such as defence, and consumer electronics,” Technavio notes.
The report mentions that 3D and 4D printing, once used for prototypes and experiments, has become developed and now has practical uses such as electronic tooling or in manufacturing. 2020 was the year in which this shift was most boldly observed.
“Many technology providers have initiated strategic collaborations to further enhance the production processes of both aerospace OEMs and component providers. These mentioned factors are influencing the market during the forecast period as they have a positive impact on the segment,” the report states.
Where is the 3D and 4D technology market expected to grow?
In the report the global 3D and 4D technology market is segmented into Africa, Europe, Asia-Pacific, North America and South America.
North America is observed as being a key centre of activity regarding the 3D and 4D technology market, accounting for 47% of the global market’s growth during the forecasted period of 2022 until 2027.
Research indicates that heightened investment in additive manufacturing, by both the public and private sector, is what is helping the 3D and 4D technology market thrive in the North American region.
The most relevant market drivers and trends
Technavio suggests that market growth is being significantly driven by security and surveillance systems, with leading original equipment manufacturers developing and implementing tech-based devices for use within said systems.
The growing adoption of drones and unmanned aerial vehicles for navigation and surveillance operations is another relevant driver for the market.
Among the most relevant trends in the 3D and 4D technology market is the growing number of strategic collaborations, mergers, acquisitions and partnerships. There is reportedly an increase in strategic collaborations within the global technology market, and a variety of researchers are apparently putting their focus on the development of new technologies, such as 3D and 4D tech.
One partnership that was cited was between Desktop Metal and Henkel in 2022, two companies who recently agreed to extend their agreement.
3D technology increasing in momentum over the course of next decade
Other relevant studies have also put a spotlight on how 3D technology is expected to grow as an industry through the 2020s.
Technavio estimates that the 3D scanner market will grow at a compound annual growth rate of 10.89% between 2022 and 2027, with the market expected to increase by a value of approximately €3.7 billion ($3.9 billion).
Furthermore, the 3D animation software market is predicted to have a compound annual growth rate of 12.47% between 2022 and 2027, with the market increasing by around €7.7 billion ($8.17 billion).
For more industry related news, click here.