|By Business Wire||
|February 3, 2014 11:31 AM EST||
Research and Markets (http://www.researchandmarkets.com/research/5g4c9d/global_3d_printer) has announced the addition of the "Global 3D Printer Market 2012-2016" report to their offering.
The analysts forecast the Global 3D Printer market to grow at a CAGR of 16.3 percent over the period 2012-2016. One of the key factors contributing to this market growth is the demand for quick turnaround time. The Global 3D Printer market has also been witnessing the rapid growth of 3D printing among entrepreneurs and consumers.
The key vendors dominating this space include 3D Systems, Envision TEC, Ex One Co., and Stratasys Inc.
Commenting on the report, an analyst from the team said: With the reduction in the cost of 3D printers, they have become more accessible to small entrepreneurs and consumers who were unable to afford the very expensive technology in the past. This has sparked innovation and creativity, enabling them to create custom objects and spare parts for everything from toys to artificial limbs. This new technology has enabled entrepreneurs to bypass other expensive manufacturing processes and take a product idea directly to market. Thus, the rapid growth of 3D printing among entrepreneurs and consumers will continue to drive the Global 3D Printers market during the forecast period.
According to the report, the increased need to reduce the time-to-market of products is one of the major drivers in the market. 3D printers facilitate the production of reliable and cost-effective products and reduce the need for multiple prototypes and analysis time, thereby reducing the product development cycle time.
Further, the report states that the main challenges faced by the market are the intellectual property rights issues and the copyright issues. With the increase in the trend of using 3D printing technology, the cases relating to patent infringement and intellectual property rights will increase considerably, which might hamper the growth of the Global 3D Printers market.
For more information visit http://www.researchandmarkets.com/research/5g4c9d/global_3d_printer
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