DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/8s8n28/3d_printer_market) has announced the addition of the "3D Printer Market in South Korea 2014-2018" report to their offering.
The analysts forecast the 3D Printer market in South Korea to grow at a CAGR of 29.7% over the period 2013-2018.
In the Automotive and Aerospace industries, the use of 3D printing enables manufacturers to make the prototype of complex parts with high efficiency. Fashion designers also use 3D printing to create a prototype of jewelry and clothing by using materials such as nylon. Further, researchers are seeking ways to use 3D printing to make prosthetic parts using biological materials such as cartilage, bone, and skin. The 3D printing technology is an evolving technology, which serves industries such as Automotive, Healthcare, and Aerospace, and is expected to find new applications in other industries as well.
The rapid growth of 3D printing among entrepreneurs and consumers is one of the major trends in this market. Reduced costs of 3D printers have made them accessible to small entrepreneurs and consumers who were earlier unable to afford this expensive technology. This has sparked innovation and creativity, allowing them to create custom objects and spare parts, from toys to artificial limbs. This new technology has enabled entrepreneurs to bypass expensive manufacturing processes and take a product idea directly to the market. Thus, the rapid growth of 3D printing among entrepreneurs and consumers will continue to drive the 3D Printer market in South Korea during the forecast period of 2013-2018.
According to the report, increased need to reduce the time-to-market is the most important factor driving the market. 3D printers facilitate the production of reliable and cost-effective products and lower the need for multiple prototypes and analysis time, reducing product development cycle time and thus the time-to-market pressure for vendors, thereby fostering the growth of the 3D Printer market.
Further, the report states that intellectual property rights issues and copyright issues are one of the key challenges faced by the 3D Printer market in South Korea. With an increase in the usage of 3D printing technology, cases relating to patent infringement and intellectual property rights have also increased, and might hamper the growth of the 3D Printer market in South Korea.
- 3D Systems
Other Prominent Vendors
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by End-user
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/8s8n28/3d_printer_market