Many vendors are relying on mergers and acquisitions in order to expand product offerings and gain a stronger foothold in the market. This kind of growth strategy has shaped the current market, and will continue to be a significant trend over the projected period, according to TechNavio analysis.
“Prominent enterprises like 3D Systems have been pursuing an aggressive inorganic growth strategy through acquisitions. The company acquired Village Plastics and Figulo in 2013 and Belgian Metal 3D Printing Service Company in 2014,” says Faisal Ghaus, Vice President of TechNavio.
The key vendors in the 3D Printing Market are also investing progressively in R&D so as to provide better functionality and more innovative products. These investments have helped many vendors capture a significant market share and gain a competitive edge over competitors.
“Key vendors in the market like Stratasys, 3D Systems and Arcam have invested huge amounts in R&D for the expansion of their product portfolio. Burgeoning alliances, consolidations and such a strong emphasis on R&D will help the market thrive during the forecast period,” says Ghaus.
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Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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