|12-06-2018 08:11 PM CET - IT, New Media & Software||
3D Systems Corporation, Stratasys, ExOne (The ExOne Company), SLM Solutions Group AG, EOS, Autodesk and EnvisionTEC in the 3D Printing Market by 2023
Press release from: P&S Intelligence
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 2018-2023. 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. Of them, prototyping held the largest revenue share of nearly 24% in 3D printing market, as industries like aerospace and defense as well as automotive adopted 3D printing for developing prototypes.
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.
The growing ease of developing customized products is driving the 3D printing market. 3D printing facilitates product customization, without increasing the cost of manufacturing. It allows users to create customized and unique products, as per their requirements. The technology is cost-efficient and offers improved printing quality, due to which companies, across the world are widely adopting it. Thus, the growing adoption of 3D technology among consumers is expected to generate high demand for 3D printers.
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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Global 3D Printing Market Segmentation
Market Segmentation by Component
o Industrial Printer
o Desktop 3D Printer
o By Type
Others (Inconel, Cobalt Chrome, Copper & Bronze and Iron)
Acrylonitrile Butadiene Styrene
Polylactic Acid (PLA)
Others (Polypropylene, Polycarbonate, Carbon Fiber, Polyethylene Terephthalate (PETT), and Polyvinyl Alcohol)
Others (Feldspar, Pottery Stone, and Talc)
Others (Wax, Lay wood, Paper, and Biocompatible Material)
o By Form
o Design Software
o Printer Software
o Scanning Software
o Inspection Software
o Custom Design & Manufacturing
o After-Sales Services
Market Segmentation by Process
• Powder Bed Fusion
• Binder Jetting
• Direct Energy Deposition
• Sheet Lamination
• Vat Photopolymerization
• Material Extrusion
• Material Jetting
Market Segmentation by Technology
• Fuse Deposition Modelling (FDM)
• Selective Laser Sintering (SLS)
• Laminated Object Manufacturing
• Digital Light Processing (DLLP)
• Polyjet Printing
• Inkjet Printing
• Direct Metal Laser Sintering (DMLS)
• Electron Beam Melting (EBM)
• Laser Metal Deposition (LMD)
Market Segmentation by Application
• Product Development
• Efficiency Increment
• Cost reduction
• Supply Chain Improvement
• Others (Product Line Expansion, New Revenue Sources Generation, Customized Product Development, and Customer Experience Transformation)
Market Segmentation by Industry
• Aerospace & Defense
• Gems and Jewelry
• Architecture & Construction
• Others (Consumer Products, Education, Printed Electronics, Food and Culinary)
About P&S Intelligence
P&S Intelligence, a brand of P&S Market Research, 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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This release was published on openPR.
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