The market for the desktop segment is expected to grow at a higher CAGR between 2017 and 2023. Product innovation, customization, reduction in the cost of desktop 3D printers, and the introduction of new materials are the major drivers for the growth of the market. Desktop 3D printers are now being used by both hobbyists and professionals to develop functional parts, especially the consumer products, owing to the availability of advanced 3D printing technologies at an affordable cost. Industrial printers held a larger share of the 3D printer market in 2016 and are expected to continue with the same in nearest future.
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Increased deployment of the technology for prototyping and functional parts creation is expected to be the key driving factor for the growth of said the 3D printer market. Industrial printers are used in the aerospace and defense, automotive, energy, engineering for die casting, injection molding, and tool repair.
However, the market of desktop segment expected to grow at a higher CAGR during the forecast period owing to the reduction in printer prices along with technological advancements, leading to their growing deployment across the industries such as education, consumer products, food and culinary and printed electronics.
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Aerospace and defense, engineering, and healthcare verticals held a large share of the global 3D printing market in 2016.
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However, the consumer products and automotive verticals are expected to surpass the share of the healthcare vertical by 2023. The aerospace industry offers tremendous opportunity for 3D printing technologies and is expected to present a promising potential in the coming future.
The stringent requirements such as lightweight components, and accuracy and precision in the designs of airplane parts are the major factors fueling the 3D printing market for the aerospace vertical. The market for the food and culinary, printed electronics, and education verticals are expected to grow at the leading CAGR during the forecast period.
This report segments the 3D printing market comprehensively and provides the closest market size projection for all sub segments across different regions. The Global 3D Printing Software Market is projected to grow at a CAGR of +25% by 2022
The global 3D printing software and services market is emerging at a rapid pace. With the emergence of many new forms of software in the category of design/modeling, data preparation, simulation and machine control (which includes slicing software), there are a wide range of opportunities in the 3D printing industry to design and implement extensive variety of 3D printed objects.
Manufacturers, designers, artisans and individuals are harnessing the cutting-edge technology of 3D printing and mass production to create objects for numerous applications. 3D printing companies have retorted with a range of online 3D printing services that offer technologies catering to a wide range of uses.
Their ultimate goal is to help the clients use the technology without investing substantial amount of time and money into researching 3D design principals and 3D printing technologies for a particular business.
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The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
While most of the consumer 3D printers can be purchased for $1000 or less, the cost of commercial 3D printers that offer the precision and build quality that many businesses need, can be as high as several thousands of dollars. Hence, the current trend that is trailing in the 3D printing industry is that many of the small businesses are opting for 3D printing services, wherein they upload the design they need, and get the 3D printed products constructed by a 3D printing service provider (that already has a 3D printer) at a substantially low cost.
In other words, service bureaus that 3D print objects on demand provide a way for smaller companies to rapidly prototype without the need of immediate investment of considerable amounts.
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