Key Companies Covered in 3D Printing Market Research Report are 3D Systems Inc., Arcam EBM, Autodesk Inc., Envisiontec Inc., ExOne, Hoganas AB, Made in Space Inc., Materialise, Optomec Inc., Ponoko Inc., Stratasys Ltd., Voxeljet AG
PUNE, India, Jan. 7, 2020 /PRNewswire/ -- The global 3D Printing Marketsize is slated to reach USD 51.77 billion by 2026, surging at a CAGR of 25.8% during the forecast period. Rising application of 3D printing technology in healthcare is set to gain prominence as a key growth driver for this market in the forthcoming years. According to a study published in the medical journal 'Quantitative Imaging in Medicine and Surgery', 3D printing has attained popularity in the medical field owing to its wide-ranging applications, such as in orthopedics and tumor imaging. The technology has enabled medical professionals to create patient-specific body parts and organs using data from CT and MRI scans. For instance, the US National Institutes of Health reported that 3D-printed accurately replicated anatomical structures for treating aortic dissection and aortic aneurysm using CT scans of patients. Thus, the healthcare industry stands to benefit from the increasing advancements in 3D printing solutions.
Fortune Business Insights™ states in its report, titled "3D Printing Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Technology (Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Direct Metal Laser Sintering (DMLS/SLM), PolyJet, Multi Jet Fusion (MJF), Digital Light Processing (DLP), Binder Jetting, Electron Beam Melting (EBM), Continuous Liquid Interface Production (CLIP/CDLP), Selective Deposition Lamination (SDL), and Laminated Object Manufacturing (LOM)), By Applications (Prototyping, Production, Proof of Concept, and Others), By End-User (Automotive, Aerospace and Defense, Healthcare, Architecture and Construction, Consumer Products, Education, and Others) and Regional Forecast, 2019-2026", that the value of this market stood at USD 8.58 billion in 2018.
The report also contains:
An elaborative overview of the general industry outlook;
SWOT analysis of the market through a comprehensive analysis of its drivers, trends, and restraints;
Meticulous segmentation of the market and a piece-meal study of the individual segments; and
In-depth evaluation of the regional and competitive dynamics shaping the market in the given time period.
Enhanced Productivity Benefits to Boost Additive Manufacturing Market Growth
3D printing technology carries a variety of benefits for manufacturers. For example, on account of its accuracy in printing different items, 3D printing tools are being heavily utilized in primary production stages to identify defects and thereby increase the overall quality and performance of the final product. Furthermore, 3D-printed products can be more easily modified than conventionally manufactured objects, accelerating the 3D printing solutions market revenue. Lastly, this technology allows manufacturers to customize and personalize products as per the customer's choice, which is likely to govern the 3D printing market trends in the near future.
North America to Have a Tight Grip on the Market; Asia-Pacific to Grow at Breakneck Speed
North America, boasting a market size of 3.39 billion in 2018, is poised to dominate the 3D printing market share in the forecast period. Increasing investment in advanced manufacturing technologies, presence of major players, and a stable economy is propelling the additive manufacturing market revenue in North America.
The market in Asia-Pacific is projected to showcase fastest growth among the regions owing to government promotion of new-age technologies in manufacturing and rising demand for customized products. In the Middle East and Africa, growth is expected to be steady as the uptake of modern software solutions in manufacturing picks up pace.
Rising Focus on R&D Activities to Characterize Market Competition
The 3D printing market analysis reveals that key players in this market are intensely focused on elevating their R&D capacities to develop innovative products for different industries and consolidate their position.
Key Industry Developments:
October 2019: California-based Made in Space announced that it will launch its Plastic Recycler towards the International Space Station (ISS) in November 2019. The product will convert the plastic waste generated by the 3D printer on the ISS into feedstock for the company's 3D printer, Additive Manufacturing Facility.
March 2019: Optomec Inc. exhibited its path-breaking Aerosol Jet systems which will enable 3D printing of electronic goods on structural metals such as aluminum and stainless steel. More importantly, the system would reduce costs by up to 75% compared to conventional heater attachments.
List of Top Players Covered in the 3D Printing Market Report:
Aerospace 3d printing MarketSize, Share & Industry Analysis, By Vertical (Printers and Materials), By Industry Type (UAV, Aircraft, and Spacecraft), By Application Type (Engine Components, Space Components, and Structural Components), By Printer Technology Type (DMLS, FDM, CLIP, SLA, SLS and Others), and Regional Forecast 2019-2026
Industrial Automation MarketSize, Share & Industry Analysis, By Component (Hardware and Software), By Industry (Discrete Industry and Process Industry), and Regional Forecast, 2019-2026
Virtual Reality Market Size, Share & Industry Analysis, By Offering (Hardware, Software), By Technology (Nonimmersive, Semi-Immersive), By Industry Vertical (Gaming & Entertainment Media, Healthcare, Education, Automotive, Aerospace & Defense, Manufacturing), By Application (Training & Simulation, Educational, Attraction, Research & Development) and Regional Forecast, 2019 – 2026
Virtual Reality in Aerospace and Defense Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Training, Maintenance Assistance, Design and Manufacturing, Passengers Entertainment), and Regional Forecast, 2019-2026
Virtual Reality (VR) in Healthcare Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Pain Management, Education and Training, Surgery, Patient Care Management, Rehabilitation and Therapy Procedures and Post-Traumatic Stress Disorder (PTSD)), and Regional Forecast, 2019-2026
Virtual Reality in Manufacturing Industry Share, Trends & Industry Analysis, By Component (Hardware, Software, Content), By Application (Product Design and Development, Safety and Training, Maintenance and Repair, and Communication & Collaboration), and Regional Forecast, 2019-2026
Augmented Reality and Virtual Reality Market Size, Share and Global Trend by Component (Hardware, Software), Application (Commercial, Consumer, Aerospace and Defense, Healthcare, Enterprise), and Geography Forecast till 2026
Artificial Intelligence (AI) Market Size, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019 - 2026
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