BLOOMINGTON, Minnesota, November 8, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global 3D Printing Software and Services Market, Analysis & Forecast, 2017 - 2021", the global 3DP software and services market is expected to reach $4.5 billion by 2021, growing at a CAGR of 25.2%, from 2017 to 2021. The high investment cost of 3D printers, strong growth in medical industry, growing demand from manufacturing sectors, ease of developing customized products, government initiatives, rising investments for research and development (R&D), and the increasing proliferation of 3D printed parts for numerous end use applications across the globe are expected to result in a strong growth of the market globally.
Browse more than 65 Data Tables and 130 Figures spread through 359 Pages and in-depth TOC on "Global 3DP Software and Services Market"
The rapid growth of the 3D printing software and services market in the recent years, and the emergence of various new software in the category of design/modeling, data preparation, simulation, and machine control (which includes slicing software) have opened up a wide range of opportunities for the 3D printing industry to design and implement 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 responded with a range of online 3D printing services that offer technologies catering to a wide spectrum of uses. Their ultimate goal is to help the clients utilize the technology without investing substantial time and money into researching 3D design principals and 3D printing technologies for a particular business.
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, a requisite for a number of businesses, can be as high as thousands of dollars. Hence, the current trend in the market is to opt for 3D printing services wherein small businesses 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 having to invest large sums up front.
According to Saloni Aggarwal, analyst at BIS Research, "Asia-Pacific (APAC) 3DP software and services market is expected to witness the fastest growth throughout the forecast period. Increasing involvement of various APAC countries in 3D printing, excessive industrial base, encouraging governmental policies, and financial support in research and development by APAC countries, especially Japan, and China which are notable in terms of governmental initiatives, and rapid growth in 3D printing, will be the primary growth drivers in the region. For instance, the Chinese 3DP software and services market is anticipated to grow with the fastest CAGR of 28.8%, in the coming 5 years. The 'Made in China 2025' initiative taken up by the government of China, under China's 15th 5-Year industrial transformation plan for hi-tech manufacturing, takes most of the credit for the increasing growth of 3DP software and services market in China."
Some factors such as the high cost and complexity of 3DP software, lack of technical expertise, quality and functionality of 3D printed products, legal issues, and environmental issues are some of the factors which are hampering the growth of the market. Opportunities in the emerging economies and the emerging application verticals, development of more user friendly software, and scope to enhance the supply chain management are expected to create growth prospects for the 3DP software and services market.
In terms of 3DP software, 3D designing software held the largest share of the market in 2016. Their large revenue can be attributed to the widespread success of software, such as Blender, SketchUp, SolidWorks, Fusion 360, Inventor, AutoCAD, Maya, and 3DS Max, which are the top grossing software in most of the countries, according to the research.
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This report is a meticulous compilation of research on more than 150 players in the 3D printing software and services ecosystem, and draws upon insights from in-depth interviews with the key opinion leaders of more than 60 leading companies, market participants, and vendors. The report also profiles around 25 companies among which are Stratasys, 3D Systems, Dassault Systèmes , Autodesk, Siemens, Materialise NV, Prodways, Voxeljet, Exone, Protolabs, PTC, GPI Prototyping and Manufacturing Services, Organovo, Citim GmbH, Digital Mechanics Sweden AB, Shapeways, Doob Group, Sculpteo, Pixologic, MadeInSpace, Imaginarium, Trimble, Artec3D, Sciaky Inc, and Star Rapid.
Key questions answered in the report:
- What is the size, in terms of value ($million), of the 3D printing software and service market in 2016, and the growth rate during the forecast period 2017-2021?
- What is the market size of different types of software used in 3D printing? What is the market size of different types of 3DP services?
- What are the different application areas where 3D printing service is employed the most?
- What is the market size of 3DP services used in different applications? Which application will lead the global 3D printing service market by the end of the forecast period?
- What are the different factors that are expected to drive, and challenge the global 3DP software and service market during the forecast period?
- What are the different investment opportunities in the global 3DP software and service market?
- Who are the leading players in the global 3DP software and service market? Which key strategies have been followed by the players to expand their market in 3DP software and service business?
- What kind of new strategies are being adopted by the established and naive participants to make a mark in the industry?
- Which region will lead the global 3DP software and service market by the end of the forecast period? Also, which country, in that specific region, will have the largest and smallest market share, respectively, by value and volume, in the forecast period?
- Which region and country are the most opportune for growth and investment in the global 3DP software and service market?
- What is the market share of the leading players in the global 3DP service market?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials & Chemicals, Aerospace and Defence, Automotive, Healthcare, Electronics & Semiconductors, Robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data, but also complement it with valuable insights and actionable inputs for the success of our clients.
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SOURCE BIS Research