The automated 3D printing market is projected to reach USD 1,793 million by 2023 from USD 196 million by 2018, at a CAGR of 55.65%
NEW YORK, Nov. 13, 2018 /PRNewswire/ -- Automated 3D printing market to grow at CAGR of 55.65% from 2018 to 2023
The automated 3D printing market is projected to reach USD 1,793 million by 2023 from USD 196 million by 2018, at a CAGR of 55.65%. Growth of this market is largely attributed to factors such as the increased focus on efficiency and cost of production, growth in adoption of robotics for industrial automation, and growing need to automate post-processing. However, the high cost of installation of automation equipment is expected to restrict the growth of the said market.
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Automated 3D printing market for hardware to register highest growth during forecast period
The automated 3D printing market for hardware is expected to grow at the highest CAGR during the forecast period.Among the hardware types, the adoption of robots is proving to be beneficial for the companies to achieve complete automation.
The end users are introducing robots in their 3D printing processes for significant transformation in terms of increased productivity and efficiency, leading to higher levels of output, product quality, and flexibility. These benefits are propelling the adoption of automation hardware in the 3D printing processes.
Market for industrial manufacturing, high-tech equipment, and engineering to grow at highest CAGR during forecast period
The automated 3D printing market for industrial manufacturing, high-tech equipment, and engineering is expected to register the highest growth during the forecast period.For these end users, additive manufacturing provides new solutions for the low-volume production of different parts, with a new tool-less and cost-effective production method.
The group of equipment used in these applications is highly efficient in terms of time and cost. Hence, the automation of 3D printing in this end-user segment is more than that in other end-user segments.
Market in APAC to register highest growth during forecast period
APAC is an economically growing region owing to the presence of technologically strong countries such as China and Japan.The majority of the world's consumer goods and electronics are manufactured in APAC, particularly in China and Taiwan.
The economic and manufacturing process of China, supported by tiger economies, are expected to facilitate the transformation of the small batch production capabilities into large batch production capabilities in APAC.
Breakdown of primary participants' profile:
• By Company Type: Tier 1 = 25%, Tier 2 = 30%, and Tier 3 = 45%
• By Designation: C-Level Executives = 45%, Directors = 35%, and Others = 20%
• By Region: North America = 40%, Europe = 30%, APAC = 25%, and RoW = 5%
Key players in the automated 3D printing market include Stratasys (Israel), ExOne(US), 3D Systems (US), Materialise (Belgium), Universal Robot (Denmark), Formlabs (US), EOS GmbH (Germany), SLM Solutions (Germany), Renishaw (UK), Concept Laser (Germany), Coobx (Liechtenstein), Authentise (US), NVBOTS (US), PostProcess Technologies (US), and DWS System (Italy). The study includes the in-depth competitive analysis of these key players in the automated 3D printing market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The market study covers the automated 3D printing market across segments.It aims at estimating the market size and the growth potential of this market with regard to different segments such as offering, process, and end user, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automated 3D printing market as well as for the segment-based markets.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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