The global 3D printing devices, services, and supplies market was valued at USD 5.7 billion in 2015 and is expected to reach USD 27.8 billion by 2023, growing at a CAGR of 25% during the forecast period of 2017 to 2023. 3D printing, also known additive manufacturing creates physical objects from a digital design file by using input substrate materials using a layer upon layer printing method. There are seven major printing technologies available today, which include vat photo polymerization, material extrusion, material jetting, binder jetting, powder bed fusion, direct energy deposition and sheet lamination. Various materials used in 3D printing manufacturing includes plastics, ceramics, wax, metals, sand, glass, biomaterials, etc. Each technology has a different way of processing input materials into a final physical object. Combined with advanced scanning, 3D printing technologies allow physical products to be converted into digital design files and vice-versa.
Figure: Global 3D Printing Devices, Services, and Supplies Market by Value
3D printing has been transforming over the past several years and there is growing evidence that the innovations in technology and materials have finally brought it beyond the publicity stage. Aerospace, defense and automotive are the most mature industries in applying 3D printing. Nevertheless, growing awareness of 3D printing in the market and a readiness to leverage the technology for prototyping, tools, fixtures and even finished products are increasing in several other industries.
Growing awareness about 3D printing, increasing benefits, increased the ability to innovate, reduced lifecycle costs by using 3D printing, and reduced time to market are few factors promoting the growth of this market. In addition to these growth drivers, the technological developments in healthcare 3D printing as well as growing government and private funding to support the development of new 3D printing technologies, and increasing demand for organ transplantation propelling the market growth further. However, there are certain restraining factors which could hinder the market in future, which includes quality and regulatory issues, lack of sufficient 3D printing experts, challenges related to choosing the right candidate for 3D printing, reimbursement challenges and Bio-compatibility challenges.
Based on the type of industrial application, the 3D printing market is segmented into following segments, aerospace, healthcare, automotive, industrial, jewelry, energy and others (which include logistics, fashion, food, electronics, wholesale & retail, etc.). Based on the type of product, the market is segmented into software, hardware, services, and materials.
The company profile section includes the detailed analysis of some of the key players such as 3D Systems Corporation, Arcam AB, The ExOne Company, Stratasys Ltd., EOS GmbH Electro Optical Systems, EnvisionTEC, Materialise NV, XYZprinting, SLM Solutions Group AG, and M3D.
The report delivers a strategic analysis of the global market for 3D printing devices, services and supplies; and growth forecast for the period from 2015 – 2023. The scope of the report includes industry analysis, competitive analysis of various market players who are operating in the market, segmental analysis based on the type of product and application areas. It also covers geographical analysis of the market with growth forecast for the period of 2017 – 2023. The Porter’s Five Forces analysis and competitive analysis included in the report provides an insight into market dynamics and industry competition. The study also provides information for recent merger and acquisition deals happened in the market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry, financial analysis and various business strategies adopted by them. This report will help players in global 3D printing market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.
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