Global 3D Printing Services Market Report 2021: Reduction in Manufacturing Costs and Process Downtime Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "3D Printing Services Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering. test data and delivered to you within 3-5 working days of order.
The global 3D printing services market is expected to grow from $4.97 billion in 2020 to $6.76 billion in 2021 at a compound annual growth rate (CAGR) of 36%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.3 billion in 2025 at a CAGR of 25%.
3D printing technology helps companies greatly reduce their manufacturing costs, reduce downtime and minimize waste. With the use of 3D printing for prototyping, companies can significantly lower the cost of developing new products. The minimal labor/workforce involved in this process also contributes to the low manufacturing costs. Due to 3D printing the manufacturing time can be reduced from months to days. For instance, to print a phone case it takes around 20 minutes, and similarly a 2*4 Lego can be printed in 4 minutes. Therefore, reduction in manufacturing costs and process downtime increased demand for the 3D printing services market.
Intellectual property on printing anything which has property rights issues is considered unauthorized and subjected to an act of patent infringement. This factor hampers the growth of 3D printing service market growth. In 3D printing market, the products which are available to print are less. 3D printing products are widely used in the health care industry. Pharmaceutical companies can drastically improve the drug research and development (R&D) by 3D printing as the technology could even be used to print human organs and tissue. However, to print an organ one should buy the patent of the 3D building product code, which makes the product cost high. Therefore, intellectual property on printing products hampers the growth of the 3D printing service market.
The 3D Printing service market covered in this report is segmented by service offering into tooling; parts production; software services; system maintenance; expert service and by end user into consumer products; automotive; healthcare; aerospace & defense.
3D printing Services providers are implementing Cloud-based 3D printing services. Cloud-based 3D printing management platform can be used by any individual, enterprises, schools, and service bureaus to render, fix, store 3D design securely and stream 3D design to the 3D printer with complete data tracking and analytics.
- 3D Systems Corporation
- Materialise NV
- ProtoLabs - 3D Rapid Prototyping Company
- HP Inc.
- SLM Solutions Group
- ARC Group Worldwide
- Concept Laser (GE)
- Cookson Precious Metals
- GE Additive
- Groupe Gorge
- Mcor Technologies
Key Topics Covered:
1. Executive Summary
2. 3D Printing Services Market Characteristics
3. 3D Printing Services Market Trends and Strategies
4. Impact of COVID-19 on 3D Printing Services
5. 3D Printing Services Market Size and Growth
6. 3D Printing Services Market Segmentation
7. 3D Printing Services Market Regional and Country Analysis
8. Asia-Pacific 3D Printing Services Market
9. China 3D Printing Services Market
10. India 3D Printing Services Market
11. Japan 3D Printing Services Market
12. Australia 3D Printing Services Market
13. Indonesia 3D Printing Services Market
14. South Korea 3D Printing Services Market
15. Western Europe 3D Printing Services Market
16. UK 3D Printing Services Market
17. Germany 3D Printing Services Market
18. France 3D Printing Services Market
19. Eastern Europe 3D Printing Services Market
20. Russia 3D Printing Services Market
21. North America 3D Printing Services Market
22. USA 3D Printing Services Market
23. South America 3D Printing Services Market
24. Brazil 3D Printing Services Market
25. Middle East 3D Printing Services Market
26. Africa 3D Printing Services Market
27. 3D Printing Services Market Competitive Landscape and Company Profiles
28. Key Mergers and Acquisitions in the 3D Printing Services Market
29. 3D Printing Services Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/5y3zvn
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900