- The 3D printing services market will grow at a CAGR more than 28%.
- The Extrusion segment dominates the global 3D printing services market
- 3D Systems, Stratasys, Materialise, and Proto Labs are the leading players
A recent report on the 3D Printing Services Market – Global Outlook and Forecast 2017-2022, released by Arizton Advisory & Intelligence says that the global 3D printing services market witness an immense growth during the forecast period 2016–2022.
Analysts at Arizton Advisory & Intelligence say that the market is likely to cross $13 billion in terms of revenue by 2022. Further, they add that the rise in demand for 3D printers in developed region such as the US and Europe and high preference for 3D printing over traditional printing are driving the 3D printing services market.
Increased Use in Manufacturing Industry due to Technological Advancement to Propel Market Growth
The global 3D printing services market is increasing, and one of the areas in which this technology can play a vital role is the manufacturing industry. As the technology enables users to produce customized products with a personal touch, the market is expected to witness the trend of mass customization in the new future. The trend of digital transformation worldwide has also led to companies offering 3D printing services to create awareness and interest among customers.
For instance, Sculpteo, a France-based service provider, entered into an agreement with French post office, La Poste in 2013 to offer 3D printing services.
Increased GDP and Rise in Industrial Automation Market another Factor Driving Market
The 3D printing services market is sensitive to fluctuations in raw material prices, GDP growth, government regulations, and industrial construction activities. Further, the growth is mainly driven by increased GDP, and the rise in the industrial automation market across the world. Establishments of manufacturing plants are also increasing as manufacturers are expanding their footprints worldwide. This could result in steady demand generation for 3D printing services among manufacturers worldwide.
Increase in VC Funding
Futuristic inventions in the mainstream manufacturing and their complementary technology could drive investors’ confidence in the global 3D printing services market, and the market will witness an increase in VC funding in the market. New start-ups would come with advanced technology with demonstrating advanced features while existing vendors will continue developing their product portfolio with upgrades. Thus, the introduction of upgrades will fuel the 3D printing services market growth during the forecast period.
Major Vendors Profiled in the Report are as following:
- 3D Systems
- Proto Labs
Other vendors in the global 3D printing services market include ARC Group Worldwide, Arcam (GE), Carbon, Concept Laser (GE), Cookson Precious Metals, EnvisionTEC, GE Additive, Groupe Gorgé, Höganäs, HP, Markforged, Mcor Technologies, Optomec, ReaLizer, Renishaw, SLM Solutions Group, , The ExOne Company, Voxeljet.
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