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3D printing companies market share
3D Printing Market Size, Growth
The global 3D printing market size was valued at USD 15.10 billion in 2021. The market is projected to grow from USD 18.33 billion in 2022 to USD 83.90 billion by 2029, exhibiting a CAGR of 24.3% during the forecast period. Based on our analysis, the global market exhibited an average growth of 20.2% in 2020 as compared to 2019.
Rapidly increasing digitization, increasing adoption of advanced technologies such as Industry 4.0, smart factories, robotics, machine learning, and others fuel the demand for online 3D printing for simulation purposes. These technologies increase the chances of broader adoption and greater utilization of this technology across industries, including aerospace, automotive, healthcare, among others. For instance,
- Aerospace companies are exploring this 3D printing for manufacturing various hardware parts of their products. For instance, Boeing leverages industrial 3D printing to manufacture the interior parts of its plane, whereas, NASA uses it to build rocket engines and parts of the satellite.
- Automotive industry is expected to show a huge adoption of this technology. Rapid tooling incorporated with additive manufacturing has become the priority of many automotive manufacturers. Customization of the automotive interior is another major application of this technology in the automotive industry.
COVID-19 IMPACT
Supply Chain Disruption and Halts on Production Units Negatively Impact Printing Industry Amid Lockdown
Post outbreak of the COVID-19 crisis, industrial hubs, manufacturing sectors witnessed an immediate supply chain disruption and halts on production. As a result of the fast-spreading pandemic, the overall industrial production across the globe experienced a sharp decline. It was demobilized, reflecting supply chain disruption, and reviving financial market conditions. The crisis forced market players across the globe to reduce their operational expenditure. Fewer operation expenditures restricted the investments of market players in this technology in 2020, impacting the 3D printing market growth.
The temporary closures of the factories in major economies such as China, Southeast Asia, the U.K., Germany, and others have impacted the production plants of the 3D technology industry and operations of suppliers resulting in short-term supply shortages. Manufacturing capacity was observed to be restored to normalized levels by the end of July 2020. The short-term disruptions in supply shortages have resulted in logistics challenges, including delays in delivering services to end-use industries. Such a situation affected the company’s ability to meet the technology demand of the end customers. For instance,
- Stratasys, one of the well-known companies in the market, experienced dip in sales in the early months of COVID-19 pandemic. However, later, the company started rebounding as it picked up new manufacturing contracts.
However, the study conducted by the ‘Society of Manufacturing Engineers’ states that 25% of the manufacturers in the United States plan to change their supply chains in response to the pandemic.
The study also found that they prioritize investing in this technology post-COVID-19 out of other technologies such as robotics, 5G, digital security, and artificial intelligence. This shows that the increasing investments of manufacturers in 3D technologies are likely to uplift the growth of the market in the forthcoming years.
LATEST TREND
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Advancement in 3D Hardware and Software is Generating New Revenue Streams for Market Players
Techno-savvy start-ups and established market players are upgrading and developing new technologies. The advancements in hardware have led to faster and reliable 3D printers for production applications. Polymer printers are one of the most used 3D printers.
- According to a 2019 report by Ernst & Young Global Limited, 72% of the enterprises leveraged polymer additive manufacturing systems, whereas the remaining 49% used metal additive manufacturing systems.
The statistics show that developments in polymer additive manufacturing would create new market opportunities for market players.
Fused Filament Fabrication (FFF) and powder bed fusion technologies such as Multi Jet Fusion offered by HP Inc. are expected to be the most preferred industrial 3D technologies by the manufacturers due to their ability of volume manufacturing and high productivity. Similarly, resin-based technologies such as digital light processing (DLP) and Stereolithography (SLA) are more likely to have a growing demand from the dental and consumer goods industry.
Similarly, software developments are gaining pace in the 3D industry driven by the demand to streamline operations. The technology has been extensively used in the manufacturing process, which has surged the need for software that can help manufacturers to increase production volumes and enhance their additive manufacturing processes efficiently.
DRIVING FACTORS
Substantial Investments of Governments and Tech Giants to Foster Market Growth
Many countries across the globe are experiencing massive digital disruptions in advanced manufacturing technologies.
The United States is a potential user of 3D technology. In 2018, the United States Department of Defense included this technology as an important capability in their budget. Even tech software giants such as Autodesk, Microsoft, and HP have launched products aimed at additive and 3D printing manufacturing.
Similarly, China is making significant efforts to maintain the competitive index of the manufacturing industry in the global market. Chinese manufacturers foresee this technology as both a risk and opportunity for the Chinese manufacturing economy, and hence they tend to invest in the research and development of this technology.
Whereas India is looking forward to this technology as an opportunity to increase its share in global manufacturing competitiveness. The market in India is supported by active government initiatives such as the ‘Make in India’ Initiative.
Korea has established an independent roadmap for research and development of this technology and provides national support to execute it.
The government of Korea is introducing tax incentives and accelerating industry regulatory agreements to encourage the adoption of this technology.
The U.K. government has developed an independent 3D technology strategy; however, it is witnessing some uncertainties in the U.K. manufacturing sector due to Brexit. Germany is expected to define new strategies for the technology as Germany has a well-established Industry 4.0 infrastructure.
RESTRAINING FACTORS
High Initial Investments to Restrict Market Growth
High initial investments are observed to be the most significant restraint for adoption of this technology. This investment encompasses investment in hardware, software, materials, certification, additive & manufacturing education, and training for the employees. The capital costs and resources required to set up a 3 dimensional system are quite expensive than traditional printing methods.
However, with the introduction of the industrial Desktop 3D printer, the manufacturers are helping the end-customers cut the high initial costs.
Desktop printers are easy to use and handle and also are less expensive than the 3 dimensional system.
SEGMENTATION
By Component Analysis
Wider Adoption of the Software to Make Designs of Objects and Parts to Fuel its Growth Rate
On the basis of component, the market is divided into hardware, software, and services.
Adoption of hardware for manufacturing 3D printed material is maximum and is likely to maintain its dominance during the forecast period. The demand for hardware is increasing as major key players are enhancing their product portfolio and launching new technologies to serve high demand from several industry verticals. Companies are investing in research & development activities, which have a positive impact on the market growth.
The software is expected to grow at a high CAGR during the forecast period. The 3D printing software is widely used in different industry verticals to design the objects and parts to be printed.
As manufacturing companies are shifting away from traditional manufacturing methods, the adoption of 3D software has grown to print iterations of different manufacturing parts.
By Technology Analysis
Fused Deposition Modeling (FDM) Technology to be at Forefront
Based on technology, the market has been divided into FDM, SLS, SLA, DMLS/SLM, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM.
Among these, fused Deposition Modeling (FDM) technology captured the maximum share in 2021. The growth of FDM is mainly due to the ease of operation and advantages associated with the technology. FDM technology is highly used in making durable, strong, and dimensionally stable parts.
Direct Metal Laser Sintering (DMLS/SLM) technology is expected to grow at a high CAGR during the forecast period. The technology promotes the production of high-quality metal components, which makes them suitable for the manufacturing industry since they enable the creation of complex geometries of metals of extremely small sizes.
Selective Laser Sintering (SLS) is expected to show significant growth in coming years. SLS finds a wide variety of vertical applications, including aerospace, defense, automotive, and others. Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, LOM technologies are expected to witness a significant rise in adoption in the upcoming years.
By Application Analysis
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Prototyping to Capture Maximum Market Share Due to its Widespread Acceptance Across Various Vertical Industries
This technology has application in prototyping, production, proof of concept, and others.
Due to widespread acceptance of the prototyping process across various vertical industries, the prototyping represented the largest market share in 2021. Prototyping helps businesses to achieve greater precision and produce consistent end products.
This technology helps to manufacture 3 dimensional computer-aided design (CAD) models and prototypes.
The production is expected to witness strong growth during the forecast period. While manufacturers are shifting their traditional manufacturing units toward advanced manufacturing processes, the adoption of this technology to produce complex and low-volume parts is expected to grow during the forecast period.
By End User Analysis
Automotive Industry to Lead Market Owing to its Maximum Use in Producing Prototype Equipment
Automotive, aerospace and defense, healthcare, architecture and construction, consumer products, education, and others are some of the end-users of 3D printing.
The adoption of this technology in the automotive industry is expected to hold a maximum share in 2021. For decades, the automotive industry has been using this technology to produce prototype equipment and small custom products in a short time span.
The technology is being widely used for the construction of lightweight components for automobiles and OEMs.
Additive manufacturing has tremendous potential for the aerospace industry, where light, solid, and geometrically complex parts are required — and normally manufactured in limited quantities. Aerospace and defense companies are heavily using this technology to produce lightweight components.
Additive processing in the healthcare industry helps create artificial tissues and muscles that mimic normal human tissues that can be used in substitution operations. These skills are anticipated to lead to vertical acceptance of 3DP in healthcare and the sector's development.
On the other hand, architecture and construction, consumer products, education verticals are anticipated to grow at a significant CAGR during the forecast period.
REGIONAL INSIGHTS
North America 3D Printing Market Size, 2021 (USD Billion)
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Geographically, the market is divided into five major regions such as North America, South America, Asia Pacific, Europe, and the Middle East & Africa.
They are further categorized into countries.
Globally, North America accounted for the maximum share in the global market mainly due to rising expenditure on advanced manufacturing technologies by developed countries such as Canada and the U.S. Also, various government agencies, such as the National Aeronautics and Space Administration (NASA), have identified major R&D investments that can greatly contribute to space applications and create new technologies that drive business expansion.
Europe holds the second-highest market share in the global market. The demand for this technology is high among small and medium-sized industries that require high-speed, reliable, and inexpensive prototypes for manufacturing purposes. The regional market is expected to showcase strong growth in the adoption of this technology in the manufacturing and semiconductors industry.
Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. An increasing interest in the development of a sustainable 3D printing environment has been backed by APAC manufacturers and the implementation of several policies and legislative proposals by governments in the region.
Given the massive government funding for the industry, China is possibly the main force behind adopting this technology in Asia.
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The Middle East & Latin America is expected to showcase high growth during the forecast period. The rapid adoption of 3D technology in the region is mainly due to technological advancements and improvements in the manufacturing industry.
KEY INDUSTRY PLAYERS
Companies are Focusing on Partnership and Collaboration Activities for Safer Internet Environment
The prominent players of the market are focusing on offering advanced and innovative solutions catering to the growing needs of industries. These key players are investing in R&D to provide innovative services and materials. They are entering into strategic partnership and collaboration to provide next-generation solutions. These companies are offering consumer-centric solutions to help in boosting business growth.
Similarly, the key players are keen on offering a vast range of 3-dimensional materials to grow across every industry application.
February 2022 – Imaginarium partnered with Ultimaker to introduce desktop & industrial 3D printer range in the India market. This partnership would help Ultimaker to expand its business in India, where additive manufacturing is anticipated to reach a point of breakthrough in the coming years.
November 2021 – 3D Systems is planning to enhance additive manufacturing innovation through partnerships and launch of products. The company launched new 3-dimensional printing tools and collaborated with the U.K.-based startup Additive Manufacturing Technologies (AMT) to present novel 3-dimensional printing workflows and improve AM software, which is ideal for automotive components.
List of the Key Companies Profiled:
- 3D Systems Corporation (U.S.)
- The ExOne Company (Germany)
- voxeljet AG (Germany)
- Materialise NV (Belgium)
- Made in Space, Inc.
(U.S.) - Envisiontec, Inc. (Germany)
- Stratasys Ltd. (U.S.)
- HP, Inc. (U.S.)
- General Electric Company (GE Additive) (U.S.)
- Autodesk Inc. (U.S.)
KEY INDUSTRY DEVELOPMENTS:
- March 2022 – South Africa’s Department of Science and Innovation (DSI) launched a pilot project to build around 25 houses by utilizing 3D printing technology to combat the shortage of housing in the country.
- March 2022 – 3DGence, a European manufacturer, launched a new industrial FFF machine, INDUSTRY F421, which is well-suited with high performance materials. Additionally, the firm has also introduced AS9100, a new high-temperature filament, which is made using polyether ether ketone (PEEK) and certified for use in defense and aerospace sectors.
REPORT COVERAGE
An Infographic Representation of 3D Printing Market
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The global 3D printing market research report highlights leading regions across the world to offer a better understanding to the user.
Furthermore, the report provides insights into the latest industry growth trends and analyzes technologies that are being deployed at a rapid pace at the global level. It further offers drivers and restraints, helping the reader gain in-depth knowledge about the market.
REPORT SCOPE & SEGMENTATION
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD billion) |
Segmentation | By Component, Technology, Application, End-User, and Region |
By Component |
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By Technology |
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By Application |
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By End-User |
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By Region |
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S. (By Application)Three Areas Holding Back The $10.
6B 3D Printing IndustryMarket research firm SmarTech Analysis recently released its data for the additive manufacturing (AM) industry. It determined that, in 2021, the 3D printing sector reached $10.6 billion in revenue, excluding the revenues associated with hardware maintenance contracts and post-processing equipment. The firm further projects that AM is expected to grow to over $50 billion by 2030.
The 3D printing industry is projected to reach over $50 billion by 2030, according to one market ... [+] research firm.
Image courtesy of SmarTech Analysis.This growth is closely pinned to the trend that large manufacturers will increasingly use the technology for mass production. However, in order for AM to reach wide-scale adoption, it will need to advance significantly in three crucial and interrelated areas: throughput, factory integration, and quality control. Fortunately for the industry, these are all also issues that are being actively addressed.
3D Printing Throughput
Due to its roots as a prototyping technology, 3D printing was never designed with mass production in mind. Instead, its ability to create complex shapes has been limited to one-off parts or small batch manufacturing. For that reason, firms across the 3D printing industry have been working to develop systems that can make many parts as rapidly as possible, a concept known as throughput.
Among the leaders in this regard is HP, which spent years researching the technology before finally unveiling technologies capable of rapid production both in plastics and metals. The 2D printing giant has ported its expertise in inkjet printheads over to 3D printing with a technology called Multi Jet Fusion (MJF). MJF is already being used to produce large batches of polymer parts for everything from eyewear to grocery bots.
Legor Group in Italy is using HP Metal Jet to 3D print functional stainless steel accessories for ... [+] the jewelry and fashion markets.
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This is just the beginning for the company, which is now rolling out its Metal Jet technology. A form of what is called “metal binder jetting,” Metal Jet deposits a liquid binder onto metal powder, creating a component that must then be sintered in a furnace. Customers as large as Volkswagen are investing in the technology with a plan to mass produce up to 100,000 metal components annually for consumer vehicles.
However, HP isn’t the only company in this quickly evolving space. A widely publicized startup called Desktop Metal is working to speed up metal binder jetting. GE, too, is working on its own version of the technology. Altogether, these companies are ushering in an era in which low-cost metal powders can be used to 3D print large numbers of parts in a single job, potentially changing the cost structure for metal 3D printing altogether.
This means that they will be taking on the established leaders in metal 3D printing, which typically rely on zapping high powered laser beams at expensive metal powders.
These companies are working on increasing throughput, as well, by adding up to 12 lasers to their machines.
3D Printing Factories
While a fleet of 3D printers may be capable of manufacturing at volume, that doesn’t mean that they’ll necessarily fit into an existing factory operation. In large part, this is due to the fact that they lack mass production-level software.
Now, a handful of startups have emerged to take on the challenge of developing AM-specific software for manufacturing execution systems (MES). These tools make it possible to both manage a fleet of 3D printers and connect them to a company’s existing production software. They typically aid in the entire order-to-fabrication workflow. This means order quoting and tracking, print file preparation, print job monitoring and data collection, printer fleet queuing, quality control, and shipping.
MES software necessarily connects to a business’s existing software tools. This includes product lifecycle management (PLM), enterprise resource planning (ERP), and general IT software.
While PLM might include a company’s preferred 3D modeling software, ERP will be made up of everything from payroll programs to tools for tracking overall finances.
MES platforms are now working to take all of the software that a manufacturer might already be working with and inserting 3D printing into the mix. However, they’re not just limiting themselves to AM. Many MES developers are looking to connect with other production equipment, such as CNC machines. Then, with the help of machine learning, the entire workflow can be improved automatically as data from each order and each machine job feeds back into the work cycle. Artificial intelligence is significantly adding to the capabilities of MES software.
3D Printing Quality Control
Perhaps the biggest obstacle to widespread AM adoption is quality control. This is because, with additive, each part is distinct. Every point on the build platform may be slightly different and even the slightest variation in a printing parameter may change the microstructure of the printed object.
In turn, an object printed at one angle will not be the same as one printed at another. And, because parts are built up layer by layer, it is difficult to validate the internal geometries of an item once printing is complete. As a result, the only true way to assure the quality of a printed object is with a CT scan, typically a cost-prohibitive method for inspecting multitudes of parts.
Fortunately, not only are newer CT scanning systems with lower price tags coming onto the market, but there are other tools that are being used to ensure the quality of printed parts. Among them is computer simulation. Companies like ANSYS have developed software that can anticipate any defects that occur during the printing process and compensate for them. Hexagon is taking this one step further by predicting issues at the microscopic level.
Meanwhile, firms like Sigma Labs and Additive Assurance have created hardware to monitor the build chambers of metal 3D printers to detect errors.
Increasingly, these tools will enable active feedback so that the machines can quickly correct issues during the print process. When connected with MES software and 3D printing simulation, the equipment can learn from past errors and address them before they even happen in the future.
Altogether, these areas are advancing at incredible rates, in large part because manufacturers see the value in being able to produce objects from digital files on demand. As companies as large as Ford, GE, and Siemens look to 3D printing to produce quality end parts, they are driving the entire additive market to bend to their needs. To reach a whopping $50 billion by the end of the decade, the 3D printing industry has to be capable of making millions of parts for those customers.
Largest listed companies in the 3D printing sector
3D printing dates back to the late 1980s. At the end of 2018, the size of the 3D printing market, according to various estimates, reached from $9 trillion to $10 trillion.
Calculations were made based on the cost of producing printers, components and 3D printing.
In the coming years, expert agencies (IMARC, Inkwood Reasearch, Marketwatch, etc.) predict a steady growth of at least 20% per year. In this scenario, by the end of 2025, the scale of the entire 3D printing segment will reach at least $ 32 trillion - 3.5 times higher than the current values.
The outlook for the sector makes it attractive to investors. Consider the largest and most stable companies in this segment, whose shares can be considered for purchase and take their rightful place in your portfolio.
1. HP Inc Capitalization: $29.3 billion
HP manufactures computers, printers, tablets and a number of other devices. The release of 3D printers is not the main specialization of the company, but HP occupies one of the leading positions in the 3D printing segment. In 2014, the company developed the Multi Jet Fusion technology, which allowed to increase productivity and reduce the cost of professional (industrial) 3D printers.
The technology has been successfully applied in mass production of printers since 2016.
In 2017, HP opens the world's first 3D lab, equipped with printers in various build states and essential tools for device experimentation. The company has opened up the first opportunities to test new materials in 3D printers to increase efficiency.
In 2018, HP will open a joint manufacturing center with China's Guangdong in Guangdong, China, which is the largest such 3D printing project in Asia Pacific and Japan. The facility is equipped with ten high-tech next-generation HP Metal Jet printers to produce parts and prototypes for industrial customers.
2. Proto L abs (NYSE: PRLB). Capitalization: $2.56 billion
The company was founded in 1999 and has more than 10 production sites in seven countries. The head office is located in Minnesota. The company specializes in the production of parts for other manufacturing companies.
The corporation positions itself as the fastest in the world in the production of custom prototypes and finished parts for industrial customers. In 2014, Proto Labs launched 3D printed parts.
In addition to 3D printing, the company produces CNC (Computer Numerical Control) parts, injection molding and sheet metal parts. In 2015, Proto Labs bought Alphaform (specializing in innovative 3D printing) with divisions in Germany, Finland and the UK. This allowed the company to expand its 3D printing business in Europe. To diversify its business and introduce sheet metal manufacturing, the company acquired Rapid Manufacturing in 2017 for $120 million. 9 Systems ( NYSE: DDD). Capitalization: $1.01 billion
3D Systems was founded by inventor Chuck Hull in 1986 as the world's first 3D printing company. It produces 3D printers and components, including software, and also designs them. The company provides services at various stages of design, development and production of products for many large industries, including aerospace, automotive, medical, entertainment and other areas.
It should be noted that the corporation also works with retail consumers. Business diversification within the 3D segment makes the company financially stable.
3D Systems is headquartered in Rock Hill, South Carolina, USA. The number of employees of the company exceeds 2600 (as of the end of 2018), which is twice as high as five years ago.
4. Stratasys ( NASDAQ: SSYS). Capitalization: $0.98 billion
The company was founded in 1989 by Scott Crump. The technology was based on the idea of creating the shape of a figure by layering after Scott decided in 1988 to make a toy for his daughter using a gun filled with glue. At 1992 Stratasys released its first 3D Modeler product.
Today, Stratasys manufactures industrial and desktop 3D printers and related accessories. The range of services includes installation, maintenance and training in working with printers. The company serves various industries by developing technologies for the production of prototypes and parts.
The first public offering of Stratasys shares took place in 1994 at $5 per share and a total volume of $5.7 million. The head office is located in Minnesota.
5. Materialize Capitalization: $0.88 billion
Incorporated in 1990 in Leuven, Belgium, Materialise specializes in 3D printing services and 3D printer software. Like other leaders in this sector, Materialize works with various major manufacturers around the world (Adidas, HP), but a significant share of the business is in cooperation with medical centers and institutions. The company's portfolio includes more than 150 medical patents. Materialize offices are located in 18 countries, including one office located in the CIS in Ukraine.
Issuer Comparison
The most valuable company among the leaders is HP, which is due to the scale and diversification of the company's business in the entire technology segment. 3D Systems, Stratasys and Materialize specialize exclusively in the 3D printing segment, while their capitalization is on the same level.
Proto Labs has three businesses besides 3D printing and is in the middle of our list in terms of capitalization.
The most undervalued company in terms of EV/EBITDA is HP, but it is not correct to compare it with other issuers by this multiplier due to the differentiation of the company's products and services. 3D Systems has the highest EV/EBITDA, and from this point of view, the paper is not so attractive to buy. Moreover, over the past four years, 3D Systems shares have been in a stable sideways trend without technical prerequisites for growth.
The remaining three companies, in our opinion, may be of interest. At the same time, if your long-term goal is to get the maximum increase from the growth of the 3D printing sector, then investing in HP shares is less preferable compared to other securities. After all, the reaction of the shares of companies with a direct specialization is more sensitive to changes in the sector. Below are the consensus forecasts of investment houses according to Reuters, according to which Stratasys (14.
9%) and Materialize (13.6%) shares have the greatest potential now.
HP Inc (NYSE: HPQ): $20.5 (+3.4%)
Proto Labs (NYSE: PRLB): $98.7 (+3.0%)
3D Systems (NYSE: DDD): $8 .6 (+0.6%)
Stratasys (NASDAQ: SSYS): $20.8 (+14.9%)
Materialize (NASDAQ: MLTS): $19.2 (+13.6%)
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3D printing market growth will exceed expectations in several sectors at once
MTK
According to the results of the new study Frost & SULLIVAN , the share of the three-dimensional printing market will grow by 40% by the end of the year
The market is shifted towards personal print and small-scale production
- 3 printing is increasingly used in healthcare and consumer products
- 3D printing delivers high quality and personalization
3D printing technology opens up enormous possibilities beyond traditional prototyping.
A huge number of objects can be printed on a 3D printer, from a cell phone case to human organs. Due to the increased popularity and wide range of uses of this technology, 3D printing market share is predicted to grow by 40% in 2015.
According to new research from Frost & Sullivan « Technologies 3 D -Printing in nine dimensions ”(3 D Printing Technology -9 DIMENSMENT , observance, observance for personal printing and small-scale production. Industries such as the automotive and aerospace industries have been using 3D printing technology for years. However, there are ample opportunities for 3D printers in the consumer goods and healthcare sectors.
“3D printing offers significant performance and quality benefits. Such a result cannot be obtained with traditional production, says an analyst in the department of technology research, Frost & Sullivan.
“As a result, organizations are looking to use different approaches to expand the scope of 3D printing. This trend is especially evident in Asia and North America.”
At the same time, the expediency of using this technology for large-scale production systems and the production of physical objects has not yet been fully substantiated. The initial cost of implementing a prototyping service is quite high considering the high initial investment and relatively small production volumes.
Despite this, companies in the 3D printing value chain can benefit from a reduction in the number of tools and processes, which in turn will reduce costs. In addition, it will help to significantly reduce inventory and lead times. For manufacturing companies, this is an important factor.
“The 3D printing market has huge potential. Funding volumes are growing, an ecosystem is being formed,” adds the analyst. "The participation of professional associations, research organizations, universities, start-ups and large companies in the development of 3D printing technologies will contribute to the rapid dissemination and commercialization of 3D printing technology, products and services related to it, on a global scale.
