3D-Printing Software and Services Market to Reach $4.52 Billion by 2021
A new market-research report from Research and Markets forecasts that the global 3D-printing software and services market will reach $4.52 billion by 2021.
According to Research and Markets, with the emergence of new software for design/modeling, data preparation, simulation and machine control (which includes slicing software), there’s a wide range of opportunities arriving in the 3D-printing industry for designing 3D-printed objects.
The firm forecasts that the global 3D-printing software and services market will achieve a CAGR (compound annual growth rate) of 25.2 percent between 2017 and 2021. It attributes this growth to the increasing demand from various end-user application verticals such as those in healthcare, consumer products, automotive industry, fashion and aesthetics industry, aerospace and defense industry, education, and architecture, among others.
3D-Printing Services Bring 3D Printing to Smaller Companies
Manufacturers, designers, artisans, and individuals are said to be harnessing 3D printing and mass production to create objects for numerous applications. 3D-printing companies have responded with 3D-printing services that provide technologies catering to a wide range of uses. Their ultimate goal is to help clients use the technology without investing substantial time and money into researching 3D-design principles and 3D-printing technologies for a particular business.
While most consumer 3D printers can be purchased for $1,000 or less, the cost of commercial 3D printers that offer the precision and build quality that many businesses need, can be as high as thousands of dollars. Hence, the current trend is that many of the small businesses are opting for 3D-printing services, which enable them to upload the design they need, and get the 3D-printed products constructed by a 3D printing service provider at a substantially low cost. In other words, service bureaus that 3D print objects on demand provide a way for smaller companies to rapidly prototype without having to invest large sums up front. Currently, most of the companies are providing print-on-demand services for various applications such as rapid prototyping, concept modeling, and the creation of custom parts. The consumer base in this category includes hobbyists, academic institutions, research institutions, etc.
For more information on the report, Analysis and Forecast (2017 to 2021) Focus on Software Market (3D Designing, Data Preparation), Services Market, by Type (Print on Demand, After Sales & Maintenance), by Material (Photopolymer, Ceramic), by Technology (Metal Extrusion, Power Bed Fusion), visit Research and Markets here.
The report is a compilation of different segments of the global 3D-printing software and services market including market breakdown by software type, service type, service by material used, service by technology, service by application, service by end-user industry and geographical location. It also includes sections on competitive insights and market dynamics.