CHICAGO, November 5, 2018
CHICAGO, November 5, 2018 /PRNewswire/ --
According to the new research report "Automated 3D Printing Market by Offering (Hardware, Software, and Services), Process (Material Handling, Automated Production, Part Handling, Post-Processing, and Multiprocessing), End User (Aerospace & Defense, Healthcare), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the automated 3D printing market is projected to reach USD 1,793 million by 2023 from USD 196 million by 2018, at a CAGR of 55.65%. Major drivers for the market growth are the increased focus on efficiency and cost of production, growth in adoption of robotics for industrial automation, and growing need to automate post-processing. The major restraint for the market is the high cost of installation of automation equipment.
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Hardware to hold largest size of automated 3D printing market during forecast period
Hardware is expected to hold the largest share for automated 3D printing market based on offering. Among the types of hardware, the adoption of robots is proving to be beneficial for the companies to achieve complete automation. The end users are introducing robots in their 3D printing processes for significant transformation in terms of increased productivity and efficiency, leading to higher levels of output, product quality, and flexibility. The robots are used to automate the 3D printing processes, and their adoption is increasing in automated 3D printing as they are easily programmable and can perform the tasks at an accelerated pace. Major companies such as Voodoo Manufacturing and Universal Robot are investing heavily on the robots.
Automated 3D printing market for multiprocessing to grow at highest CAGR during forecast period
Of all the processes, the market for multiprocessing is expected to grow at the highest CAGR during 2018-2023. The multiprocessing 3D printing leads to an increase in component functionality. It is an additive manufacturing process enhanced with the complementary processes, such as machining, cutting, dispensing, and robotic placement. This increases the adoption of automation in the 3D printing for multiprocessing.
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North America to hold largest size of automated 3D printing market during forecast period
North America is expected to dominate the automated 3D printing market, with the largest share, during 2018-2023. North America has been receptive to the 3D printing procedures since its early days. The presence of the well-established 3D printing solutions providers supports the increasing the automation of 3D printing system to improve efficiency and speed. The university grants provided by the federal government to develop 3D printing labs and technologies also drive the growth of the automated 3D printing market in this region.
Key players in the automated 3D printing market include Stratasys (Israel), ExOne(US), 3D Systems (US), Materialise (Belgium), Universal Robot (Denmark), Formlabs (US), EOS GmbH (Germany), SLM Solutions (Germany), Concept Laser (Germany), Coobx (Liechtenstein), Authentise (US), Renishaw (UK), NVBOTS (US), PostProcess Technologies (US), and DWS System (Italy).
3D Printing Market by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, and Geography - Global Forecast to 2023.
Industrial 3D Printing Market by Offering (Printers, Materials, Services, Software), Application (Tooling, Heavy Equipment & Machinery, Robotics), Process, Technology, Industry (Aerospace & Defense, Automotive), and Geography - Global Forecast to 2023
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