3D Printing Services Global Market Report 2021: COVID 19 Growth And Change to 2030

3D Printing Services Global Market Report 2021: COVID 19 Growth And Change to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6070208 •
  • Format: PDF
Major players in the 3D Printing service market are 3D Systems Corporation, Stratasys, Materialise NV, ExOne, Arcam, ProtoLabs – 3D Rapid Prototyping Company, HP Inc., SLM Solutions Group and ARC Group Worldwide.

The global 3d printing services market is expected 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%.

The 3D Printing service market consists of services provided by 3D printing service providers to companies in any of the forms of 3D printed parts, rapid prototyping, components produced by 3D printers, and related services such as software upgrades and maintenance.

Reduction in manufacturing cost and process downtime contributed to the growth of the 3D printing services market. 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. Ultimaker, one of the global leaders in desktop 3D printing, launched Ultimaker Cloud platform in TCT Asia 2019 event in China. It will form a crucial platform solution with capabilities to simplify the user workflow ensuring compatibility with a wide variety of software applications and materials.
In December 2020, Stratasys Ltd., an American-Israeli manufacturer of 3D printers and 3D production systems, signed an agreement to acquire 3D printing start-up Origin Inc. for total consideration of up to $100 million, including cash and stock. The acquisition will enable Stratasys to use Origin’s photopolymer platform and extensive materials ecosystem to expand into the mass production parts segment with a next-generation photopolymer platform.