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Technavio has announced its latest market research report titled global 3D printer market 2020-2024. (Graphic: Business Wire)
The market is driven by the increasing demand for 3D customized products. In addition, the growing demand for new materials is anticipated to boost the growth of the 3D printer market.
Consumers are expressing great interest in customized 3D products. They are either placing orders for such products with market vendors or purchasing desktop 3D printers, which enable users to design and develop 3D printed products in-house. Moreover, with desktop 3D printers becoming more affordable, consumers are willing to invest in 3D printers and print toys and home décor products. In addition, industry professionals are also actively investing in 3D printers to develop customized products and deliver to the customers’ expectations and increase profits. For instance, Shapeways is a 3D printing marketplace that provides customized 3D products, ranging from jewellery to miniatures based on consumer needs and requirements. Hence, the increasing demand for 3D customized products will drive the growth of the market during the forecast period.
3D Systems Corp. has business operations under three divisions namely products, materials, and services. Under its product segment, the company offers a range of 3D printers, print materials, software, haptic devices, scanners, and virtual surgical simulators. The company offers 3D printers to various industries such as aerospace and defense, automobile, healthcare, dental, and entertainment. Products include ProJet MJP 5600, ProJet MJP 3600 series, and ProX DMP 320.
EOS GmbH Electro Optical Systems operates its business through various segments, which include plastics, materials, EOS software, and EOS services. EOS offers 3D printers for industries such as aerospace and automobile. Products include FORMIGA P 110, EOS P 386, and EOS P 500. These products are made up of superior quality materials which include PA 2200/2201, PA 2202, and PA 1101.
HP Inc. has business operations under three segments comprising of personal systems, printing, and corporate investments. The company offers a wide range of 3D printing solutions and applications, related to functional prototyping, manufacturing aids, and final part production. In May 2019, the company expanded the partnership with Materialise NV (Materialise) to advance the development of industrial-scale 3D printing, including the integration of Materialise’s software with the company’s Jet Fusion 3D printing solutions.
Materialise NV has business operations under various segments, such as Materialise medical, Materialise manufacturing, and Materialise Software. The company offers 3D Print Barometer that provides 3D printing with handheld vacuum blaster, housing for optical scanner, and gripper for packaging robots.
Proto Labs Inc. runs its business operations through four segments, namely injection molding, CNC machining, 3D printing, and sheet metal. The company offers a wide range of 3D printer processes such as Direct Metal Laser Sintering, Stereolithography, Carbon DLS, Multi Jet Fusion, Selective Laser Sintering, and PolyJet.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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