Software

3D printing Software and Services Market Size Worth USD 9,571.6 Million by 2027, With a CAGR of 14.3%, Market trends – Growing demand from the medical and consumer goods industry

By Adriaan Brits

Posted on September 29, 2022

Investment by the government in 3D printing projects and reduction in manufacturing costs, along with process downtime, will drive market demand.

According to recent research by Emergen Research, the global 3D printing software & services market is expected to be worth USD 9,571.6 Million by 2027. The need for 3D printing software and services is increasing as more consumer goods, automobiles, and medical devices, among other things, are being produced using this technology. The ability to construct incredibly complicated customized designs and the ability to manufacture products more easily are driving market expansion.

With automation becoming commonplace in the manufacturing sectors, the market is transforming the sector. Manufacturing firms will invest more money in it since technology lowers costs by requiring less labor and enables local production of goods.

The term “additive manufacturing” is frequently used to describe the use of 3D printing in industrial applications (AM). With the aid of software and a 3-dimensional printer, additive manufacturing involves adding material layer by layer to create an object from a three-dimensional file. To carry out the process, a pertinent 3D printing technology is chosen from the pool of options. The final step entails implementing this procedure across many industry verticals as necessary.

The deployment comprises resolving copyright, licensing, and patenting-related issues as well as supplying installation services, consultation solutions, and customer support. In terms of prototyping, designing the structure and final goods, modeling, and speed to market, 3D printing is advantageous for manufacturers.

However, the adoption of additive manufacturing is being hampered by the widespread misunderstandings small and medium-sized firms have about prototype procedures. Instead of attempting to comprehend the advantages and benefits of prototyping, businesses engaged in the design, particularly small and medium-sized businesses, are hesitating before considering expenditures in prototyping as responsible investments. These businesses generally hold the belief that a prototype is only an expensive step before manufacturing. Such misconceptions about the prototypes, in addition to a lack of technical expertise and an impending lack of standardized process controls, are anticipated to restrain industry expansion.

Key participants include

3D Systems, Stratasys, GE Additive, EOS GmbH, Voxeljet, SLM Solutions, Hewlett Packard, Optomec, Autodesk, and Protolabs, among others.

Printer Type Information

In 2021, the industrial printer sector dominated the market and generated more than 70.0% of total revenue. The market has been further divided into industrial and desktop 3D printers based on the printer type. The widespread use of industrial printers in heavy industries including automotive, electronics, aerospace and defense, and healthcare can be blamed for the significant market share of industrial 3D printers. Some of the most popular industrial applications across these industry verticals include prototyping, designing, and tooling.

Technology Perspectives

In 2021, the stereolithography market segment held the top spot and contributed more than 8.0% of worldwide revenue. The segmentation has been done based on technology and includes stereolithography, fuse deposition modeling (FDM), direct metal laser sintering (DMLS), selective laser sintering (SLS), inkjet, polyjet, laser metal deposition, electron beam melting (EBM), digital light processing, laminated object manufacturing, and others.

One of the earliest and most widely used printing processes is stereolithography. Although the benefits and ease of use of stereolithography technology are promoting its adoption, technological advancements and aggressive research and development activities carried out by industry experts and researchers are creating opportunities for several other effective and dependable technologies.

Software Insights

In 2021, the design software market was in the first place and contributed more than 30% of worldwide revenue. Throughout the length of the forecast, it is anticipated to keep ruling the market. The 3DP industry has been divided into design software, inspection software, printer software, and scanning software based on the type of software used. Particularly in the automotive, aerospace and military, construction, and engineering verticals, design software is utilized to create the designs of the thing to be printed. The hardware of the printer is connected to the objects that will be printed via design software

The growing practice of scanning items and saving scanned papers is expected to increase demand for scanning software.

Application Perspectives

In 2021, the prototyping market segment held the top spot and accounted for more than 55.0% of worldwide revenue. The industry has been further divided into a prototype, tooling, and functional components based on application. This is explained by the widespread use of the prototype process in several industry sectors. Prototyping is used extensively in the automotive, aerospace, and defense industries to precisely design and build parts, components, and complex systems.

Some of the Report’s Important Highlights

Stratasys announced the introduction of Work Order Management Software for 3D printing workshops in November 2019.
Implants, scaffolds, surgical equipment, and prostheses are all made in the medical industry using 3D printing software and services. The industry is being driven by the rising demand for cutting-edge medical equipment and prosthetics.
The development of digital fabrication has reduced the time and cost of 3D prototyping. For the prototype application, a range of materials can be employed, including affordable PLA, robust nylon, impact-resistant ABS, and others. During the projection period, the prototyping application category is anticipated to expand at a considerable CAGR.
Benefits related to the demand for new vehicles with enhanced performance, manufacturing optimization, and supply chains & logistics restructuring for a more efficient operation are provided by 3D printing software & services in the automobile sector. Aside from its popular use for rapid prototyping, 3D printing is also employed for the production of tooling and, in some situations, end parts.
The market for 3D printing software and services was led by North America in 2019, and the US has the product’s highest adoption rate. There are numerous small- and medium-sized manufacturers in the area. Demand for the product is being fueled by the existence of a developed market for 3D printing software and services as well as by the adoption of cutting-edge technology. In 2019, the area had a market share of 36.5%.

For this report, Emergen Research has segmented into the global 3D printing Software & Services Market based on component, process, application, industry verticals, technology, and region:

Component Outlook (Revenue, USD Billion; 2017-2027)