LONDON--(BUSINESS WIRE)--The global 3D desktop printer market is expected to post a CAGR of almost 37% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Manufacturers rely highly on rapid prototyping as it is crucial in the development process. It allows them to develop designs in a quicker, efficient, and cost-effective manner. The integration of advanced technologies such as 3D printing accelerates the prototyping of various products, helping designers save time in the development process. The growing need for quick and customized product designs is accelerating the integration of 3D printing in rapid prototyping. This will have a positive influence on the growth of the global 3D desktop printer market during the forecast period.
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As per Technavio, the expansion of 3D printing in direct digital manufacturing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global 3D Desktop Printer Market: Expansion of 3D Printing in Direct Digital Manufacturing (DDM)
Integrating 3D printing with DDM helps manufacturers predict lead time and cost for various products. It reduces several management and budgeting challenges and enables designers to adopt new technologies in their production and assembly processes. It also helps designers transfer new designs to a manufacturing facility without the need for retooling. This simplifies the process of prototyping. Many such benefits offered by the integration of 3D printing with DDM are encouraging manufacturers to adopt 3D desktop printers. This trend is expected to boost the growth of the market during the forecast period.
“Rise in the demand for 3D printing technologies by evolving SMEs and increasing product launches will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global 3D Desktop Printer Market: Segmentation Analysis
This market report segments the global 3D desktop printer market by geography (APAC, Europe, MEA, North America, and South America) and technology (FDM, SLS, SLA, and others).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to increasing investments in IT and digitalization among enterprises and start-ups in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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