Global 3D Desktop Printer Market 2020-2024 | 37% CAGR Projection Through 2023 | Technavio

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.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

• Geographic comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Vendor classification
• Market positioning of vendors

About Technavio

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.