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Global Automated 3D Printing Market Outlook to 2023
December 11, 2018 | PRNewswireEstimated reading time: 1 minute
The automated 3D printing market is projected to reach $1.79 billion by 2023 from $196 million by 2018, at a CAGR of 55.65%.
Growth of this market is largely attributed to factors such as the increased focus on efficiency and cost of production, growth in adoption of robotics for industrial automation, and growing need to automate post-processing. However, the high cost of installation of automation equipment is expected to restrict the growth of the said market.
The automated 3D printing market for hardware is expected to grow at the highest CAGR during the forecast period. Among the hardware types, the adoption of robots is proving to be beneficial for the companies to achieve complete automation. The end users are introducing robots in their 3D printing processes for significant transformation in terms of increased productivity and efficiency, leading to higher levels of output, product quality, and flexibility. These benefits are propelling the adoption of automation hardware in the 3D printing processes.
The automated 3D printing market for industrial manufacturing, high-tech equipment, and engineering is expected to register the highest growth during the forecast period. For these end users, additive manufacturing provides new solutions for the low-volume production of different parts, with a new tool-less and cost-effective production method. The group of equipment used in these applications is highly efficient in terms of time and cost. Hence, the automation of 3D printing in this end-user segment is more than that in other end-user segments.
APAC is an economically growing region owing to the presence of technologically strong countries such as China and Japan. The majority of the world's consumer goods and electronics are manufactured in APAC, particularly in China and Taiwan. The economic and manufacturing process of China, supported by tiger economies, are expected to facilitate the transformation of the small batch production capabilities into large batch production capabilities in APAC.
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