Published Date: 31-Jul-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Desktop 3D Printing Market size is expected to reach $7.1 billion by 2028, rising at a market growth of 19.2% CAGR during the forecast period.
The Functional Parts segment acquired maximum revenue share in the Global Desktop 3D Printing Market by Application in 2021 thereby, achieving a market value of $3.1 billion by 2028. The growth can be attributed to the rising need for designing & producing functional parts. It is possible to create anything with 3D printing, from desk accessories to decorations & functional parts. Functional parts include smaller joints & other connecting metallic hardware.
The Education segment has shown growth rate of 20% during (2022 - 2028). The use of 3D printing in education helps students and teachers learn more effectively, enhance their abilities, and become more interested in the subject matter. Additionally, 3D printing encourages increased cooperation and creativity in problem-solving. Due to these factors, the demand for desktop 3D printers is rising in the education sector.
The Digital Light Processing segment is generating highest revenue share in the Global Desktop 3D Printing Market by Technology in 2021 thereby, achieving a market value of $1.8 billion by 2028. The demand for intricate & minutely detailed parts and jewelry has expanded the use of digital light processing in a number of different industry sectors. Similar to stereolithography, digital light processing uses a safelight (light bulb) to cure the photopolymer resin rather than a UV laser.
The Software segment is showcasing a CAGR of 19.4% during (2022 - 2028). The requirement for effective project & production management automation for 3D printing has enhanced the segment's growth. Software plays a major role in each step of the production process in 3D printing. The program can offer real-time production data and insights in addition to automating production tasks like build preparation and machine scheduling.
The Plastic segment is leading the Global Desktop 3D Printing Market by Material in 2021 thereby, achieving a market value of $3.9 billion by 2028. The highly flexible manufacturing characteristics of plastic have raised the demand for it as a material for 3D-printed moulds. Plastic is appropriate for many extrusion operations, is relatively inexpensive, and is easily accessible.
The North America market dominated the Global Desktop 3D Printing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.4 billion by 2028. The Europe market is exhibiting a CAGR of 18.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 19.6% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Dassault Systèmes SE, 3D Systems Corporation, Autodesk, Inc., Canon, Inc., Materialise NV, EnvisionTec, Inc. (Desktop Metal, Inc.), Voxeljet AG, Stratasys, Ltd., Proto lab, Inc., and Shapeways, Inc.
Unique Offerings from KBV Research