Digital fabrication, also known as direct digital manufacturing, involves the use of computer-controlled tools and equipment to create physical objects directly from digital 3D models or other digital designs. Products created through digital fabrication methods such as 3D printing help reduce material waste and provide precise, durable, and customized solutions.
The global Digital Fabrication Market is estimated to be valued at US$ 21.68 billion in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological advancements are playing a key role in accelerating the growth of the digital fabrication market. The integration of AI and machine learning with 3D printing is enabling the creation of self-adjusting and self-learning fabrication systems that optimize production outputs in real-time. Additionally, advancements such as multi-material 3D printing allow for the creation of products with components featuring varied mechanical properties within the same structure. Such technological progress enhances design capabilities and enables the rapid production of products customized as per specific application needs, thereby increasing the adoption of digital fabrication methods across diverse end-use industries.
Segment Analysis
The global digital fabrication market size is fragmented with several segments. 3D printing segment held the largest share of over 35% in 2019 due to its wide applications in prototyping, tooling and manufacturing across industries. Additive manufacturing sub-segment dominated the 3D printing segment owing to advantages such as design flexibility, complex part production and reduced material wastage.
Key Takeaways
The global digital fabrication market is expected to witness high growth driven by rapid adoption of additive manufacturing across industries.
Regional analysis: North America accounted for the largest share in the global digital fabrication market in 2019. The growth in the region is attributed to presence of major players and early adoption of cutting edge technologies by industries in the US and Canada. Asia Pacific is poised to grow at the fastest pace during the forecast period led by countries such as China and India. Increasing investments by governments and companies in advanced manufacturing and strong economic growth are fueling the demand.
Key players operating in the digital fabrication market are Stratasys, 3D Systems, Materialise NV, GE Additive, HP, Voxeljet, ExOne, Optomec, Autodesk, Carbon and Desktop Metal. Stratasys dominated the market in 2019 owing to its broad 3D printing portfolio and global sales network. 3D Systems has established strong presence across industries through its diversified product offerings in both polymer and metals 3D printing.
Explore Our More Blogs Here: https://www.newsstatix.com/digital-fabrication-market-share-and-opportunity-analysis/
Explore more trending article on this topic: https://whotimes.com/golden-crunch-symphony-crafting-harmony-in-every-spoonful-of-wholesome-granola-bliss/
Comments
0 comment