The global Digital Fabrication Market is estimated to be valued at US$ 38.01 Bn in 2023 and is expected to exhibit a CAGR of 30% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Digital fabrication involves the use of computer-controlled tools and machines to precisely fabricate three-dimensional geometries from digital design files. This includes 3D printing and computer numerical control (CNC) machining. The products enable engineers and designers to convert their digital designs into precise component prototypes. Some of the key advantages are reduction in lead time and waste, flexibility to make design changes, and ability to produce complex geometries that are difficult to fabricate through conventional manufacturing means.
Market Overview:
Digital fabrication uses digital designs to fabricate components through additive and subtractive processes. The key trends in this market include growing adoption of 3D printing across industries for rapid prototyping and manufacturing applications as well as increased demand for CNC machines from aerospace, automotive, and medical device industries.
Market key trends:
One of the major trends driving growth in the digital fabrication market is the emergence and increasing adoption of digital manufacturing technologies across industries. This enables distributed and personalized manufacturing by leveraging Internet of Things (IoT) and cloud-based technologies. With digital manufacturing taking precedence over traditional manufacturing methods, there is growing demand for automated, data-driven and software-defined manufacturing enabled by digital fabrication technologies. The ability to design, simulate, and manufacture complex products digitally within shortened time frames is fueling replacement of conventional subtractive machining by additive manufacturing technologies. Transition towards Industry 4.0 is also propelling demand for digitally interconnected manufacturing infrastructure incorporating technologies like 3D printing, robotics and internet of things (IoT).
Segment Analysis
The global digital fabrication market is segmented based on offering, process, and industry vertical. Based on offering, the market is segmented into software, 3D printers, and services. The 3D printers segment is expected to dominate the market during the forecast period. 3D printers enable faster production, higher precision, and lower production costs compared to traditional manufacturing techniques. They also provide more flexibility and reduce wastage.
Key Takeaways
The global Digital Fabrication Market Share is expected to witness high growth, exhibiting a CAGR of 30% over the forecast period, due to increasing customization needs of end users and reduced production costs offered by digital fabrication technologies.
The North American region dominates the global market currently and is expected to maintain its dominance over the forecast period. Growth in the automotive, industrial machinery and aerospace & defense industries is driving increased adoption of digital fabrication technologies in the region.
By 2030, Asia Pacific region is projected to be the fastest growing market for digital fabrication, owing to rapid industrialization, rising investments in manufacturing sector and emergence of small and medium enterprises in countries like China and India.
Key players operating in the digital fabrication market are Stratasys Ltd., 3D Systems Corporation, HP Inc., General Electric Company, Materialise NV, Proto Labs Inc., Voxeljet AG, ExOne Company, Autodesk Inc., Siemens AG, EOS GmbH, Renishaw plc, SLM Solutions Group AG, Carbon Inc., and Desktop Metal Inc. Strategic partnerships and new product launches have enabled key players to increase their market share in the global market.
Read More,
https://www.insightprobing.com/digital-fabrication-market-trends-size-and-share-analysis/
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