Digital Fabrication Market Growth Accelerated by Technological Advancements
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.
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