Digital fabrication is an automated and digitally controlled production using 3D printing and other additive manufacturing technologies. It allows fabrication of objects from a digital file. Unlike traditional manufacturing, digital fabrication produces little or no waste and gives designers and engineers greater creative freedom. The global Digital Fabrication Market provides fabrication solutions for various industries including automotive, medical, consumer products, aerospace, construction, and military. 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.
Market key trends:
3D Printing has enabled mass customization of products in the digital fabrication market. Using 3D printing, manufacturers can produce customized designs and products on-demand without the need for tooling or setup costs. This has revolutionized how products are designed, manufactured and distributed. 3D printing allows for personalization at scale which is driving demand from various end-use industries. Growth of 3D printing is expected to be a major driver for the digital fabrication market during the forecast period. Manufacturers are increasingly adopting 3D printing technology for rapid prototyping as well as production of final parts which is supporting the market growth.
SWOT Analysis
Strength: The digital fabrication market has grown significantly over the past few years owing to technologies like 3D printing enabling high production flexibility and reduced development time.
Weakness: High capital requirement for setting up digital fabrication units and the availability of substitutes like CNC and injection molding are key weaknesses.
Opportunity: The growing demand from industries like automotive, aerospace and healthcare due to their requirement of customized, complex and lightweight parts offers significant opportunities.
Threats: stringent regulatory norms around material selection and evolving 3D printing technologies threatening existing technologies pose major threats.
Key Takeaways
The Global Digital Fabrication Market Size is expected to witness high growth over the forecast period driven by increasing adoption across industries. The automotive industry dominates regional usage with digital fabrication helping produce complex geometries, reducing lead times and costs. North America currently captures over 35% share due to strong government funding and presence of major players like Stratasys and 3D Systems in the region.
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., Desktop Metal Inc. Stratasys and 3D Systems have been dominating for decades with a wide material and technology portfolio while new players are focusing on niche segments and specific applications.
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