The “3D Printing Software Market – Forecasts from 2021 to 2026”report has been added to ResearchAndMarkets.com’s offering.
The 3D printing software market is projected to grow at a CAGR of 21.65% to reach US$6.415 billion by 2026. 3D printing software is an innovative method of product development. It uses digital software such as CAD to design several thin layers before sending them to the 3D printer.
The growth of the 3D printing software market is attributed to significant growth in the demand for 3D printers for numerous end-user industries such as automotive, healthcare, and construction among others. Software components are necessary for the running of systems and solutions for the printing of objects, so the growth in the demand for 3D printers is the major driver for the growth of the 3D printing software market.
The 3D printers have benefits such as low cost, less manufacturing time, reduced material wastage, etc. which are encouraging industries such as automotive and aerospace to actively use them in their processes which will subsequently surge the demand for 3D printing software in the market. The increased public and private spending on these industries will fuel the market demand for 3D printing software during the forecast period.
Moreover, the market driver for the 3D printing software market is the rise in the demand for desktop printing, nationwide. The 3D printing software allows manufacturers to print customized objects depending on their customer’s needs which is further driving the market growth.
Furthermore, the shift from prototyping to functional manufacturing in industries such as automotive, healthcare, aerospace, and defence, etc. has increased the requirement for 3D printing software in the market. Also, the growing investments in the research and development of this software will further strengthen the market growth in the next few years.
Market Segmentation and Trends
By end-user industries, the healthcare and automotive industry account for the dominant market share owing to the excessive use of 3D printing in the industries for multiple applications. The aerospace and defense industry is also projected to grow at a high CAGR due to the increased spending in the sector. Geographically, North America is expected to hold the dominating share in the market on account of well-developed infrastructure and high adoption of the latest technology. The Asia Pacific will hold a notable market share owing to the flourishing industries such as automotive, and healthcare in the region, especially in countries such as India and China.
Growing use in the automotive and healthcare industry
The major key driver of the 3D printing software market is the increasing use in the automotive and healthcare industry. Automotive OEM manufacturers use 3D printing software for rapid prototyping. The extensive use of 3D printing software for multiple applications in the automotive industry will drive market growth during the forecast period.
High costs and limited availability
The costs associated with 3D printing software are very high owing to the specialized features of the printing. Due to the high costs many small and medium market players might be unable to adopt this technology, which may restrain the market growth during the forecast period. Also, the software is not developed in abundance due to which they are available in limited numbers so might not reach all the end-user industries, which may further restrict the market growth.
Impact Of COVID-19 On The 3d Printing Software Market
The Covid-19 pandemic negatively impacted the 3D printing software market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the business operations of many industries such as automotive, aerospace, healthcare, etc. were put to a halt which in turn declined the demand for 3D printing material in 2020 as the industries suffered huge losses. However, the surging demand for this software in the healthcare industry globally balanced the market growth.
The market leaders for the 3D printing software consist of 3D Slash, Autodesk, Inc., Trimble Inc., Blender, Dassault Systemes SolidWorks Corporation, DesignSpark Mechanical, 3D Systems, SLM Solutions Group AG, and Optomec, Inc. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
5. 3D Printing Software Market Analysis, By Type
5.2. CAD Tools
6.3D Printing Software Market Analysis, By End-Use Industry
6.4. Aerospace and Defense
7. 3D Printing Software Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. the Middle East and Africa
7.5.1. Saudi Arabia
7.6. the Asia Pacific
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
9.1. 3D Slash
9.2. Autodesk, Inc.
9.3. Trimble Inc.
9.5. Dassault Systemes SolidWorks Corporation
9.6. DesignSpark Mechanical
9.7. 3D Systems
9.8. SLM Solutions Group AG
9.9. Optomec, Inc.