Global 3D Printing Services Market Growth Rate
The global 3D printing services market is expected to decline from $5.49 billion in 2019 to $5.28 billion in 2020 at a rate of -3.87%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $10.45 billion in 2023 at a rate of 25.57%. Reduction in manufacturing costs and process downtime has increased demand for the 3D printing services market. However, intellectual property on printing anything which has property rights issues is considered unauthorized and is subject to an act of patent infringement. This factor hampers the growth of 3D printing service market growth.
The 3D printing service market consists of services provided by 3D printing service providers to companies in any of the forms of 3D printed parts, rapid prototyping, components produced by 3D printers, and related services such as software upgrades and maintenance.
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The global 3D printing services market is further segmented based on type and geography.
By Service Offering: Tooling; Parts production; Software services; System maintenance; Expert service
By End user: Consumer products; Automotive; Healthcare; Aerospace & defense
By Geography: The global 3D printing services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American 3D printing services market accounts for the largest share in the global 3D printing services market.
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Trends In The 3D Printing Services Market
3D printing services providers are implementing Cloud-based 3D printing services. Cloud-based 3D printing management platforms can be used by any individual, enterprises, schools, and service bureaus to render, fix, store 3D design securely and stream 3D design to the 3D printer with complete data tracking and analytics.
3D Printing Services Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides 3D printing services market overviews, analyzes and forecasts 3D printing services market size and growth for the global 3D printing services market, 3D printing services market share, 3D printing services market players, 3D printing services market size, 3D printing services market segments and geographies, 3D printing services market trends, 3D printing services market drivers and 3D printing services market restraints, 3D printing services market’s leading competitors’ revenues, profiles and market shares. The 3D printing services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.