Global Market for 3D Printing Software to Reach $2.1 Billion by 2023

October 29, 2018

WELLESLEY, Mass., October 29, 2018 – Due to expressed interest from the aerospace and defense, automotive, healthcare and fashion industries, the global market for 3D printing software has reached new heights, according to a report from BCC Research.

During 2017, the global market for 3D printing software was worth $655.4 million. However, BCC Research estimates that it will reach a value of $2.1 billion by 2023, indicating a compound annual growth rate (CAGR) of 22.2%, according to 3D Printing Software: Global Markets to 2023.

Some of the best-known modeling software includes SketchUp, FreeCAD, Blender and AutoCAD. Slicing software includes 3D Slash, Simplify3D, 123D Catch and Tinkercad. The convenience of creating various objects through 3D models has surged the demand for 3D printing.

Research Highlights

  • Factors such as lack of expertise, skills and knowledge are hurdles for the 3D printing software market.
  • Key market participants include Autodesk Inc. (ADSK), 3D systems (DDD), Dassault Systemes (DASTY) and Materialise NV (MTLS).
  • Start-up vendors entering into the market provide end-users with more innovative and cost-effective software. This is expected to fuel the growth of the 3D printing software market during the forecast period.

“3D printing is a revolutionary technology that will change the future with its limitless capabilities,” the report notes. “Despite significant growth, there is untapped potential in the 3D printing market. There is also an enormous opportunity for companies and technology adopters to move beyond prototyping. 3D printing can support production and attain new manufacturing efficiencies. In the coming years, the business of 3D printing and software is expected to surge at an increasing rate.”

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3D Printing Software: Global Markets to 2023( IFT167A )
Publish Date: Sep 2018    

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