DUBLIN, October 26, 2021 / PRNewswire / – The “3D Printing Software Market – Forecast 2021-2026” report has been added to ResearchAndMarkets.com offer.
3D printing software market is expected to grow at a CAGR of 21.65% to reach 6.415 billion US dollars by 2026. 3D printing software is an innovative method of product development. It uses digital software such as CAD to design multiple thin layers before sending them to the 3D printer.
The growth of the 3D printing software market is attributed to a significant growth in the demand for 3D printers for many end user industries such as automotive, healthcare, and construction among others. Software components are necessary for the functioning of systems and solutions for printing objects, so the growth in demand for 3D printers is the main driver for the growth of 3D printing software market.
3D printers have advantages such as low cost, reduced manufacturing time, reduced material waste, etc. Increased public and private spending in these industries will fuel the market demand for 3D printing software during the forecast period.
Moreover, the driving force behind the 3D printing software market is the increase in demand for desktop printing nationwide. 3D printing software enables manufacturers to print customized objects according to the needs of their customers, which further drives the growth of the market.
In addition, the shift from prototyping to functional manufacturing in industries such as automotive, healthcare, aerospace and defense, etc. has increased the need for 3D printing software in the market. In addition, the increasing investments in the research and development of this software will further enhance the market growth in the coming years.
In the end user industries, the healthcare and automotive industry accounts for the dominant market share due to the overuse of 3D printing in industries for multiple applications. The aerospace and defense industry is also expected to grow at a high CAGR due to increased spending in the sector. Geographically, North America is expected to hold the dominant share of the market due to well-developed infrastructure and strong adoption of the latest technologies. The Asia Pacific will hold a notable market share due to 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 main key driver of the 3D printing software market is the increasing use in the automotive and healthcare industry. Automotive OEMs use 3D printing software for rapid prototyping. Extensive use of 3D printing software for multiple applications in automotive industry will drive the market growth during the forecast period.
High costs and limited availability
The costs associated with 3D printing software are very high due to the specialized features of printing. Due to the high costs, many small and medium market players might not be able to adopt this technology, which may restrain the growth of the market during the forecast period. In addition, the software is not developed in abundance, as it is available in limited numbers and therefore may not reach all industries of end users, which may further restrict the growth of the market.
Impact of COVID-19 on the 3D printing software market
The Covid-19 pandemic has negatively impacted the 3D printing software market, as due to the lockdown and travel and trade restrictions imposed by governments, worldwide, the business operations of many industries such as automotive, aerospace, health, etc. were interrupted. which in turn lowered the demand for 3D printing equipment in 2020 as industries suffered huge losses. However, the growing demand for this software in the healthcare industry has globally balanced the growth of the market.
The leaders in the 3D printing software market are 3D Slash, Autodesk, Inc., Trimble Inc., Blender, Dassault Systèmes SolidWorks Corporation, DesignSpark Mechanical, 3D Systems, SLM Solutions Group AG and Optomec, Inc. The major players in the market implement growth strategies such as product launches, mergers and acquisitions, etc. to gain a competitive advantage over their competitors.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1. Market factors
4.2. Market constraints
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. Analysis of 3D printing software market, by end-use industry
6.2. Health care
6.4. Aeronautics and Defense
7. Analysis of 3D printing software market, by geography
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive intelligence
8.1. Benchmarking and competitive analysis
8.2. Recent investment and transactions
8.3. Strategies of key players
9. Company profiles
9.1. 3D slash
9.2. Autodesk, Inc.
9.3. Trimble Inc.
9.5. Dassault Systèmes SolidWorks Corporation
9.6. Mechanical park design
9.7. 3d systems
9.8. SLM Solutions Group SA
9.9. Optomec, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/s095wy
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SOURCE Research and Markets