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3D Printing Market Size to Worth Around USD 98.31 BN by 2032

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Ottawa, March 28, 2023 (GLOBE NEWSWIRE) — Precedence Research announced, the 3D printing market is expanding at a CAGR of 18.92% over the forecast period 2023 to 2032. 3D printing is a manufacturing method that employs digital documents to generate three-dimensional parts. Due to their outstanding accuracy as well as the resource-efficient prototype, additive methods are used in 3D printing to manufacture goods by introducing successive material layers. 3D printing products and services such as resin 3D printers, 3D printer filament as well as 3D printers, had also grown in popularity for producing personalized goods. Due to ongoing 3D printing research and development, as well as the growing need for prototype products from various industrial verticals, mainly in automotive, healthcare, military, and aerospace, the industrial 3D printing market is expected to grow.

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The aggressive R&D in Three-Dimensional Printing (3DP) and growing demand for prototyping applications from various industry verticals, particularly healthcare, automotive, and aerospace and defense, are the factors expected to drive the market growth.

Component Landscape

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The hardware industry dominated the market in 2022, accounting for 65% of total sales. The market for hardware was estimated at USD 12.81 billion in 2022. The hardware sector has benefited from the growing importance of accelerated prototyping and innovative manufacturing practices. The primary drivers are rapid industrialization, urbanization, the rising popularity of customer electronic devices, improved civil infrastructure, and reduced labor costs.

The software sector is predicted to expand at a rapid pace. The market for software was estimated at USD 5.71 billion in 2022. 3D printing software is frequently used to generate products and parts that will be printed. The potential to keep scanned pictures of objects is expected to drive the scanning software market during the forecast period.

Printer-type Landscape

The industrial printer category is expected to account for more than 77% of overall revenue in 2022. A large part of industrial 3D printers is responsible for the widespread use of industrial printers in sectors like electronics, automotive, defense and aerospace, and healthcare.

Furthermore, 3D printers are predicted to expand at the fastest CAGR from 2023 to 2032. Desktop 3Dimensional printers are currently used for household and domestic purposes. They are, however, used in higher education settings such as schools for technical research and education. Small businesses are adopting desktop printers and expanding their operations to include 3D printing and related activities.

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Technology Landscape

Stereolithography is one of the most ancient and popularly used printing technologies. The stereolithography sector ruled the market in 2022. Technological advancements and research and development events carried out by industry researchers and experts are paving the way for more dependable and efficient techniques.

3D Printing Market by Technology, (Revenue USD Million)

Technology 2021 2022
Stereolithography 1,152.2 1,389.9
Fuse Deposition Modeling 1,041.4 1,261.7
Selective Laser Sintering 472.8 567.9
Direct Metal Laser Sintering 470.8 564.9
Polyjet Printing 518.6 617.7
Inkjet Printing 586.6 709.7

The most preferred technology is selective laser sintering (SLS). It is expected to grow at the fastest CAGR throughout the predicted period due to its numerous advantages over other technologies. SLS uses 12-powder nylon as a raw material instead of the photosensitive resin used during stereolithography. SLS has been demonstrated to be cost and material-friendly since it does not require a post-printing support structure. Furthermore, SLS has improved durability and produces functional parts as well as prototypes. It is also progressively being used in sports automobiles and electric vehicles. The IEA estimates that the number of electric car sales worldwide was 7 million in 2021 and will be 80% by 2050. Major automotive firms have increasingly used SLS 3D printing technology in EVs, which is predicted to propel segment expansion.

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Application Landscape

Prototyping led the market in 2022, accounting for approximately 55% of total revenues. By using prototyping greater precision and more reliable finished products are manufactured. Prototyping is widely used in the aerospace, defense, and automotive industries.

Furthermore, the tooling sector is anticipated to expand over the predicted period. 3D printing for tooling had also emerged to be one of technology’s most potential applications. Polymer 3D printing enables faster, cheaper, and more customized tools for everything from fixtures and jigs to asset casting patterns. Owing to their relative affordability and convenience of use, companies generally switch to SLA and FDM technologies to generate tooling. According to reports, Ford is applying Ultimaker FDM 3D printers to produce custom tools.

Vertical Landscape

Based on the vertical, the market is divided into two segments: desktop 3D printing and industrial 3D printing. The industrial 3D printing sector held the largest market in 2022, accounting for more than 77% of total sales. Industrial 3D printing contributes to the development of artificial muscles and tissue that mimic human tissues and are used in replacement reconstructive surgery.

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3D Printing Market by Type, (Revenue USD Million)

Type Revenue 2022 (USD Million)
Desktop 3D Printer 4,740.3
Industrial 3D Printer 15,276.7
Total 20,012.0

Over the forecast period desktop 3D printing is estimated to grow at a steady pace. Desktop 3D printing applications include education, fashion, jewelry, dentistry, objects, food, and others. The dental vertical dominated the market in 2022 and is expected to grow during the forecast period. The use of 3DP printers in the production of miniatures, replica jewelry, craft and art, clothing, and apparel is also rapidly increasing.

Material Landscape

In 2020, revenue from polymer 3D printing is expected to reach $11.7 billion, which includes hardware, materials, and 3D-printed parts sales. Currently, the technique has a wide range of medical applications, from surgical tips and tools to human tissue replacement.

During the forecast period, the ceramic material sector is anticipated to grow significantly. Even though ceramic additive manufacturing is still in its early stages, rising R&D for 3D printing technologies which includes inkjet and FDM printing has resulted in an increased requirement for ceramic additive manufacturing.

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Regional Landscape

North America led the market in 2022, accounting for roughly 34% of total revenues. Fitness trackers and smart clothing are expected to propel 3D printing technologies in the United States, Canada, and the United Kingdom. Furthermore, shifting customer preferences have resulted in a demand for flexible bands and electronics systems using 3D printing technology is driving the growth.

3D Printing Market by Region, (Revenue USD Million)

Region 2021 2022
North America 5,765.0 6,871.2
Europe 5,044.1 6,131.5
Asia Pacific 3,832.9 4,792.8
South America 1,238.9 1,467.8
MEA 659.1 753.7

During the projected period, the Asia-Pacific is predicted to grow at the fastest CAGR. This faster approval of additive manufacturing in the Asia Pacific is attributed to upgrades and developments in the region’s manufacturing industry. In addition, Asia Pacific is rising as an industrial powerhouse for the automotive and healthcare sectors. A stronghold on consumer electronics production, combined with faster urbanization, is adding to the region’s growing demand for 3D printing.

Market Dynamics

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Drivers

Ease of developing customized products

Material availability and advancements in 3D printing techniques have hastened the implementation of print-on-demand sections for the production of customized functional parts. 3D printing enables the production of personalized products based on individual requirements and needs. Customized services are provided by the companies, including basic design advancement by designers, accompanied by enabling them to co-design the goods. Continuous technological advancement in emerging 3D printing techniques, lower printer costs, as well as the availability of a variety of materials makes it possible to easily manufacture custom-made products. For instance, a 5,000-pound, 25-foot boat called 3Dirigo which was 3D printed by the University of Maine set a Guinness World Record.

Restraint

The threat of infringement on intellectual property rights

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With the rising use of technology and the expiration of patents, 3D printers seem to be very common. Industries have already begun uploading their documents to websites so that customers choose their products before transporting them to consumers. Customers may anticipate a greater level of individualization for the items they purchase. Increased consumer adoption may increase 3D copyright infringement.

In 2021, the Ibero-American Program for Industrial Property published a report analyzing patent applications related to the 3D printing filed in its member countries between 2014 and 2018.

Recent developments:

  • In October 2022, PostProcess Technologies as well as EOS formed a distribution partnership in order to provide EOS customers with a completely automated & sustainable depowering solution.
  • Imaginarium announced the launch of its desktop as well as industrial 3D printer range in collaboration with Ultimaker in February 2022.

Key Market Players

  • Stratasys Ltd.
  • EnvisionTec, Inc.
  • Materialise
  • 3D Systems, Inc.
  • Autodesk Inc.
  • GE Additive
  • Voxeljet AG
  • Made In Space
  • Canon Inc.

Segments Covered in the Report\

By Component

  • Software
  • Hardware
  • Services

By Printer Type

  • Industrial 3D Printer
  • Desktop 3D Printer

By Technology

  • Selective Laser Sintering
  • Stereolithography
  • Fuse Deposition Modeling
  • Direct Metal Laser Sintering
  • Inkjet Printing
  • Polyjet Printing
  • Electron Beam Melting
  • Laminated Object Manufacturing
  • Digital Light Processing
  • Laser Metal Deposition
  • Others

By Application

  • Functional Parts
  • Tooling
  • Prototyping

By Vertical

  • Desktop 3D Printing
  • Industrial 3D Printing

By Material

  • Metal
  • Polymer
  • Ceramic

By Geography 

  • North America
  • Europe
  • Asia Pacific
  • LAMEA

VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Cost breakup of a global 3D printing market and key vendor selection criteria
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • ‘Business Profile’ of Key Players

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About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Artificial Intelligence

Medasense Announces a Strategic Agreement With Global Medical Company, Nihon Kohden Corporation

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RAMAT GAN, Israel, June 26, 2024 /PRNewswire/ — Medasense, a global leader in pain monitoring solutions, is proud to announce a strategic partnership with Nihon Kohden for the exclusive distribution of its revolutionary pain monitoring device in Japan. This partnership is intended to transform pain management practices across Japanese healthcare facilities, offering a significant advancement in patient care.

 
Nihon Kohden, renowned for its history of excellence in providing innovative high quality, reliable medical technology that improves the way healthcare is practiced, is partnering with Medasense to introduce its nociception monitor to the Japanese market. This cutting-edge device, with its state-of-the-art AI powered NOL – Nociception Level Index®, provides real-time, objective pain monitoring, enabling the personalization and optimization of pain treatment. It will be accessible to hospitals and clinics throughout Japan through Nihon Kohden’s extensive distribution channels pending regulatory approval.
Medasense’s CEO & Founder, Galit Zuckerman, expressed enthusiasm about the collaboration: “We are honored to partner with Nihon Kohden, a company with a long history of excellence, that shares our vision of improving patient care through innovative solutions. Our mission is to help all patients suffer less from pain and the adverse effects of pain medication. Nihon Kohden’s established clinical, technological leadership and expertise in the Japanese market make them the perfect partner to distribute our nociception monitor.”
NOL monitoring provides an AI powered, clinically validated index to objectively quantify the physiological response to pain (nociception) supporting clinicians in delivering personalized anesthesia tailored to patient requirements. With over 40 peer reviewed publications, clinical studies have demonstrated that NOL-guided analgesia resulted in intraoperative opioid sparing, and improved post operative pain scores and patient recovery.1,2
For more information about Medasense and Nihon Kohden, please visit www.medasense.com and www.nihonkohden.com/.
About Medasense and NOL – Nociception Level Index® Technology
Medasense is transforming pain management with its breakthrough technology that empowers clinicians to optimize and personalize pain control, significantly reducing the risk of pain or of overmedication. The company’s flagship product, the PMD-200™, equipped with the NOL-Nociception Level Index®, leverages advanced artificial intelligence and a proprietary non-invasive sensor system. This unique platform provides objective monitoring and quantification of a patient’s pain response, making it an essential tool in an operating room and critical care unit settings where patients cannot communicate their pain levels. The PMD-200 is the first and only monitor to be authorized by the FDA for pain measurement for anaesthesiology. It has been used in over 100,000 surgeries worldwide, and is commercially available in the US, Europe, Canada, Latin America and Israel.
Watch Medasense’s 1-minute video
About Nihon Kohden
Founded in 1951, Nihon Kohden is a global leader of medical solutions with the goal to improve healthcare with advanced technology. For more than 70 years, Nihon Kohden has continued to provide a wide range of medical electronic equipment including EEG, EMG/EP measuring systems, electrocardiographs, bedside monitors, defibrillators, AEDs, ventilators, and hematology instruments.
Nihon Kohden utilizes cutting-edge technology to support medical treatment in all clinical areas, integrating medical devices into the IT network to meet customers’ requirements and offers a wide, comprehensive solution.
For further information please contact:Rachel Weissbrod, VP Clinical & Market Development, [email protected] 
1.  Meijer, F., Honing, M., Roor, T., Toet, S., Calis, P., Olofsen, E., Martini, C., van Velzen, M., Aarts, L., Niesters, M., Boon, M., Dahan, A. (2020). Reduced postoperative pain using Nociception Level-guided fentanyl dosing during sevoflurane anaesthesia: a randomised controlled trial. British Journal of Anaesthesia, In Press. DOI:https://doi.org/10.1016/j.bja.2020.07.057
2.  Fleur S. Meijer, Chris H. Martini, Suzanne Broens, Martijn Boon, Marieke Niesters, Leon Aarts, Erik Olofsen, Monique van Velzen, Albert Dahan. Nociception-guided versus Standard Care during Remifentanil–Propofol Anesthesia: A Randomized Controlled Trial. Anesthesiology (2019); 130:745–755
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Artificial Intelligence

IoT Sensors Market Set to Surpass USD 107.74 Billion by 2031| SkyQuest Technology

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WESTFORD, Mass., June 26, 2024 /PRNewswire/ — According to SkyQuest, the global IoT Sensors Market size was valued at USD 11.20 Billion in 2022 and is poised to grow from USD 14.40 Billion in 2023 to USD 107.74 Billion by 2031, at a CAGR of 28.60% during the forecast period (2024-2031).

IoT sensors are sensors that are specifically designed for Internet of Things (IoT) devices and applications. High adoption of IoT devices and growing advancements in IoT technologies are fostering demand for novel IoT sensors. The global IoT sensors market is segmented into sensor type, vertical, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/iot-sensors-market
IoT Sensors Market Overview: 
Report Coverage 
Details 
Market Revenue in 2023 
$ 14.40 billion 
Estimated Value by 2031 
$ 107.74 billion 
Growth Rate 
Poised to grow at a CAGR of 28.60% 
Forecast Period 
2024–2031 
Forecast Units 
Value (USD Billion) 
Report Coverage 
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends 
Segments Covered 
Sensor Type, Network Technology, and Vertical
Geographies Covered 
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights 
Updated financial information / product portfolio of players 
Key Market Opportunities 
Proliferation of Smart Devices
Key Market Drivers 
Advancements in Wireless Communication Technologies
Segments covered in IoT Sensors Market are as follows:
Sensor TypeTemperature Sensor, Pressure Sensor, Humidity Sensor, Flow Sensor, Accelerometer, Magnetometer, Gyroscope, Inertial Sensor, Image Sensor, Touch Sensor, Proximity Sensor, Acoustic Sensor, Motion Sensor, Occupancy Sensor (Image Processing Occupancy Sensors, Intelligent Occupancy Sensors), CO2 Sensor, Other Sensors (Light sensor, Radar sensor)Network TechnologyWired (KNX, LonWorks, Ethernet, MODBUS, DALI), Wireless (Wi-Fi [Bluetooth Smart, Wi-Fi Bluetooth Smart, Bluetooth Smart / Ant+, Bluetooth 5]), ZIGBEE, Z-WAVE, NFC, RFID, ENOCEAN, THREAD, GLoWPAN, WIRELESS-HART, Frocess field bus, DECT-ULE, Others (ANT+, ISA100, GPS, Sub-Gig, and Cellular)VerticalConsumer (Home automation, Smart cities, Wearable electronics), Commercial (Retail, Aerospace and Defense, Logistics and supply chain, Entertainment, Financial Institutes, Corporate Offices), Industrial (Energy, Industrial Automation, Transportation, Healthcare, Smart agriculture)Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/iot-sensors-market
Pressure Sensors Keeping Up the Pressure in IoT Sensors Market
Pressure sensors are used in cars as well as industrial facilities used to make cars and are a vital part of almost all kinds of technical devices or products. Pressure sensors play a vital role in maintaining the safety of multiple operations by keeping the pressure in check and warning users when it reaches unsafe levels. High emphasis on security around the world is projected to promote the demand for pressure sensors in the future. Aerospace, healthcare, and manufacturing are some key industry verticals where demand for pressure sensors will always be high.
The rapid surge in the use of gesture-sensitive devices all over the world is promoting the demand for accelerometer sensors. From factory automation to smart homes, the use of accelerometer sensors is projected to soar high over the coming years. Rising sales of fitness trackers and gaming consoles are also estimated to bolster the demand for accelerometer sensors in the future.
Temperature sensors are also anticipated to be highly popular in multiple IoT devices owing to the surging demand for temperature monitoring and control in various applications. Temperature sensors are also highly vital in maintaining the safety of IoT devices and surroundings to avoid mishaps due to excessive increases or drops in temperatures. Other types of sensors include motion sensors, light sensors, CO2 sensors, occupancy sensors, gyroscopes, proximity sensors, etc. All these different types of sensors are highly crucial for sustained IoT sensors market growth across the forecast period and beyond, therefore investing in any of these could help market players bolster their share.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/iot-sensors-market
High IoT Adoption Allows Industrial Vertical to Take Crown in Revenue Generation
The use of IoT technologies in the industrial vertical is increasing rapidly, which is why this sub-segment holds prominence in the global IoT sensors market. High demand for automation and increasing use of IoT devices to achieve the same are slated to foster new opportunities for IoT sensors market players in this segment. High adoption of the Industry 4.0 trend is also helping this sub-segment boost the demand for IoT sensors. Development of smart infrastructure is also boosting the demand for IoT sensors in the commercial vertical. From healthcare to construction, multiple industry verticals are promoting the use of IoT technologies and thereby driving sales of IoT sensors as well.
Pressure sensors for IoT devices and IoT sensors for industrial verticals are projected to be highly popular. IoT sensor companies should invest in these sub-segments to get the best return on their investments. Meanwhile, new companies can experiment with other segments to find what suits the best for their business and focus on the same. As per analysts, investing in the development of novel proximity and accelerometer sensors will be highly rewarding for upcoming IoT sensor companies.
Related Reports:
Sensor Market
Internet Of Things (IoT) Market
Internet Of Things (IoT) Professional Services Market
IoT Security Market
5G IoT Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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Artificial Intelligence

Actian Recognized as Exemplary Vendor in Ventana Research Data Platform Buyers’ Guide

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Strength in Manageability and Customer Experience Earn Actian High Regard in Ventana Research Report
ROUND ROCK, Texas, June 26, 2024 /PRNewswire/ — Actian, the data and analytics division of HCLSoftware, today announced it was named an Exemplary vendor and Overall Leader in Manageability in Ventana Research’s 2024 Data Platform Buyers’ Guide for the Actian Data Platform. Ventana’s extensive approach to the Buyers’ Guide evaluates Operational and Analytic Data Platform vendors in seven key categories that are weighted to reflect product and customer experience.

“The launch of Actian Data Platform was a significant step forward for Actian that combined its capabilities for data integration, with the company’s operational databases and analytic databases,” said Matt Aslett, director of research at Ventana Research, now part of ISG. “Providing a single environment that can manage data across multiple clouds as well as on-premises contributed to Actian being classified as Exemplary and a Leader in Manageability in Ventana Research’s Buyers Guides for Analytic Data Platforms, Operational Data Platforms and Overall Data Platforms.”
For Operational and Analytic Data Platforms, Actian was ranked highly for customer experience alongside vendors such as Google Cloud and Salesforce. Customers praised Actian’s strong product roadmap, use cases, and references available on its website, which provide valuable insights to prospective buyers. In addition, Actian was designated as a Leader in Manageability due to its strong license, use, and audit capabilities.
“Being recognized as an Exemplary vendor and a leader in Manageability is a testament to our commitment to delivering user-friendly and robust data management solutions,” said Jennifer Jackson, Chief Marketing Officer at Actian. “We are dedicated to supporting our customers throughout their entire journey with our products, ensuring they have the tools and support they need to succeed. This recognition by Ventana Research validates our efforts and motivates us to continue enhancing our platform to meet and exceed customer expectations.”
To learn more about Actian’s designation in the report please read this blog post and download the report here. 
About ActianActian makes data easy. We deliver cloud, hybrid, and on-premises data solutions that simplify how people connect, manage and analyze data. We transform business by enabling customers to make confident, data-driven decisions that accelerate their organization’s growth. Our data platform integrates seamlessly, performs reliably, and delivers industry-leading speeds at an affordable cost. Actian is a division of HCLSoftware.
Media Contacts
Danielle LeeSenior Director – Global Analyst Relations & Public [email protected] 
Ali WheelerPublic Relations [email protected] 
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