The Digital Fabrication Market is estimated to be valued at US$ 38.01 Bn or in 2023 and is expected to exhibit a CAGR of 30. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Digital fabrication refers to the computer-controlled manufacturing process of making three-dimensional objects from digital files. It mainly involves 3D printing technology which constructs physical forms layer-by-layer until a 3D object is formed. Digital fabrication has wide applications in automotive, aerospace, healthcare and other industries due to the flexibility in making customized components.

Market key trends:
One of the key trends spurring growth in the digital fabrication market is the increasing adoption of 3D printing for rapid prototyping applications. 3D printing technology enables manufacturers to fabricate prototypes and models more quickly and cost-effectively compared to conventional methods. This helps companies to refine their product designs efficiently and bring products to market faster. 3D printing is also gaining prominence in manufacturing customized end-use products like medical implants directly from CAD files on-demand. The growing focus on mass customization is expected to significantly boost demand for 3D printing and digital fabrication solutions over the forecast period.

Porter's Analysis

Threat of new entrants: The large capital requirement and need for technological expertise pose barriers for new players entering the market.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute fabrication methods.

Bargaining power of suppliers: Suppliers of raw materials such as polymers have moderate bargaining power due to availability of alternative supplier options.

Threat of new substitutes: Traditional fabrication methods pose as substitutes to digital fabrication methods for certain applications.

Competitive rivalry: Intense competition exists among existing players.

SWOT Analysis

Strengths: Access to global markets and various application sectors such as healthcare, automotive boost growth.

Weaknesses: High machinery costs and need for skilled labor. Lack of common standards limits interoperability.

Opportunities: Emerging applications in wearables, consumer products present opportunities. Rising adoption in education sector fosters market growth.

Threats: Economic slowdowns impact spending on capital equipment. Strategic partnerships between competitors limit opportunities.

Key Takeaways

The global Digital Fabrication Market Share is expected to witness high growth, exhibiting CAGR of 30% over the forecast period, due to increasing adoption in automotive and healthcare sectors.

Regionally, North America dominates currently due to early adoption. However, Asia Pacific is expected to grow at the fastest pace owing to expansion of key players into emerging countries and rising demand from industries in China and India.

Key players operating in the digital fabrication market are Stratasys Ltd., 3D Systems Corporation, HP Inc., General Electric Company, Materialise NV, Proto Labs Inc., Voxeljet AG, ExOne Company, Autodesk Inc., Siemens AG, EOS GmbH, Renishaw plc, SLM Solutions Group AG, Carbon Inc., Desktop Metal Inc. Major players focus on partnerships and new product launches to gain competitive advantage.

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