North America accounted for a major share of the market due to university research, innovative companies, and government involvement. The North America 3D printed electronics market is estimated to grow with a highest CAGR of XX% during the forecast period, reaching USD XX million in 2027, from its recorded value of USD XX million in 2019.
The growth is mainly due to the increasing adoption of 3D printing technology in the region across various industry verticals, especially aerospace & defense and across countries, namely the U.S. and Canada. The US dominated the North America 3D printed electronics market with a market revenue share of 91% in the year 2019. Major corporations in the U.S. are also adopting 3D printing for quick design testing and manufacturing advantage. The aerospace & defense industry of the United States is the leading innovator and producer of technologically advanced aircraft, space and defense systems in the world. As the aerospace & defense industry plays a critical role in securing the USA’s national security and driving its economy, the sector witnesses various R&D investments both from government and industry in the new & emerging technologies. As, the adoption of 3D printed electronics in the A&D industry improves efficiency and quality, reduces manufacturing cost, accelerates the process, and makes new & complex designs practical; the investments in 3D printed electronic components for A&D is surging, which is propelling the growth of the market in the region.
The giants like Boeing, Airbus, GE Aerospace and NASA in the country are widely accepting as well as investing in 3D printed electronics for aerospace. As of 2018, the company has produced and is set to install 3D-printed spacer panels on its commercial A320 aircraft. The use of 3D printed components in the U.S. is unregulated in most of the industries. However, the U.S. Food and Drug Administration (FDA) regulates the use of 3D printed electronics in the Medical sector. According to a SelectUSA.gov publication, the Americas have the largest medical device market in the world. Thus, 3D printed electronics are expected to witness significant adoption in several areas of the US medical sector.
The strong presence of key market players like EoPlex Technologies, nScrypt Inc., Optomec Inc., Cartesian Co., and BotFactory Inc., NCC Nano, LLC is also contributing to the growth of the market. In April 2018, Nano Dimensions, a leading additive electronics provider, marked its U.S. expansion with new sales of the DragonFly 2020 Pro 3D printer to three prominent American customers and also announced the opening of its third Customer Experience Center co-located with the company’s U.S. headquarters in Santa Clara, California. On the other hand, Canada's 3D printed electronics market is likely to reach USD 37.42 million in 2027, from its recorded value of USD 9.13 million in 2019, growing with a CAGR of 20.65% during the forecast period. The key end-user verticals for 3D printed electronics in Canada are aerospace, healthcare, automotive, consumer electronics, and smart retail & intelligent packaging.
In the Canadian healthcare industry, the 3D printed electronics processes are already in use for the manufacture of biosensors in the disposable glucose test strips used by diabetes patients. However, wearable technology is a hot industry for remote healthcare and health & fitness in the country. The rising investments & funding coupled with new R&D developments is a primary factor supporting the growth of the market in Canada. Recently, in May 2018, the two top 3D printing companies of Canada, Javelin Technologies and Climetrix Solutions, merged to form a new 3D design engineering and printing powerhouse. Moreover, the manufacturing industry in Mexico is currently booming owing to several factors. The favorable trade agreements make the country a global contender for export and import business, and a young & skilled workforce offers optimal and cost-efficient labor. Over the last decade, American and European aerospace manufacturers and suppliers have sought new destinations that offered competitive labor costs and promising R&D potential, and Mexico has emerged as the country of their choice. In May 2018, the HP expanded its reach to Mexico with Bojä3D. HP sees companies like Bojä3D as manufacturing innovators who accelerate 3D printing for production, Bojä3D joining other service providers, such as Fathom, Forecast3D, Go Proto, among others, to install HP 3D printing systems to distribute 3D printed parts. Mexico 3D printed electronics market is likely to reach USD 5.01 million in 2027, from its recorded value of USD 1.28 million in 2019, growing with a CAGR of 20.08% during the forecast period.
About Us:
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com