3D Printing in the Education Sector: A Market Set to Grow by USD 1.10 Billion from 2024-2028
The global 3D printing market in the education sector is projected to grow by USD 1.10 billion from 2024 to 2028, at a CAGR of nearly 13.64%, according to Technavio.
This growth is driven by the technology’s ability to enhance learning and teaching experiences through hands-on learning and improved teaching methods.
3D printing allows students to create tangible models, deepening their understanding and fostering creativity. Educators use these models to demonstrate complex concepts, making lessons more interactive.
Key players like SprintRay Inc., Stratasys Ltd, and Anker Innovations Co. Ltd are driving the market with continuous product innovations, such as enhanced heating systems and customizable user actions.
The broader adoption of 3D printing in industries like healthcare, defense, automotive, and consumer electronics further reinforces its utility and versatility.
The market is segmented by end-user (higher education and PreK-12), type (3D printing services and materials, and 3D printers), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
North America leads the market due to high adoption of advanced technologies, followed by Europe with significant growth driven by an emphasis on STEM education.
Regions like APAC, South America, and the Middle East and Africa are also increasing adoption at varying paces.
Key players in the market include 3D Systems Corp., Anker Innovations Technology Co., Ltd, Desktop Metal Inc., EOS GmbH, Formlabs Inc., HP Inc., Markforged Holding Corp., MATERIALISE NV, Stratasys Ltd., Ultimaker BV, and voxeljet AG.
Despite the promising growth, challenges such as the rise of rental services for 3D printers and high initial investments need to be addressed.
Companies like Mileshied Ltd. and Airwolf 3D offer rental options that provide access to advanced 3D printers without upfront investment, impacting new printer sales but also presenting opportunities for recurring revenue through rental agreements.
The significant initial cost of 3D printing technology can be a barrier for some educational institutions. However, the market outlook remains positive, with ongoing advancements in hardware, software, and materials driving future growth.
Trends like digitization, smart factories, machine learning, and robotics are increasing demand, and online 3D printing services are making the technology more accessible.
Overall, the 3D printing market in the education sector is set for significant growth, driven by enhanced learning experiences, continuous product innovation, and broad industry adoption, with strategic investments and advancements playing a crucial role in shaping its future.
