Mar 30, 2016 | By Tess
The International Data Corporation (IDC) has recently published a report that lays out and analyzes the Chinese 3D printer industry and its key players. The report, called China 3D Printing Market Analysis 2014-2015, released on March 29, 2016, explains that while China’s 3D printing market continues to be dominated by influential foreign brands, its own local vendors and 3D printing companies are catching up in terms of innovation and are becoming increasingly dominant forces within the Chinese market.
Currently, China’s top five dominant 3D printing companies in terms of revenue are EOS (Germany), Stratasys (US), Renishaw (UK), ZRapid (China), and Solidscape (US), showing a clear indication that the Chinese 3D printing market is dominated by foreign brands and companies. The report also shows, however, that Chinese companies, such as Xery, Flashforge, and Beijing Tiertime are catching up to companies like Stratasys and 3D Systems when it comes to the desktop 3D printer market, likely because of their high quality and competitive prices.
Wendy Mok, Research Manager of IDC’s Imaging, Printing and Document Solutions research explains, "Foreign brands' maturity in the technology, print stability and print quality help them maintain their top positions in the market. But the gap between foreign brands and local brands is narrowing as local vendors ramp up their effort to improve their printer’s performance and quality.”
The report issued by IDC also shows that three Chinese 3D printer companies, Flashforge, Beijing Tiertime, and Winbo, account for about 50% of China’s 3D desktop printer export market. The success of Chinese 3D printer exports is said to be likely “driven by the price competitiveness of made in China products and the demand to provide OEM services to foreign brands.”
As Wendy Mok explains in detail, "China vendors who are targeting mid-level to high-end users in China and the foreign market will need to start looking at more than just hardware prices as vendors need to incorporate software and services as part of their portfolios. Traditionally, the competitive advantage of Chinese brands in the overseas market is their relatively low price as compared with foreign vendors. New users will always opt for cheaper hardware to test out while existing users that have gained the experience and knowledge in integrating 3D printers into their businesses will tend to opt for foreign brands.”
The IDC has listed 3D printing as one of six key innovation accelerators, which also include the Internet of Things (IoT), Cognitive Systems, Next Gen Security, Augmented & Virtual Reality, and Robotics. These six points of innovation are expected to “fast-track digital transformation in the marketplace” and grow significantly, according to reports by the International Data Corporation.
The IDC also has an upcoming event on April 15th in Shenzhen, China, which will set its focus on discussing 3D printing markets and innovation. In fact, Keith Kmetz, the Program Vice President of IDC’s Imaging, Printing and Document Solutions research, will be hosting a session on “Finding Success in 3D Printing” to delve into the 3D printer market as it stands and how it can be optimized for those in the industry.
Posted in 3D Printer
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