LONDON–(BUSINESS WIRE)–The global 3D printed jewelry market size is expected to grow by USD 1.95 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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The growing innovations and advances in technology have changed the preferences of customers, which has increased the demand for innovative products. This has encouraged vendors operating in the global 3D printed jewelry market to continually engage in R&D and innovation to survive in the competitive market environment. The major product innovations introduced in the global 3D printed jewelry market are related to technology, materials used, features, and designs. Vendors are offering premium products with enhanced quality and innovative designs. For instance, Melorra, one of the vendors in the market, offers textured gold and layered design in various gold and diamond jewelry. In addition, the demand for personalized jewelry is growing among consumers, as it allows them to select their desired designs and further customize their jewelry by adding gemstones and other precious stones. Thus, the growing emphasis on product premiumization and personalization will drive the growth of the market during the forecast period.
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As per Technavio, the increasing popularity of e-commerce channels will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
3D Printed Jewelry Market: Increasing Popularity of E-commerce Channels
The penetration of the Internet and the availability of smart gadgets has increased access to online shopping platforms. For instance, global Internet penetration was 58.7% as of December 31, 2019. Hence, retailers are utilizing online platforms to expand their geographical reach and consumer base. Convenience, easy access to products, better promotions, and on-time delivery are the major benefits offered by online platforms, which are encouraging consumers to purchase 3D printed jewelry. Some vendors are implementing SSL certificates for their websites for offering secured transactions to their customers. Online vendors also provide numerous photos and detailed product descriptions along with warranty and guarantee details. This helps customers to choose a product according to their requirement. Thus, the popularity of e-commerce channels is growing, which will drive the growth of the 3D printed jewelry market during the forecast period.
“Other factors such as the increasing adoption of 3D printing across industries, and the introduction of augmented reality will have a significant impact on the growth of the 3D printed jewelry market value during the forecast period,” says a senior analyst at Technavio.
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3D Printed Jewelry Market: Segmentation Analysis
This market research report segments the 3D printed jewelry market by technology (SLA, SLS, DLP, FDM, and Others) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the 3D printed jewelry market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the rising technological innovations in the retail channel and the increasing demand for customized designer jewelry.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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