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3D Printing - Global Thematic Research

3D Printing - Global Thematic Research

Summary

3D printing, or “additive manufacturing”, is the process of joining materials to make objects from three dimensional model data, usually layer upon layer. In 2013, the 3D printing industry was worth $3bn. It is expected to be worth $14bn by 2020, implying a CAGR of 25% for the next six years. Wohlers Associates, the industry’s leading consultants, are less optimistic – they forecast a $10bn market by 2020.

After three years of industry consolidation, two dominant 3D printer manufacturers – 3D Systems and Stratasys – have emerged. Whilst short term momentum is against them, on a five year investment horizon, it is believed that they are both undervalued. Both have developed unrivalled 3D printing ecosystems and are poised to make supernormal profits if 3D printing goes mainstream.

Many industry experts encourage investors to play the 3D printing theme through software. But Autodesk, the software player most associated with 3D printing is already expensive, trading at 46 times forward earnings

In this report, we look at 3D Printing industry, its players, industry analysis and its disruptive impact on old economy industries.

Scope

This report is part of our ecosystem of thematic investment research reports, supported by our “thematic engine”.
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GlobalData has developed a unique thematic methodology for valuing technology, media and telecom companies based on their relative strength in the big investment themes that are impacting their industry. Whilst most investment research is underpinned by backwards looking company valuation models, GlobalData’s thematic methodology identifies which companies are best placed to succeed in a future filled with multiple disruptive threats. To do this, GlobalData tracks the performance of the top 600 technology, media and telecom stocks against the 50 most important themes driving their earnings, generating 30,000 thematic scores. The algorithms in GlobalData’s “thematic engine” help to clearly identify the winners and losers within the TMT sector. Our 600 TMT stocks are categorised into 18 sectors. Each sector scorecard has a thematic screen, a risk screen and a valuation screen. Our thematic research ecosystem has a three-tiered reporting structure: single theme, multi-theme and sector scorecard. This report is a Single Theme report, offering in-depth research into a specific theme. It identifies winners and losers based on technology leadership, market position and other factors.

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Our thematic investment research product, supported by our thematic engine, is aimed at senior (C-Suite) executives in the corporate world as well as institutional investors.

• Corporations: Helps CEOs in all industries understand the disruptive threats to their competitive landscape
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Our unique differentiator, compared to all our rival thematic research houses, is that our thematic engine has a proven track record of predicting winners and losers.