By David Willey, Benzinga
Shapeways Holdings, Inc. (NASDAQ: SHPW), a leading digital manufacturing company, is positioned to transform the global manufacturing industry. The company has advanced its mission by providing on-demand manufacturing services at scale, simplifying complex production processes via proprietary software. Shapeways also provides its digital manufacturing software platform to other companies, enabling them to digitize operations, grow revenue, increase profitability, and expand their manufacturing capabilities.
The global manufacturing market is challenged with slow, inflexible processes focused on mass production, and often fails to meet evolving customer needs. Shapeways addresses these challenges by enabling customers to access high-quality, on-demand manufacturing services. This not only speeds up time-to-market but also reduces cost, and offers flexibility for adapting to changing requirements.
By leveraging software, Shapeways has digitized the end-to-end manufacturing process and is helping other manufacturers do the same as they reshape the global manufacturing industry.
Shapeways operates in the global digital manufacturing market, worth $276 billion in 2020 according to Allied Market Research, and predicted to reach $1.3 trillion by 2030 at a compound annual growth rate (CAGR) of 16.5% over the decade.
The company’s mission is to integrate modern technology into the global manufacturing framework, introducing fresh perspectives and practical solutions for optimizing the entire manufacturing process–beginning with product development.
Shapeways recognizes major challenges in the manufacturing industry, mainly stemming from a sluggish response to shifting market needs. Traditional manufacturing's focus on mass production often restricts the options available to clients. To counter this, Shapeways introduces transformative solutions like additive manufacturing to enhance flexibility and adaptability.
According to a Smithers report, “The Future of 3D Printing to 2027,” the additive manufacturing industry, where Shapeways plays a key role, was worth $5.8 billion in 2016 and is predicted to reach $55 billion in 2027 at a compound annual growth rate (CAGR) of 23% during the forecast period.
To date, the company has manufactured over 24 million unique parts delivered to more than 1 million customers in over 180 countries. Shapeways reports strong customer relationships, with a less than 1% complaint rate and a 98% on-time delivery rate for its manufactured parts.
The Shapeways-owned OTTO software offering is a comprehensive manufacturing software suite that enables other manufacturers to digitize their operations, leading to increased revenue, improved profitability, expanded capabilities, and greater customer satisfaction. Shapeways deploys this software offering through its MFG.com brand, serving as a key software solution connecting buyers with sellers of custom parts. MFG.com reduces costs, streamlines supply chains, and delivers services that improve value for everyone involved in the manufacturing equation.
Shapeways is creating scalable, high-margin recurring revenue through its MFG customer base. The company’s reported earnings for Q1 2023 included more than 50% quarter-on-quarter growth in its Software-as-a-Service bookings, consistent customer retention, and a customer lifetime value of over $4,200.
Shapeways also just announced an enhancement of its MFG brand with a positive response. The company has further expanded its offerings with MFG Materials, and the launch of a 3D Model Viewer created to improve the quoting experience and generate more leads for manufacturers.
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