Manshat Report: Market to Reach 165.7B Riyals by 2031
The article focused on the "Monshaat" report regarding the importance of early prototyping in accelerating innovation and reducing risks during product development. The report emphasizes that this concept helps companies test ideas quickly and at a lower cost before investing significant resources, thereby minimizing the chances of failure and promoting rapid learning. It also indicates that the global rapid prototyping market is expected to grow from 86.66 billion SAR in 2025 to 165.7 billion SAR by 2031, at an annual growth rate of 11.41%. Locally, the 3D printing market is projected to expand from 1.20 billion SAR in 2025 to 6.47 billion SAR by 2034, with a growth rate of 20.52%. The report also highlighted the achievements of the "Monshaat" Innovation Center, where revenues exceeded 300 million SAR, 263 prototypes were executed, and more than 8,062 beneficiaries used its services. The authority supports the advancement of rapid prototyping through innovation centers, labs, and financing programs, reflecting a strategic direction toward developing Saudi Arabia's innovation sector and achieving domestic growth that surpasses double the global growth rate.
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