Fitiv Drives Explosive Growth of On-Demand Digital Manufacturing in 2021
Business customers and investments in speed, quality and transparency yield four million precision parts and double growth in core business
SAN FRANCISCO, Jan. 18, 2022 (GLOBE NEWSWIRE) — Throughout 2021, the world continued its accelerated shift to on-demand digital manufacturing as part of an industry-wide transformation and response to short-term pressures such as the pandemic and supply chain disruption. In his Year in Review, Digital Manufacturing Ecosystem (DME) fictional highlighted its leading role in this growth and the impact on its own business and customers.
In particular, the launch by Fictiv of a new enterprise-grade manufacturing platform in 2021 has helped companies deepen their investments in on-demand digital manufacturing, as evidenced by 190% growth in the number of Fictiv customers spending more than $100,000 per year, industry and aerospace growing by 300% and 250% respectively. Unlike other on-demand solutions that focus solely on research and development (R&D) services or only provide access to an unverified marketplace of vendors, Fictiv’s focus on built-in security, transparency and quality standards provides a robust continuum of tools and features that all power three phases of new product development: R&D, validation, and product launch.
In total, Fictiv has manufactured four million precision parts on behalf of its customers over the past year and 18 million parts to date. The company doubled its core business from 2020 and expanded its global team by 81% over the same period, including at Fictiv’s new offices in India.
“From day one, our goal has been to revolutionize manufacturing through digitization by creating a faster and more efficient manufacturing product development lifecycle,” said Dave Evans, CEO and Co-Founder of Fictiv. “In 2021, we were the first to scale this vision with the introduction of Fictiv Enterprise. We are excited to report on the growth of our business as business leaders embrace the critical role our proven tools and services play in building agile, digital supply chains for their businesses.
Additional key milestones and achievements include:
Using Fictiv, companies were able to assess and secure Design for Manufacturability (DfM) on self-quotable parts in an average of 14 seconds;
In 2021, the total carbon emissions offset by Fictiv’s sustainable EMR was 1.1 million pounds through a partnership with Dot Neutral.
About Fiction Fictiv is a digital manufacturing ecosystem that rapidly delivers custom mechanical parts on demand to help teams accelerate new product innovation. Its quality-controlled ecosystem delivers unprecedented manufacturing agility and speed through a digital quote-to-order platform, a highly controlled and managed global partner network, and a team of manufacturing experts who manage programs and inspect quality at every stage of the process. Different from traditional contractors, Fictiv’s operations are built around a digital core that leverages proprietary AI algorithms to provide instant pricing, design for manufacturability feedback, and transparency from production. Fictiv’s portfolio of optimized manufacturing services includes 3D printing, CNC machining, urethane molding and injection molding. Over the past eight years, Fictiv has manufactured 18 million parts for start-ups and large enterprises, helping them innovate with agility and bring their products to market faster. www.fictiv.com.