Fictiv Drives Explosive Growth in Digital, On-Demand Manufacturing in 2021
In its Year in Review , Digital Manufacturing Ecosystem (DME) Fictiv highlighted its primary role in this growth and the impact to its own business and customers.
SAN FRANCISCO, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Throughout 2021, the world continued its accelerated shift to digital, on-demand manufacturing as part of an industry-wide transformation and in response to near term pressures like the pandemic and supply chain disruption. In its Year in Review, Digital Manufacturing Ecosystem (DME) Fictiv highlighted its primary role in this growth and the impact to its own business and customers.
Notably, Fictiv’s launch of a new enterprise-grade manufacturing platform in 2021 helped companies deepen their investment in digital, on-demand manufacturing, as evidenced by 190% growth in the number of Fictiv customers spending more than $100,000 annually, with the industrial and aerospace sectors growing at a rate of 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 unvetted marketplace of suppliers, Fictiv’s emphasis on embedded security, transparency, and quality standards provides a robust continuum of tools and features that power all three new product development phases of product R&D, validation, and launch.
Overall, Fictiv manufactured four million precision parts on behalf of its customers in the past year and 18 million parts to date. The company doubled its core business compared to 2020 and expanded its global team by 81% over that same timespan, 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 life cycle,” 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 thrilled to report on our company's growth as enterprise leaders have embraced the critical role our proven tools and services play in building agile, digitally-driven supply chains for their businesses.”
Additional key milestones and achievements include:
- Using Fictiv, companies were able to price and secure design for manufacturability (DfM) on auto-quotable parts in an average of 14 seconds;
- Throughout the year, Fictiv’s world-class engineering team launched 20 new features across 44 deployments and 5,116 code commits to advance its DME, including major enhancements in enterprise security and SOC 2 certification, quality, and 2D drawing generation technology;
- In 2021, the total carbon emissions offset by Fictiv’s sustainable DME was 1.1 million pounds through a partnership with Dot Neutral.
About Fictiv
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, highly vetted and managed global partner network, and team of manufacturing experts that manage programs and inspect quality every step of the way. Different from traditional contract manufacturers, Fictiv’s operations are built around a digital core that leverages proprietary AI algorithms to deliver instant pricing, design for manufacturability feedback, and production transparency. Fictiv’s portfolio of optimized manufacturing services includes 3D printing, CNC machining, urethane casting, and injection molding. Over the last eight years, Fictiv has manufactured 18M parts for early-stage companies and large enterprises alike, helping them innovate with agility and get products to market faster. www.fictiv.com.
Media Contact:
Stephanie Hicks
Cosmo PR for Fictiv
805-295-9455
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