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3D Printing: Market Expected to More than Double by 2019
The 3D printing market is expected to grow from $11 billion in 2015 to $26.7 billion by 2019. That’s a 27 percent annual growth rate, according to a new report by IDC.
The IDC report predicts that the 3D printer market which has been growing at 100 percent in China will surpass that of the US market in 2016. Because a large number of printers being manufactured in China are low-end desktop machines, the US will continue to lead the 3D printer market in revenues at least for the next few years.
Christopher Chute, Vice President IDC, said that “3D printing has been a mainstay in specialized discrete manufacturing markets like automotive and aerospace for many years. However, in just the past three years, lower-priced 3D printers and affordable materials have dramatically widened the market for 3D printing to now enable consumer, education, healthcare and additional manufacturing markets. That said, 3D printing availability doesn’t translate similarly across industries. Vendors and service providers need to understand how differences in use cases, materials cost, and end customer expectation are uniquely shaping each market.”
Tim Greene, IDC analyst, said that “the technologies that enable 3D printing continue to develop and expand in nearly every direction. These technologies can help deliver larger, more accurate, and more solidly built models in a fraction of the time.”
This is a major claim and one that’s going to be difficult to justify with the present market conditions.
I can see this becoming true. Almost every industry is benefiting from 3d printers. Now with new faster and cheaper 3d printers even small businesses could benefit from it. A lot of people are also buying it as a hubby for their home.
cheers