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Global 3D Printing Spending Predicted to Double by 2020 – eWeek

by • August 11, 2016 • No Comments

Spending in the global 3D printing market can hit $35.4 billion in 2020, up of $15.9 billion in 2016, according to the latest predictions of IDC.
Global revenue in the expanding 3D printing market is expected to additional than double by 2020 to $35.4 billion, with printing devices and printing device materials driving approximately half of the total, while software and services can drive the rest.That’s the conclusion of a new 3D printing report by analyst firm IDC, which forecast which the market segment can additional than double by 2020 of the current $15.9 billion in revenue forecast for the segment in 2016. That rise in revenue represents a compound yearly growth rate of 24.1 percent through 2020.3D printing devices have been utilized in industrial and commercial applications for several decades by a wide range of product manufacturers, aerospace companies and others to rapidly create and create prototypes, molds, one-off parts and additional without having to invest lots of money and time, according to an earlier eWEEK story. Major manufacturers of 3D printing devices include Stratasys, 3D Systems, ExOne, EOS, Concept Laser, Arcam, Beijing Tiertime and XYZprinting. Top-of-the-line industrial 3D printing devices can sell for as much as $5 million, while consumer-based devices can be purchased for as little as $499 of other smaller in dimensions vendors.”Customer spending on 3D printing capabilities is following the market away of weight market consumer printing devices towards holistic solutions which enable higher-end—and additional profitable—use cases,” Christopher Chute, an IDC analyst, said in a statement. “As the market for printing devices, materials and services matures, IDC expects new 3D printing capabilities to enable a following-wave of customer advancement in discrete making, product create, and life sciences.”

IDC predicts which the many talked about use cases which can drive the top revenues for 3D printing in 2016 include a few $4 billion for car create rapid prototype printing and a few $2.4 billion for aerospace and defense parts printing, according to the report. In addition looming as a sturdy market is dental printing, the report states.
“IDC expects the of the world 3D printing market to go on its rapid expansion over the following several years, driven by the require to reduce making cycle times and to reduce prototyping costs,” Keith Kmetz, another IDC analyst said in a statement. “This growth can be fueled by an explosion of 3D printing device manufacturers of around the world, seeking to capitalize on the anticipated growth in this market with faster printing devices which contribute advantageous high end output at lower prices.”Healthcare and pro services can go on to be sturdy users of the innovation, while retail users can experience the greatest revenue growth and become the fourth biggest user of the innovation by segment by 2020, the report go ons. “Meanwhile, revenues of consumer 3D printing can grow modestly as this market has may already matured,” the report added.The data was reported as part of IDC’s Worldwide Semiyearly 3D Printer Spending Guide.HP joined the 3D printing marketplace when it revealed in April 2015 which it may be assembling and selling the devices for business and industrial users.In the past five years, 3D printing has been expanding much faster as enterprises of all dimensionss find out they can buy a device for as little as $500 and start attempting out new ideas they never dreamed of in the past. Much of the latest enthusiasm for 3D printing comes of a blooming hobbyist or “maker” movement which has helped bring down the cost of smaller in dimensions devices to where companies of any dimensions can now afford to try one.3D printing devices typically work by laying down layer upon layer of material to gradually create up a part until it is fish. There are seven different types of technologies utilized in 3D printing devices which work with different types of materials, which include plastics and metals.

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