24/7 Customer Service (800) 927-7671

Research and Markets Predicts Global 3D Printing Market to Reach $30 Billion by 2022

by • April 23, 2016 • No Comments

3dp_research_markets_logoMarket researchers have long been predicting the rapid and exponential growth of the 3D printing industry, and so far they have been proven correct. In fact, most of the early industry predictions have been conservative if anything and under-reported the explosive growth of the industry. The 3D printing market has proven itself to be remarkably resilient, actually in the face of its two biggest companies flailing on the stock market. Back in 2013, when investing in Stratasys and 3D Systems were considered certain things, the outappear for the industry was positive, but it wasn’t until both companies started to pull back of the computer market that 3D printing device sales started to really increase.

The da Vinci 1.0 AiO 3D Printer of XYZprinting.

The da Vinci 1.0 AiO 3D Printer of XYZprinting.

New, upstart 3D printing device manufacturers like XYZprinting and FlashForge easily filled in the gaps left behind by the falling computer sales of Stratasys, and the total evacuation of the computer market by 3D Systems. But, beyond computer 3D printing, the real stars of the industry are the higher priced industrial high end 3D printing devices that have been finding themselves brought into a rapidly expanding list of industries putting them to work creating high-high end, low-volume or one-off 3D printed parts. Markets like the car industry and the aerospace industry have rapidly introduced these industrial 3D printing devices to their workflows, and they have in addition discovered a lot of use in different types of medical and dental applications.

It appears 3D printing is the little industry that may, for the reason it does not appear like its growth is going to be slowing down any time soon. A new market research report of Research and Markets is waiting for a massive increase in global 3D printing device sales over the following six years. The 3D printing market, that consists of 3D printing devices, 3D printing materials, 3D printing services and 3D printing software, reached $4.98 billion in 2015. That market is expected to balloon to $30.19 billion by 2022, that is an astounding compound yearly growth rate of 28.5%.

3dp_source3_spark_logoThe report suggests that the growth inside the computer market is being driven by the rapid drop in the cost of 3D printing innovation, as well as technological advancements that have improved the high end and reliability of the innovation. The introduction of newer 3D printing processes like multi jet 3D printing devices that allow multiple material and color options can in addition assist drive new sales. Additionally, open 3D create and workflow software platforms like Autodesk’s Spark and Adobe Photoshop’s new integrated 3D printing showcases have created the innovation simpler for beginners to adopt and companies to assimilate into existing business models.

Industrial growth is being driven by a expanding desire for customized products, the benefits of via 3D printing for industrial uses and prototyping, and government investments and grants for 3D printing applications and programs. The aerospace & defense, healthcare, industrial, and consumer product manufacturers are the leading industries that accounted for the leading share of the 3D printing market in 2015. Whilst they are expected to go on to dominate the market for the foreseeable next, educational uses, 3D printed electronics, energy, and the jewelry market are expected to show signs of worthwhile expansion during the report’s 2016-2022 forecast period.

Whilst leading industrial making, aerospace & defense, and healthcare companies located in the US all contributed to North America dominating the 3D printing market in 2015, the US may not remain on top for long. The report is predicting that the Asia-Pacific (APAC) region, primarily China and Japan, can grow at a faster rate than North America between 2016 and 2022. Government initiatives, increased R&D funding, and extensive industrial infrastructures are the leading facts that can be contributing to the growth of the APAC 3D printing market.3dp_idc_growth

As the biggest industry market research company, the fact that Research and Markets is now compiling data for 3D printing is itself a signal that 3D printing is becoming a leading world player. Their title of their 3D printing research and forecast report is really a mouthful, but it shows precisely how dense and segmented their data set is presented. They wouldn’t call it the “3D Printing Market by Printer Type, Material Type (Metals, Plastics, Ceramics & Others), Material Form (Powder, Liquid, Filament), Process, Technology, Software, Service, Application, Vertical and Geography – Global Forecast to 2022” report if it wasn’t worth dividing the industry up so thoroughly. What do you ponder of this information? Discuss in the Future 3D Printer Sales Globally forum over at 3DPB.com.