3D Printing Forecasted to Grow 45.7% by 2018
According to Canalys, in 2013, the 3D market grew 109% to $711 million. In 2013, the sale of 3D printers, materials, print services, and market amounted to $2.5 billion globally.
3D printing is expected to grow 45.7% from 2013 to 2018. It is expected that there will be fast growth in this industry segment for years to come, as it continues to reach new frontiers.
Since its introduction to the market, 3D printing has improved, and it has expanded exponentially over the past couple of years. There are now fewer limits on what types of materials may be printed. The overall print time has been significantly reduced. Also, the costs associated are dropping as the technology becomes integrated into the market.
There is a growing demand for this type of printing. For now, Canalys predicts that “print-to-order services” will enjoy further growth as penetration of the technology advances. Offering 3D printing services for print providers will be of great benefit to companies. 3D printing offers customization not offered by traditional print technologies. Canalys Research Analyst Joe Kempton states, “Demand will continue to grow, driven by three main factors: customization potential, convenience, and manufacturing efficiencies.”
At this point, 3D printing has proven its ability to create tangible, innovative, complex products. It is no longer a new “hyped” technology that will soon disappear. The validity of 3D printing has cemented its share of the expanding market. As the market continues to expand, there will be new entrants and improvements made that will change the face of 3D printing.
About: Canalys is an independent analyst company that strives to guide clients on the future of the technology industry and to think beyond the business models of the past.
Canalys has launched a new 3D printing analysis service, designed to inform and support vendors engaged in strategic planning relating to this fast-evolving market. It provides both qualitative and quantitative analysis, including market sizing and forecasts, vendor profiles, analytical reports and inquiry support.
Source: Canalys, 3D printing market to grow to US$16.2 billion in 2018, March 31, 2014.