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3D Print Market Set For Big Leap

3D Print Market Set For Big Leap

The 3D printing market is poised for steep growth in coming years, with new printing capabilities set to emerge, according to IDC.

IDC forecasts global revenues for the market will reach US$35.4 billion in 2020, more than double the US$15.9 billion forecast for 2016, representing a compound annual growth rate of 24.1 percent over the forecast period.

It estimates that 3D printers and materials will represent nearly half the total worldwide revenues throughout the forecast, while software and related services are also poised for significant growth.

Revenues for computer-aided design software are forecast to triple over the forecast period, with the market for on-demand parts services nearly matching this growth.

This year, use cases generating the largest 3D printing revenues are automotive design – rapid prototype printing (more than US$4 billion), along with aerospace and defence parts printing (nearly US$2.4 billion), and IDC noting that dental printing has also emerged as a strong opportunity. – Channel News

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