3D Printing Market Poised For Growth And Change
The 3D printing vendor landscape is on course for a significant shift in the coming years with the market poised for growth, according to Canalys.
Canalys forecasts that value for the worldwide market for 3D printers, and associated materials and services, will reach US$4.9 billion by the end of the year.
The total market is expected to grow by a compound annual growth rate of 43.5 per cent from 2015 through to 2020, reaching a value of US$22.4 billion, while shipments are forecast to grow at a compound annual growth rate of 67.2 per cent, reaching 2.4 million units by 2020.
In 2015, vendors shipped 182,000 3D printers worldwide, up 37 per cent year-on-year, with strong performances in both the enterprise and consumer sectors. Canalys found that industrial expenditure on 3D printers fell, while educational establishments ordered thousands of systems for their students
Taiwanese vendor XYZprinting held onto the top spot as the world’s largest 3D printer vendor, making up 38 per cent of total shipments.
Canalys analyst Joe Kempton observed that it was “a tough year for many large vendors” last year, with many struggling to maintain growth rates, resultantly having “been forced to take stringent cost-cutting measures”.
“Some, such as 3D Systems, have even been forced to leave an entire section of the industry,” Kempton commented. “At the low end of the market, this has cleared the way for many new vendors to fill the gap, launching 3D printers at ever lower prices.
“At the high end, companies have been left vulnerable to attack from newer enterprise-focused vendors, such as HP, which are just starting to enter the market.
“As a result, Canalys expects to see a dramatic shift in the 3D printing vendor landscape over the course of the next few years, and we will likely see substantial consolidation occurring in the market as some vendors are forced to leave.”