3D Printing Market is Expected to reach $8.6 billion
According to a new report by Allied Market Research titled, “World 3D Printing – Market Opportunities and Forecasts, 2014 – 2020“, the world 3D printing market is estimated to garner $8.6 billion by 2020, registering a CAGR of 21% during 2015 to 2020. This surge in growth is primarily attributed to the rising demand for faster and efficient ways to manufacture complex design objects using a wide array of materials.
Key Findings of the Study:
- The materials segment would exhibit significant growth due to the increasing demands of 3D printing across various commercial and non-commercial sectors
- Electron Beam Melting segment is expected to witness fastest growth during the forecast period owing to its increasing application in aerospace, automobile, medical and industrial sectors
- Consumer products would continue to account for the leading market application during the forecast period (2015 – 2020)
- Europe would occupy approximately 2/5th share of the world 3D printing market by 2020
Prominent Players in the 3D printing Market:
- Stratasys Ltd
- Arcam AB
- Hoganas AB
- Organovo Holdings
- Voxeljet Ag
The leading players are focusing on the development of novel technologies complimented by product launch. For example, 3D Systems launched Cube 3 and CubePro 3D printers in 2014. These printers provide great speed with concurrent multi material and multi-color printing.
Passionate about entrepreneurship & helping entrepreneurs, and inspired by the ever-changing digital space, and our 3d printing-enabled future, Itai Levitan is an entrepreneur, marketer, investor, and adviser. Itai has been raised in Israel and the United States, educated in Australia and is now living in one of the coolest cities in Europe, Berlin. Itai Levitan is the Co-founder of Inside3DP.com