Menu
From $US3 billion to $US20 billion - Why the 3D printing market is set to explode

From $US3 billion to $US20 billion - Why the 3D printing market is set to explode

"As we expected, the 3D printing market has grown substantially over the past few years."

The worldwide market for 3D printers, and associated materials and services will reach $US5.2 billion by 2015, up from $US3.3 billion in 2014, growing 56 per cent.

This is expected to grow further to $US20.2 billion by 2019, representing an expected compound annual growth rate (CAGR) of 44 per cent from 2014 to 2019.

"As we expected, the 3D printing market has grown substantially over the past few years," says Joe Kempton, Research Analyst, Canalys.

"We have seen improving print speeds, a wider range of materials and new forms of additive manufacturing methods.

"There has also been a substantial increase in the number of vendors entering this space, with many coming from Asia, challenging the previous dominance of 3D printing hotspots such as Germany and the USA.

"Alongside this we have seen more ‘traditional’ technology players becoming increasingly involved in the market, bringing accelerated growth, which accounts for the fast evolving nature of the industry."

In the next five years, Kempton believes more companies will move in to establish their own niches, as 3D printing begins to permeate across more sectors.

The knock-on effect will be that long-existing vendors such as Stratasys and 3D Systems will be well placed to take advantage of this growth but may find their dominant positions challenged by newer rivals.

For much of the past decade, Kempton says the main growth in 3D printer shipments has been from material extrusion 3D printers, which make up the vast majority of the shipments seen in the consumer sector.

However, as a result of many expired or expiring patents, vat polymerisation is fast becoming a major growth sector in both the enterprise and consumer spaces, and these 3D printers will continue to fall in price and improve in speed and quality.

The aerospace, automotive, and medical sectors will continue to be the major revenue drivers going forward over the next five years, with companies such as GE, Boeing, and BMW investing many millions of dollars into the technology.

"While the enterprise space will undergo its own revolution from 3D printing, over the next few years we expect to see the consumer sector advance at a similarly rapid pace," Kempton adds.

"Many of these 3D printers will be plug-and-play, turnkey devices that will begin to hit the $500 sweet spot at which many consumers are likely to make impulsive purchasing decisions.

"However, this also necessitates improved performance, a wider range of available materials, as well as the simplification of 3D printing software to make it easier for these users to get the most out of their 3D printing experience, and become loyal buyers who are willing to upgrade to more expensive and prosumer-focused 3D printers."

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags 3d printingCanalys

Featured

Slideshows

Examining the changing job scene in the Kiwi channel

Examining the changing job scene in the Kiwi channel

Typically, the New Year brings new opportunities for personnel within the Kiwi channel. 2017 started no differently, with a host of appointments, departures and reshuffles across vendor, distributor and reseller businesses. As a result, the job scene across New Zealand has changed - here’s a run down of who is working where in the year ahead…

Examining the changing job scene in the Kiwi channel
​What are the top 10 tech trends for New Zealand in 2017?

​What are the top 10 tech trends for New Zealand in 2017?

Digital Transformation (DX) has been a critical topic for business over the last few years and IDC is now predicting a step change as DX reaches macroeconomic levels. By 2020 a DX economy will emerge and it will become the core of what New Zealand industries focus on. From the board level through to the C-Suite, Kiwi organisations must be prepared to think and act digital when the DX economy emerges in 2017.

​What are the top 10 tech trends for New Zealand in 2017?
Top 15 Kiwi tech storylines to follow in 2017

Top 15 Kiwi tech storylines to follow in 2017

​The New Year brings the usual new round of humdrum technology predictions, glaringly general, unashamedly safe and perpetually predictable. But while the industry no longer sees value in “cloud is now the norm” type projections, value can be found in following developments of the year previous, analysing behaviours and patterns to formulate a plan for the 12 months ahead. Consequently, here’s the top Kiwi tech storylines to follow in 2017...

Top 15 Kiwi tech storylines to follow in 2017
Show Comments