Industry analyst firm IDC is predicting rapid expansion of the 3D printing market in a new report. The global market intelligence and advisory services provider is predicting a 27% compound annual growth rate, from nearly $11 billion in 2015 to $26.7 billion by 2019.
The report says that growth will in large part be driven by businesses in specific industries using 3D printing to attain greater levels of customization for servicing individual customer needs and requirements.
“3D printing has been a mainstay in specialized discrete manufacturing markets like automotive and aerospace for many years. However, in just the past three years, lower-priced 3D printers and affordable materials have dramatically widened the market for 3D printing to now enable consumer, education, healthcare and additional manufacturing markets. That said, 3D printing availability doesn’t translate similarly across industries. Vendors and service providers need to understand how differences in use cases, materials cost, and end customer expectation are uniquely shaping each market,” explained Vice President of IDC’s Consumer Insights and Analysis Group Christopher Chute.
Full story at 3DPrint.com.