Enormous Growth Potential Projected for 3D Printing through 2029
Several industries are now seriously analyzing the benefits and competitive edge that 3D printing can lend their operations.
The global market for 3D printing equipment, materials, software, and services is estimated to be worth $31 billion by 2029, according to a recent market research study from IDTechEx Research. After initial commercialization in the 1990s, 3D printing underwent a period of intense interest in 2013. Key players were quick to capitalize on this interest, enjoying exponential revenue growth from 2013-2016 as a result.
Since then, the hype has subsided and additive manufacturing is starting to find its place among other manufacturing methods. In particular, focus has now shifted away from the consumer and rapid prototyping, and toward the digitization of workflows and the manufacture of production-quality final products.