An invention that leads to the creation of 3D objects, the 3D printing technology was first introduced in the market in the late 1980s, and the technology was referred to as Rapid Prototyping (RP) technologies in the year 1986 to be more precise.
Global 3D Printing Market Forecast
The Global 3D Printing Market is forecasted to grow from USD 1.6 Billion in the current year 2015 to USD 13.4 Billion in 2018 at a CAGR of 103.1% (Source: Gartner market analysis). If we talk about other market research reports, then Allied Market Research (AMR) visualize the Global 3D Printing Market to grow from USD 2.3 Billion in the year 2013 to USD 8.3 Billion in 2021 at a CAGR of around 20.60%.
In terms of revenue, the Global 3D Printing Market is expected to grow in value from USD 3.07 Billion in 2013 to USD 12.8mBillion by 2018 and would exceed USD 21 Billion in worldwide revenue by 2021 (Source: Wohlers Report 2014).
Global 3D Printing Market: Use of Industrial Additive Manufacturing (AM)
Industrial Additive Manufacturing (AM) has a diversified use in various fields globally. The Whalers research report of 2013 depicts the use of Industrial Additive Manufacturing in various areas.
As per Wholers Research Report, 2013, industrial AM is majorly used in Functional Parts with 28.1%, followed by Fit & Assembly with 17.5%, Patterns for prototype tooling (11.3%), Patterns for metal Castings (10.8%), Visual Aids (10.4%), Presentation models (9.5%), Education/Research (6.4%) Tooling Components (4.8%) and Other counts for (1.3%).
Global 3D Printing Market: Market Leaders
Following is the list of top 10 companies in 3D printing with their yearly Turnover:
- Strays: $750 Million
- 3D Systems: $650 Million
- Materialise: $81 Million
- ExOne: $43.9 Million
- Arcam: $39 Million (340 Swedish Krona)
- SLM Solutions: $36m (€33.6m)
- Alphaform $30 Million (€ 29 Million)
- voxeljet: $17 Million -18 Million (€ 16 Million -17 Million)
(In 2016 Year)