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Consumer 3D Printing Market Expected to Reach $576 Million in Revenues by 2018

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Consumer 3D Printing Market Expected to Reach $576 Million in Revenues by 2018

October 13
20:08 2014

Global consumer 3D printing market revenue
Consumer 3D printing is a niche sub-segment of the global 3D printing market. The term additive manufacturing or 3D printing refers to process of getting printed an object of any shape from a digital model. The process is performed through a digital technology i.e. CAD(Computer aided design).

The future of global Consumer 3D Printing is positive, with the market expected to grow from around $85 million in 2013 to a stunning $576 million in revenues by 2018. This is primarily due to a few influential reasons, which started with a steady stream of mergers, the latest among them being the merger of Stratasys with Objet. They further consolidated this with the acquisition of Makerbot in June 2013 for $403 million, which is yet another reason why the market is currently highly consolidated.  Stratasys and 3Dsystems are right now the two top players in the market.

The term 3D printing refers to the process of printing an object of any shape from a digital model. The process is performed through a digital technology, like CAD (Computer aided design). 3D printing is one of the most widely accepted emerging technologies at present, and its services are utilized by various industries like medical, automotive, consumer products, military, aerospace, academics, construction and others.

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At present, the consumer 3D printing market is growing at a very fast pace, and shows a 46.6% CAGR for next five years to come, which is indeed great news for those who would like to invest in this field. Moreover, it is decentralizing from USA to other parts of the world, where 3D printing is getting incredibly popular. 3DSystems has also proved to be active with a string of acquisitions of smaller companies (around 40) across the globe in the last two years.

The highest growth noted in this market is in USA at present, but both APAC and the European markets will contribute significant revenues in the next two years’ time, as many distribution channels and local manufacturing plants are geared up to enter into these markets. Also, a new wave of companies is supposed to start up in 2014 after the expiration of a few key patents in the laser sintering technology in the year 2014. The expiration of those patents will lead to more research and experimentation for new innovations in this field.

3D printers are popular in the industries, but certain entry level printers for consumers, which can produce products of relatively smaller volume, is presently available for purchase by households, hobbyists, educational institutions. These printers are pretty cheap, and Makerbot is considered to be the pioneer of this market, followed by other companies like Solidoodle, Ultimake and others. These companies take up and improve on the specifications from the open source models in the RepRap community, and it can be seen that the interest towards Consumer 3D printers is presently increasing.

IndustryARC notes a strong surge of growth in the consumer 3D printers market in the next few years. There are plenty of opportunity and growth prospects, and a detailed report shows it perfectly. The high annual compound growth rate makes this field a great one to follow in the next few years.

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