[penci_blockquote style=”style-2″ align=”none” author=”” uppercase=”false”]The New Report from 3D Hubs reveals market sentiment & forecasts, analysis of online demand, 3D printing VC funding, expert insights from HP, Formlabs, Carbon and Deutsche Bahn’s Medical Goes Additive.[/penci_blockquote]
A new report released by 3D Hubs — the global leader in distributed manufacturing reveals that the 3D printing market is poised to grow at record speeds in the coming years. According to the top analysts interviewed by 3D Hubs, the total 3D printing market will continue to double in size approximately every three years.
According to the report, North America and Europe are the clear leaders in online 3D printing, representing together more than 95% of the global demand. US businesses account for nearly 50% of the global online 3D printing demand. UK firms are the most avid 3D printing users, accounting for over 12% of global online 3D printing, surpassing even the state of California.
The 3D Hubs 3D Printing Trends 2020 report, which includes insights from its own order database, and a systematic review of the news and market analyst reports also reveals that over 550,000 parts were 3D printed last year using its platform and the total value of 3D printed parts tripled.
Key findings from 3D Hubs 3D Printing Trends 2020 Report
1. The total value of 3D printed parts increased by 300% in 2019, suggesting a shift away from the high-volume, low-value consumer market and into the workflows of professional users.
2. The year 2020 will see breakthrough applications in 3D printing where Additive Manufacturing will replace traditional manufacturing methods, as stated by HP.
3. 3D printing is now adopted by the early-majority for serial production. With ubiquitous applications across multiple industries – including Automotive, Aerospace, Maritime, Medical, Space, Sports, Motorsports, Railway, and Defence – 3D printing is changing new product development and aftermarket supply chains globally.
4. 3D printing entrepreneurship is strong and driven by applications. A record-high $1.1B+ was raised by 3D printing startups in 3D printing in 2019 alone. Applications of 3D printing are attracting the largest number of investors.
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5. The 3D printing market keeps growing at record speeds. Top analysts agree that, as adoption steadily increases, the total 3D printing market will continue to double in size approximately every three years, despite current poor returns of publicly traded 3D printing companies.
6. Professional users are turning to online manufacturing platforms. The plethora of 3D printing materials and systems make it impossible for companies to invest in in-house capabilities that cover all use-cases. Many professionals choose online manufacturing platforms as the most competitive solution to fulfill their serial 3D printing production needs.
7. 3D printing is only one part of the new digital manufacturing stack. Joined by other digital manufacturing technologies, such as CNC machining and low-run injection molding, and empowered by digital supply chains and smart factories, 3D printing is forming the new manufacturing landscape.
About 3D Hubs: 3D Hubs is an online manufacturing platform that provides engineers with on-demand access to a global network of manufacturing partners. Users can easily upload their design, instantly receive a quote, and start production at the click of a button.
About Manufactur3D Magazine: Manufactur3D is an online magazine on 3D Printing. Visit our Global News page for more updates on 3D Printing Technology News. To stay up-to-date about the latest happenings in the 3D printing world, like us on Facebook or follow us on LinkedIn.