Online Learning Update

August 27, 2016

Report: 3D Printing Market to Double by 2020

Filed under: Online Learning News — Ray Schroeder @ 12:02 am

By Joshua Bolkan, THE Journal

The 3D printing market will reach $35.4 billion in 2020, according to a new report form International Data Corp. (IDC). That total is more than double the revenue projected for this year and would constitute a 24.1 percent compound annual growth rate over the course of the period forecast. “While 3D printers and materials will represent nearly half the total worldwide revenues throughout the forecast, software and related services will also experience significant growth,” according to a news release. “Revenues for computer-aided design (CAD) software are forecast to triple over the five-year forecast period while the market for on-demand parts services will nearly match this growth. The gains in both software and on-demand parts printing are being driven by the rapidly expanding use of 3D printing for design prototyping and products that require a high degree of customization in non-traditional environments.”

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