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3D Printing to Be $20 Billion Dollar Industry by 2019

3d CAD servicesDid you know that in 2014, 3D printing made a total of $3.3 billion in revenues? That’s up a full 34 percent from 2013. What’s fueling the surge in this market? The most obvious reason lies with the fact that prices are decreasing and more people are able to make purchases in this area.

According to market researcher Canalys, nearly 133,000 3D printers were shipped globally in 2014, a 68 percent increase over the previous year. Revenue from the market included associated materials and services.

The research also showed that many used last holiday season to take advantage of 3D printers. More printers were purchased during November and December 2014 than the rest of that year!

America accounted for 42 percent of those sales. Each printer sold during the fourth quarter of 2014 was priced under $10,000. This is exciting news for those hoping to own one in the future!

Another reason for lower pricing is due to the fact that there are now more companies making 3D printers and selling them. That means competition in this area is rising and prices will continue to decrease.

A $20 Billion Dollar Industry

Research also shows that by the end of the decade, 3D printing will become a $20 billion industry! While that might be hard to believe, the numbers don’t lie. Based on 2014’s 3.3 billion dollar sales, 2015 will increase up to $5.2 billion. This will continue, bringing this market a double digit number by mid to late 2016! And then, by 2019, sales will increase to $20 billion!

3D printing is expected to move further into the manufacturing market, as well as being used at-home or in the office. Why order a product or replacement part when you can just print one at home or work!?

As we’ve stated in previous blog posts, 3D printing is also gaining – and will continue to gain – traction in the automotive, medical and manufacturing industries. Companies like BMW and General Electric are already using this option. They’ve also invested a great deal of money in the advancing technology.

This technology isn’t going away anytime soon! In fact, it’s gaining popularity every single day! If you’d like to learn more about 3D printing and its advancements, be sure to visit with other blog posts, below:

  • 3D Printing Advancing Medicine
  • CAD Users Plan to Use 3D Printing, but Not Right Now
  • Why 3D CAD Models Are Used in the Design Process
  • 3D Printing Growth Trend in CAD Industry
  • The Future of 3D Printing
  • Types of 3D Printers for CAD Drafting Companies
  • Benefits of Having a 3D Printer for CAD Drafting Services

High Quality 3D CAD Services

If you need help with AutoCAD and are interested in lowering costs within your business, you might want to consider outsourcing all your 3D CAD services. When you outsource your 3D CAD needs, you’re able to decrease your design time, as well as, gain the ability to outsource your engineering or architectural tasks as well. We strive to offer you the best customer service, attention to detail, and pricing available!

If you want to grow and succeed to new levels, while lowering overhead costs and gaining profitability, then call Indovance today. You won’t be sorry you decided to take advantage of our AutoCAD and CAD drafting services!

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