The 3D print market grew by almost 35 percent in 2013, according to research from Wohlers Associates.
The increase in the 3D print market, which is the fastest growth seen in 17 years, was detailed in a report from the independent consulting firm, of Fort Collin, Colorado.
Wohlers also revealed that the sales of consumer 3D printers priced under £3000 - along with the direct manufacturing of finished parts - will allow this period of strong growth to continue over the next several years.
The 3D print market grew to $3.07bn (€2.20bn) in 2013, according to Wohlers Associates - marking a compound annual growth rate of 34.9%. The compounded annual growth rate for the past three years was 32.3%. The data includes all products and services, including 3D printing machinery. Wohlers Associates also said that the growth of worldwide revenue has averaged 27% over the past 26 years.
Tim Caffrey, senior consultant at the firm, stated that he believes the 3D print market has a promising future - particularly when it comes to the low-cost, personal 3D printers and high-end models that can produce parts.
“The industry is experiencing change that we have not seen in 20-plus years of tracking it,” Caffrey said. “What’s most exciting is that we have barely scratched the surface of what’s possible.”
The 276-page report, which was created with input from 82 serviced providers, 29 system manufacturers and the contributions of 70 co-authors in 24 countries, gives an in-depth review and analysis of the 3D print market.