Dec 22, 2016 | By Benedict
A new report from Deloitte Poland has consolidated a number of 3D printing projections and forecasts, producing an aggregate projection for the market through 2025. Deloitte puts the current global 3D printing market at $4.8 billion, and expects it to reach $20.5 billion by 2020.
Polish 3D printer manufacturer Zortrax commissioned Deloitte’s 3D Printing Market Outlook
With the 3D printing industry taking so many twists and turns in a short space of time, it’s hard to find consensus on market performance. That’s why consulting firm Deloitte Poland has investigated a number of industry reports to provide an aggregated forecast of the market until the year 2025. Deloitte’s 3D Printing Market Outlook report also covers leading and emerging manufacturers in the professional and prosumer (professional/consumer) desktop 3D printing arena.
Starting with the size of the 3D printing market today, the Deloitte industry report plucks different figures from different sources: SmarTech says $3.7 billion, Smithers Pira says $5.9 billion. The consensus figure, according to the Deloitte report, is therefore right in the middle at $4.8 billion.
Different organizations estimate different values for the 3D printing industry today (amount in billions USD)
Looking to the future brings up more serious differences of opinion, and for the year 2020, projections start to get further apart: Context World conservatively forecasts a market value of $16 billion, while ARK Invest says $41 billion. By 2025, the estimates are further apart still: Lux Research predicts a market value of just $12 billion, while McKinsey forecasts 3D printing revenue of $180 billion, minimum. Aggregating these reports, Deloitte expects the total 3D printing market to be worth $20.5 billion by 2020.
The Deloitte report suggests that there are several reasons why 3D printing is likely to grow above its current one percent stake in the multi-trillion-dollar manufacturing industry. One of these reasons is the emergence of new names in the additive manufacturing world like HP, whose Jet Fusion 3D printer was released earlier this year, and whose involvement in 3D printing will likely bring new credibility to the industry. Better materials and finishing capabilities will also encourage growth, according to the report.
The Deloitte report compares different 3D printing technologies
Perhaps surprisingly, Deloitte’s 3D Printing Market Outlook report forecasts significant growth in the desktop 3D printer market, this despite major 3D printing companies like 3D Systems publicly announcing plans to move away from this area of the market and firmly into industrial additive manufacturing. As evidence for a potential upturn in the desktop 3D printing market, the Deloitte report cites improved FDM 3D printing, as well as new desktop options besides FDM.
“In terms of sales revenues, the desktop segment generating $293 million represents a small share of the overall AM market—although a small segment, however, the desktop segment posted an impressive annual revenue growth of 62% in 2015,” said Mark Cotteleer, Research Director, Deloitte Services LP. “While desktop 3D printers were earlier used by hobbyists or for limited use in the education sector, these printers are increasingly finding applications in diverse industries such as engineering, product design, art, jewelry, dentistry, and consumer products.”
The Deloitte 3D printing reports highlights certain companies that could make an impact in the desktop 3D printer market in the coming years. These include Ultimaker, Formlabs, Flashforge, XYZprinting, and Zortrax. Zortrax, maker of the M300 3D printer, was also responsible for commissioning the report.
This chart shows an increase in desktop 3D printer use, but does not represent the large difference in value between desktop and industrial 3D printers
“With more companies exploring new and exciting ways to utilize the technology, we are sure to see success stories surrounding the use of 3D printers spread,” commented Bartłomiej Cymer, Zortrax Marketing Director. “The high quality offered by desktop printers, combined with their affordability, is opening new opportunities for business owners.”
Although forecasts from an organization of Deloitte’s status should be taken very seriously, it should be noted that the data itself only half-suggests that desktop 3D printing will continue to grow in relation to the rest of the additive manufacturing market. Because while an annual revenue growth of 62% within the desktop 3D printing market (2015) is impressive, larger growth in industrial 3D printing will likely see more manufacturers of desktop 3D printers jumping ship to capitalize on growing interest in larger, production-ready 3D printers.
Posted in 3D Printing Technology
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