Whether they pump out parts themselves or contract with on-demand services, business demand for 3D printed objects will push the market to more than twice the size of what it is today.
IDC's just-released forecast predicts that worldwide spending on 3D printers, along with the associated software, materials and services, will reach $28.9 billion in 2020, compared to an estimated $13.2 billion in 2016. That lofty figure represents a compound annual growth rate (CAGR) of 22.3 percent over the five-year forecast period.
Unsurprisingly, the discrete manufacturing industry will be firmly in control of the market, responsible for more than two thirds of revenues for the foreseeable future.
