In 2017, 3D printing proved to be a resilient industry that is highly dynamic and capable of adapting to meet the needs of various other industries. 2018 seemingly looks to add even more to this constantly evolving sector of technology. In an email sent to Investing News Network (INN), Tim Greene, a research director at the International Data Corporation (IDC) said that moving into 2018 he expects “more of the same” in the 3D printing sector, which he says is “a dynamic market that is marked by what seem like breakthroughs at least once a week.”
According to Greene, “We’ve got companies that want to implement 3D printing technology potentially as a substitute for their existing processes which have been the basis of their businesses for many years…”
Greene continued on to explain that there is a rapidly growing interest in the automation and workflow of 3D printing as the companies look to take advantage of the technology’s various advantages.
Companies won’t be the only ones forecasted to benefit from 3D printing in the coming year. According to Amit Dror, CEO of Nano Dimension (TASE:NNDM,NASDAQ:NNDM) told INN that he expects more players to enter the market, continuity in technology maturity and more end-applications.
“I believe that we will also see the market growing for customer-driven applications,” he said.
2018 Outlook: 3D Printing Developments
As previously referenced, 3D printing is a highly dynamic, rapidly growing industry with a world of potential. Many of the technologies we’ve seen launched in 2017 will certainly come to fruition in 2018. According to Tim Greene, “There were some really exciting developments with some … production configurations, some much lower-priced metal printing systems, and even some color 3D printing technology for making truly accurate prototypes.”
Keith Kmetz, program vice president at IDC, very much agrees with Greene, telling INN “There’s a lot of exciting potential that’s been talked about for years, we’re getting closer to fruition.” He also explained that the room for growth in the market is immaculate and will continue to spread due to the ability to produce better performing parts faster and cheaper.
As we enter 2018, it is expected to see:
- Build size increases
- Performance and speed improved
- Development of support for metal and color outputs
- Final part production advancements
- More manufacturing capabilities
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2018 Outlook: Future Market Growth for 3D Printing
Numbers don’t lie. The overall market predictions for 3D printing are very attractive for the foreseeable future. According to Market and Markets, the industry is expected to have a $32.78 billion value by the year 2023, with an annual growth rate of 25.76 percent between 2017 and then. According to their report:
“The growth is attributed to the factors such as the ease of development of customized products, ability to reduce overall manufacturing costs, and government investments in the 3D printing projects for the development and deployment of the technology,”
3D Systems and Markforged are both expected to be some of the main contributors to this incredible growth in financial value.
2018 Outlook: Investor Takeaway from 3D Printing
The 3D printing industry has made significant growth in previous years, with even greater expansion expected in the near future. With companies such as Google, BMW, Boeing, NASA and U.S. Military branches all investing heavily in the development of this revolutionary technology, the industry certainly seems to be a viable sector to invest in, fertile with financial opportunities for wise investors.