3D printer market 'incredibly' good ahead of HP's arrival

Falling prices and more choice see shipments grow by more than half

Investment from enterprise IT vendors has helped boost the 3D printer market in 2014 as they prepare to compete with HP when it enters the space next year, according to Canalys.

In 2014, global revenue from 3D printers and associated services and materials rose 34 per cent to $3.3bn (£2.2bn). Shipments rose 68 per cent to 133,000 over the same period, the analyst said.

Total revenue from 3D printers smashed the $1bn mark in a single quarter for the first time in Q4.

Falling prices and a widening choice of products fuelled the growth, Canalys said. Some 42 per cent of 3D printers were shipped in the Americas, EMEA accounted for 31 per cent and the remaining 27 per cent shipped in the Asia-Pacific region.

The majority – about three quarters – of all 3D printers were priced under $10,000, Canalys said, adding that innovation has been fuelled by companies' success on crowdfunding sites such as Kickstarter.

"We've seen the 3D printing industry go from strength to strength in 2014," said research analyst Joe Kempton. "As we expected, the holiday season saw the most significant growth, particularly in the consumer segment, with many users buying their first 3D printer. A combination of falling prices, a wider range of technologies on offer and improved printing speeds helped fuel this demand."

But it is not just the consumer space that is latching onto 3D printers, Canalys' vice president for analysis Rachel Lashford said.

"We also saw incredibly healthy growth from the enterprise side of the market," she said. "Vendors such as Voxeljet improved their performance, buoyed by impressive Q4 results. Many 3D printing companies have begun to ramp up spending on research and development to prepare for HP's move into the market in 2016."