3D printing revenue set to more than double by 2020

Global revenue will break the $35bn barrier within five years

Global 3D printing revenue will more than double by 2020, according to IDC

Hot on the heels of HP's entry into the market, the analyst market claims that 3D print revenue will surge from $15.9bn this year to $35.4bn in 2020.

"Customer spending on 3D printing capabilities is following the market away from mass market consumer printers towards holistic solutions that enable higher-end - and more profitable - use cases," said Christopher Chute, vice president of customer insights and analysis at IDC.

"As the market for printers, materials and services matures, IDC expects new 3D printing capabilities to enable a next wave of customer innovation in discrete manufacturing, product design, and life sciences."

In 2016 discrete manufacturing will make up 56 per cent of global printing revenue, IDC added.

Printers and materials will represent nearly half of the predicted 2020 revenue, with the rest being made up of software and related services.

Revenues for computer-aided design (CAD) software are expected to triple, as is the market for on-demand parts services.

Automotive design will make up the biggest share of the revenue, with healthcare and professional services expected to be the second and third largest industries, IDC said.