Industrial 3D printing market is anticipated to grow US$ 7 billion by 2024

Industrial 3D printing is also referred as additive printing technology that enables manufacturers to develop objects using a digital file and variety of printing materials. Global market for 3D printing material include polymers, metals and ceramics. In addition, industrial 3D printing offers a wide array of applications in various industries.

The Industrial 3D Printing market is expected to exceed more than US$ 7 Billion by 2024 at a CAGR of 27% in the given forecast period.

The scope of the report includes a detailed study of Industrial 3D Printing market with the reasons given for variations in the growth of the industry in certain regions.

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IDC forecasts worldwide spending on 3D printing to be nearly $12 billion in 2018

The International Data Corporation (IDC) has updated its Worldwide Semiannual 3D Printing Spending Guide forecasting market-wide spending on additive manufacturing throughout 2018.

IDC’s international team of analysts looked at key markets across 9 regions including Europe, Asia/Pacific and the U.S.

In the trifecta of 3D printing, hardware will constitute $6.9 billion, materials $6.7 billion, and software will experience a slower growth than the rest of the market.

Chart showing top spends by application as forecasted by IDC. Image via IDC

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