Industry Exceeds $3 Billion Milestone
FORT COLLINS, COLORADO, USA, May 1, 2014—Wohlers Associates, Inc. today announced the publication of Wohlers Report 2014. The report marks the 19th consecutive year of its availability. The new publication provides an in-depth review and analysis of additive manufacturing and 3D printing—terms that are used interchangeably—worldwide. It includes industry growth, competitive products and services, and a futuristic perspective on an industry that has created tremendous interest and excitement in the recent past.
The market for 3D printing, consisting of all products and services worldwide, grew to $3.07 billion last year, according to the new report. The compound annual growth rate (CAGR) of 34.9% is the highest in 17 years. The growth of worldwide revenues over the past 26 years has averaged 27%. The CAGR for the past three years (2011–2013) was 32.3%.
Wohlers Report 2014 is a comprehensive study that covers all aspects of 3D printing, including its history, applications, processes, materials, and manufacturers. It covers developments in R&D, investment, collaborative activities in government, academia, and industry, and summarizes the state of the industry from around the world.
Wohlers Associates believes the industry will continue strong growth over the next several years. It will be fueled by sales of under $5,000 3D printers, as well as the expanded use of the technology for the production of parts, especially metal, that go into final products. “The industry is experiencing change that we have not seen in 20+ years of tracking it,” stated Tim Caffrey, senior consultant at the company and one of two principal authors of the new report. He added, “What’s most exciting is that we have barely scratched the surface of what’s possible.”
The 276-page annual study is packed with up-to-date and practical information that includes 35 charts and graphs, 60 tables, and 248 images and illustrations. The report, which sells for US$495, was created with support from 82 service providers, 29 system manufacturers, and the valuable contributions of 70 co-authors in 24 countries.
About Wohlers Associates:
Established in 1986, Wohlers Associates is an independent consulting firm that provides technical, marketing, and strategic advice on the new developments and trends in additive manufacturing, 3D printing, and rapid product development. Wohlers Associates has completed consulting projects for more than 240 client organizations in 24 countries around the world. The company has also provided detailed advice to 150 companies in the investment community. For more information, visit http://wohlersassociates.com.