Essential tech news

3D printing industry is expected to be worth US$16bn in 2020.

3D printing is quickly becoming mainstream as a growing number of businesses now use this technology to improve their speed and flexibility while reducing costs.

New research from LearnBonds has revealed that revenue from the global 3D printing industry is expected to continue its surge and grow by 155 percent to reach US$40.8bn in value by 2024.

As 3D printing enables the production of complex shapes using less material than traditional manufacturing methods, it is widely used for small production runs, prototyping new products and in education and medicine.

According to Wohlers Associates annual report, the global 3D printing industry is expected to be worth US$16bn this year. However, in the next two years, the market revenue of this industry is forecast to reach US$25.5bn. Statistics show that this strong upward trend is likely to continue in the following years with market revenue growing by a compound annual growth rate of 26.4 percent between 2020 and 2024.