The global 3D printer market will reach US$5.2 billion this year, up from US$3.3 billion in 2014, growing 56 percent, according to Calanys.

This is expected to grow further to US$20.2 billion by 2019, representing an expected compound annual growth rate (CAGR) of 44 percent from 2014 to 2019.

“As we expected, the 3D printing market has grown substantially over the past few years. We have seen improving print speeds, a wider range of materials and new forms of additive manufacturing methods. There has also been a substantial increase in the number of vendors entering this space, with many coming from Asia, challenging the previous dominance of 3D printing hotspots such as Germany and the US. Long-existing vendors such as Stratasys and 3D Systems are well placed to take advantage of this growth but may find their dominant positions challenged by newer rivals,” said Joe Kempton, Research Analyst of Canalys.