3D Printing –The “Tech Sector to Watch”

As 2016 begins, corporations, industries and market research experts are releasing their projections for the upcoming year, and so far, things are looking good for the technology sector. The start of a new year means a lot of things. Beyond resolutions and self-improvement goals, it also means something a lot more concrete: numbers.The Consumer Technology Association (CTA), which launched its massive tech symposium, CES 2016, today, has also released its semi-annual industry report, U.S. Consumer Technology Sales and Forecasts.

Listed as a “Tech Sector to Watch,” 3D printing revenue is expected to increase by 38%, with a total revenue of $152 million. 3D printer sales are projected to increase by 64%, with an estimated 178 million printers being sold in the United States. Hand holding a rising arrow.Unsurprisingly, 3D printing is predicted to be one of the major drivers of growth in the industry.

“Aggressive competition, longer product replacement cycles and disruptive innovation replacing legacy products create financial challenges for segments of our industry,” he says. “However, we believe newer categories, continuing innovation and improving economic conditions provide additional cause for industry optimism.”

Shawn DuBravac, Ph.D., chief economist and senior director of research, agrees: “We are at a time when new tech categories can come out of seemingly nowhere and lead to disruption in the blink of an eye. Digitization is rapidly changing the landscape of our daily lives, and consumers are clearly choosing to infuse tech in all facets of their lives. As economic fundamentals improve – a strengthened labor market, solid consumer spending, lower energy prices – the tech industry’s bottom line will continue to surpass record unit and revenue levels in 2016.”