Earlier this week Hewlett-Packard Co. revealed plans to enter the 3D printing arena with cutting edge improvements that make the 3D printing process quicker and cheaper. The news has shifted the markets, with lead 3D printing companies like Stratasys and 3D Systems Corp losing share value since the announcement. Stratasys executives responded to the announcement saying that they expect growth in the 3D printing industry to $21 billion in 2020 from $3 billion last year.
Even if some very good competitors are going to enter into this market, I think the growth of the market will allow (Stratasys and other companies to grow). It’s not going to be limited to one or two companies.” Stratasys Chief Executive Officer David Reis said in an interview.
Stratasys is confident in their standing in the 3D printing market with the company currently holding about 55 percent of the market for printers priced at more than $10,000 and 35 percent of printers priced below $10,000. While Stratasys executives are willing to admit that the competition is concerning, they believe that the market has plenty of room for them and their competitors.
HP on the other hand is making moves to bolster the stagnant PC market. In addition to the new printer HP has announced a new computer with built-in scanner, projector and touchpad. The computer is a part of the new “blended reality” experience that HP hopes to create. The PC allows users to scan and project on 3D objects. The new computer is available to order now and will be in stores beginning November 9 in the US. HP’s new printer is not set to hit markets until 2016 meaning that the other 3D printing companies have time to make comparable product.
Read More – Stratasys sees robust 3D-Printing Market As HP Reveals Plans (Reuters, Lewis Krauskopf)