IDC: Global Spending on 3D Printing Will Grow at 27 Percent CAGR
According to the new Semiannual 3D Printing Spending Guide from market-research firm International Data Corporation (IDC), global spending on 3D printing will grow at a 27 percent compound annual growth rate (CAGR), from nearly $11 billion in 2015, to $26.7 billion in 2019. The new spending guide expands on IDC’s previous 3D-printing forecasts by offering greater detail on spending levels by technology, industry, and geography.
“3D printing has been a mainstay in specialized discrete-manufacturing markets like automotive and aerospace for many years. However, in just the past three years, lower-priced 3D printers and affordable materials have dramatically widened the market for 3D printing to now enable consumer, education, healthcare, and additional manufacturing markets. That said, 3D printing availability doesn’t translate similarly across industries. Vendors and service providers need to understand how differences in use cases, materials cost, and end customer expectation are uniquely shaping each market,” commented Chris topher Chute, vice president of IDC’s Consumer Insights and Analysis Group.
“The technologies that enable 3D printing continue to develop and expand in nearly every direction,” added Tim Greene, research director for IDC’s Hardcopy Solutions. “These technologies can help deliver larger, more accurate, and more solidly built models in a fraction of the time.”
“IDC’s 3D printing research indicates that the 3D=printer market is primed and ready for greater mainstream adoption. There is strong appeal for this technology across several markets, and regions,” said Keith Kmetz, program vice [resident of IDC’s Imaging, Printing and Document Solutions research.
IDC expects that key regions and vertical industries will drive this high rate of growth and provide a transformative effect on how previously mass-produced goods can now be customized for individual needs and requirements. While emerging markets will represent a growth opportunity, IDC expects that Asia/Pacific, the United States, and Western Europe will grow their aggregate share of global spending from 59.2 percent in 2014 to 70percent by 2019, as China in particular becomes a leading market for 3D=printing hardware and services.
The Worldwide Semiannual 3D Printing Spending Guide quantifies the opportunity for 3D printers, which enable the creation of objects and shapes made through material that is laid down successively upon itself from a digital model or file. Spending data is available for more than 20 use-cases across 20 industries in eight regions. Data is also available for 3D-printing hardware, materials, software, and services. Unlike any other research in the industry, IDC says the comprehensive spending guide was designed to help IT decision makers to clearly understand the industry-specific scope and direction of 3D-printing expenditures today and over the next five years.
To learn more about IDC, visit www.idc.com.