CEE 3D Printing Market Value to Reach Nearly $2 Billion in 2019, According to IDC
26 Jan 2016
Prague, January 28, 2016 – According to the new Semiannual 3D Printing Spending Guide from International Data Corporation (IDC), Central and Eastern European spending on 3D printing will grow at a 28.0% compound annual growth rate (CAGR) in 2015‒2019 — leaping from about $0.75 billion to nearly $2.0 billion in the five-year period. With such figures, the growth of spending on 3D printing in Central and Eastern Europe (CEE) will exceed worldwide growth, with a projected CAGR of 26.9% in the same period. The new spending guide expands on IDC's previous 3D printing forecasts by offering greater detail on spending levels by technology, industry, and geography.
IDC expects the 3D printing market’s high rate of growth to have a transformative effect on how previously mass-produced goods can now be customized for individual requirements. While emerging markets will represent a growth opportunity, IDC expects that Asia/Pacific will contribute most to near-future growth, as China in particular becomes a leading market for 3D printing hardware and services. Nevertheless, CEE will maintain its position as a frontrunner, and its share of global 3D printing market spending is expected to grow from 7.2% in 2014 to 7.5% by 2019.
"Discrete manufacturing industries like automotive or aerospace and defense have remained the biggest adopters of 3D printing, complementing their traditional production and supply chain models. The 3D printers they use are capable of building larger, more accurate, and more solidly built prototypes, as well as delivering finished parts from quality materials," says Martin Kuban, Senior Research Analyst with IDC Manufacturing Insights.
IDC's 3D printing research indicates that the CEE 3D printer market is ready for greater mainstream adoption. However, technologies that enable 3D printing continue to develop at a rapid pace and expand in nearly every direction, creating an incredibly broad range of use cases in industries such as healthcare, education, construction, and retail.
"In just the past three years, lower-priced 3D printers and affordable materials have dramatically widened the market for 3D printing. Vendors and service providers need to understand how differences in use cases, materials cost, and end customer expectation are uniquely shaping each market," adds Zdenek Krouzel, Senior Research Analyst of Imaging, Printing and Document Solutions research at IDC.
The Worldwide Semiannual 3D Printing Spending Guide quantifies opportunities for 3D printers. 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, the comprehensive spending guide was designed to help IT decision makers to clearly understand the industry-specific scope and direction of 3D printing expenditures currently and over the next five years.
About IDC Spending Guides
IDC's Spending Guides provide a granular view of key technology markets from a regional, vertical industry, use case, buyer, and technology perspective. The spending guides are delivered via pivot table format or custom query tool, allowing the user to easily extract meaningful information about each market by viewing data trends and relationships.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.
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