Western Europe Spending on 3D Printing Forecast to Grow at 29% a year, to more than $7.2 Billion in 2019, According to IDC
29 Jan 2016
Western Europe Spending on 3D Printing Forecast to Grow 29% a Year to More Than $7.2 Billion in 2019, According to IDC
Milan, January 29, 2016 – Western European spending on 3D Printing will grow at a 29.6% compound annual growth rate (CAGR) from nearly $2.6 billion in 2015 to $7.2 billion in 2019, according to the new Worldwide Semiannual 3D Printing Spending Guide from International Data Corporation (IDC). This new spending guide expands on IDC's previous 3D printing forecasts by offering greater detail on spending levels by technology, industry, and geography.
Increased competition led to more accessible prices for printers and materials, and made the 3D printing the market more affordable in the recent years.
The leading vertical market for 3D printing in Western Europe in 2015 was discrete manufacturing, which represented more than 33% of the total market, and will grow at a compound annual rate of 23% between 2015 and 2019.
"Healthcare is also growing significantly, showing a compound growth rate of 46% a year, It is forecast to reach 33% of the 3D Printing market by 2019, replacing discrete manufacturing as the leading vertical market" said Carla La Croce, Research Analyst covering vertical markets and innovation accelerators in Western Europe.
La Croce added "The dental sector has shown a very high adoption rate of 3D Printing solutions, with constant growth. In addition, horizons in are widening for construction and retail markets in 3D printing. There is increasing interest for this technology, making the introduction of the 3D printing a big revolution. Nevertheless, the usage of this technology is price sensitive, and vendors should consider how to access each market".
"3D printers have the potential to expand the manufacturing industry, shift distribution locally, and implement on-demand production, reducing unnecessary inventories and shipping costs", said Julio Vial, Research Manager of IDC's Imaging, Printing and Document Solutions research. "This technology will permit mass customization and print different products while reducing cost and recycling the excess of materials. Product weight can be reduced, and fewer tools will be needed because 3D printers could replace some of them" added Vial.
IDC expects that key regions and vertical industries will drive this high rate of growth globally, 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% in 2014 to 70% by 2019.
Western Europe 3D Printing Spending Forecast is part of the Worldwide Semiannual 3D Printing Spending Guide . It 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, 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.
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.
Carla La Croce
Direct: +39 02 284 57 347
Direct: +44-208 987 7219
ContactFor more information, contact:
+44 20 8987 7219
Carla La Croce
39 02 284 57 347