Worldwide Spending on 3D Printing Forecast to Grow at a Compound Annual Rate of 27% to More Than $26 Billion in 2019, According to IDC
21 Jan 2016
FRAMINGHAM, Mass., January 21, 2016 – According to the new Worldwide Semiannual 3D Printing Spending Guide from International Data Corporation (IDC), global spending on 3D printing will grow at a 27% 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," said Christopher Chute, Vice President, 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, 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 President 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% in 2014 to 70% 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, 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.
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