IDC predicts rise in 3D printing spending
January 11, 2018
In a new update added to the Worldwide Semiannual 3D Printing Spending Guide, IDC predicts an increase of 19.9 percent in 2018.
According to the update, IDC forecasts an increase in worldwide 3D printing spending of nearly $12 billion (€10.045 billion) in 2018, and by 2021 IDC expects worldwide spending to grow to almost $20 billion (€16.744 billion), representing a five-year CAGR of 20.5 percent.
During the forecast period, IDC reveals that “3D printers and materials will account for roughly two thirds of the worldwide spending total […] reaching $6.9 billion (€5.777 billion) and $6.7 billion (€5.609 billion) respectively in 2021.”
Spending on services will lag a little behind at $5.5 billion (€4.604 billion) in 2021, while purchases of 3DPR software will experience a more gradual growth rate, with a five-year CAGR of 18.6 percent.
3D printing will be dominated by discrete manufacturing, which will account for over 50 percent of all worldwide spending during the forecast period (2017-2021), while healthcare providers will be the next biggest industry, followed by education and consumer.
According to IDC, the industries that will undergo the swiftest growth in 3D printing spending over the forecast period are the resource industries (38.4 percent CAGR) and healthcare (35.4 percent CAGR).
“3D printing solutions have moved well beyond prototyping, to become prevalent within and across multiple industries,” said Marianne D’Aquila, research manager, Customer Insights and Analysis at IDC. “Parts for new products, aftermarket parts, dental objects, and medical support objects will continue to see significant growth opportunities over the next five years as 3D printing goes more mainstream. The healthcare industry is also poised to double its share of spend through 2021 as the benefits of cost-effective customized printing continue to be realised.”
IDC reveals that the prime use cases for 3D printing are “prototypes, aftermarket parts, and parts for new products.”
“Advancements and breakthroughs on the technology side are fueling wider adoption and greater utilization of 3D printing systems across a range of industries,” said Tim Greene, research director, Hardcopy Peripherals and 3D Printing. “Even though there are amazing innovations nearly every day in the way 3D printers are used in key industries, including automotive, aerospace, and medical, we believe that we’re still just scratching the surface of the potential for 3D printing as an enabler of digital transformation.”
The United States will be the region that devotes the largest amount of spending to 3D printing in 2018, at $4.1 billion (€3.431 billion), with Western Europe next at $3.5 billion (€2.929 billion), with both regions combined accounting for “almost two thirds of all 3D printing spending throughout the forecast.” They are followed by China, Central and Eastern Europe, the Middle East and Africa, and the rest of the Asia/Pacific region, with the exception of Japan.
Latin America and Central and Eastern Europe will experience the most rapid growth over 2017-2021, at 27.2 percent CAGR and 26 percent CAGR respectively.
IDC’s Worldwide Semiannual 3D Printing Spending Guide “quantifies the opportunity for 3D printing, which enables the creation of objects and shapes made through material that is laid down successively upon itself from a digital model or file.”
Categories : Around the Industry
Tags : 3D printing Growth IDC
