3D Printing Market Expected to Grow by 27 Percent

FRAMINGHAM, MA - According to the new Semiannual 3D Printing Spending Guide from International Data Corporation (IDC), global spending on 3D printing will grow at a 27 percent compound annual growth rate 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, in a press release.

“The technologies that enable 3D printing continue to develop and expand in nearly every direction,” added Tim Greene, Research Director, Hardcopy Solutions, in a statement. “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.

International Data Corporation (IDC) is a global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. Founded in 1964, IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. The company is headquartered in Framingham.