Jan 21, 2016 | By Tess
Despite certain 3D printing companies, such as 3D Systems, suffering financial losses, there is good news on the horizon for the 3D printing industry as a whole. Recently, global provider of market intelligence, the International Data Corporation (IDC) released its Semiannual 3D Printing Spending Guide which predicts that global spending on 3D printing technologies will grow at a 27% compound annual growth rate. In other words, the 3D printing industry will grow from nearly $11 billion in 2015 to $26.7 billion in 2019.
The predicted growth in the 3D printing industry is not entirely surprising, however, as nearly every day we see what amazing things and advances are being made by and in the additive manufacturing world. From 3D printing in new metals, to bio-printing, there is no doubt that we have only just begun to see what the growing technology can accomplish.
“3D printing has been a mainstay in specialized discrete manufacturing markets like automotive and aerospace for many years,” explain Christopher Chute, Vice President, Consumer Insights and Analysis Group. “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.”
In the report, the IDC predict that Asia, the United States, and Western Europe, the dominant regions within the 3D printing industry, will increase their aggregate share of global spending from 59.2% in 2014 to 70% by 2019. The report also predicts China will become an increasingly important leader in 3D printing hardware and services.
“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,” says Keith Kmetz, Program Vice President of IDC’s Imaging, Printing and Document Solutions research.
Tim Greene, Research Director, Hardcopy Solutions, adds, “The technologies that enable 3D printing continue to develop and expand in nearly every direction. These technologies can help deliver larger, more accurate, and more solidly built models in a fraction of the time.”
Posted in 3D Printing Technology
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