Originally written and published by Kathleen Wirth at wirthconsulting.org
IDC Forecasts Worldwide Spending on 3D Printing to Reach Nearly $12 Billion in 2018
A new update to the Worldwide Semiannual 3D Printing Spending Guide from market-research firm， International Data Corporation (IDC)， shows that global spending on 3D printing (including hardware, materials, software, and services) will be nearly $12.0 billion in 2018, an increase of 19.9 percent over 2017.
By 2021, IDC expects worldwide spending to be nearly $20.0 billion, with a five-year compound annual growth rate (CAGR) of 20.5 percent.
Together, 3D printers and materials will account for roughly two-thirds of the worldwide spending total throughout the forecast, reaching $6.9 billion and $6.7 billion, respectively, in 2021.
Services spending will trail slightly behind, reaching $5.5 billion in 2021 and led by on-demand parts services and systems integration services. Purchases of 3D-printing software will grow more slowly than the overall market with a five-year CAGR of 18.6 percent.
Acordding to IDC, discrete manufacturing will be the dominant industry for 3D printing, delivering more than half of all worldwide spending throughout the 2017-2021 forecast. Healthcare providers will be the second-largest industry with a spending total of nearly $1.3 billion in 2018, followed by education ($974 million) and consumer ($831 million).
By 2021, IDC expects professional services and retail to move ahead of the consumer segment. The industries that will see the fastest growth in 3D-printing spending over the five-year forecast are the resource industries (38.4 percent CAGR) and healthcare (35.4 percent CAGR).
Marianne D’Aquila, research manager for Customer Insights and Analysis at IDC commented: “3D printing solutions have moved well beyond prototyping, to become prevalent within and across multiple industries. 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 realized.”
For more information, visit IDC here.