5-Year 3D Printing Forecast Announced

5-Year 3D Printing Forecast Announced

IDC has used its updated World Semiannual 3D Printing Spending Guide to predict the global revenue for 3D printing will double by 2020.

According to IDC, the forecast for 3D printing revenue in 2016 is US$15.9 billion. With a CAGR of 24.1%, revenue is expected to grow to US$35.4 billion. 3D printers and materials will account for about 50% of the revenue. Computer-aided design (CAD) will see its revenue streams triple in the next five years.

Automotive Design (AD) – Rapid Prototype Printing and Defense Parts Printing are expected to make up the largest proportion of global revenue in 2016. The earning forecasts are US$4.0 billion and US$2.4 billion, respectively.

Manufacturing innovation has been the key driver behind the overall 3D printing market. There has been an increased use of 3D printing for prototyping and parts production. IDC says “it’s no surprise that discrete manufacturing will continue to be the leading industry, generating 56% of worldwide 3D printing revenues in 2016.”

Keith Kmetz, Program Vice President of IDC’s Imaging, Printing and Document Solutions Research, stated, “IDC expects the worldwide 3D printing market to continue its rapid expansion over the next several years, driven by the need to reduce manufacturing cycle times and to reduce prototyping costs. This growth will be fueled by an explosion of 3D printer manufacturers from around the world, seeking to capitalize on the anticipated growth in this market with faster printers that offer better quality output at lower prices.”

Other major revenue sources by 2020 are predicted to come from healthcare, professional and retail services.
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