3D Printing CAGR 22% Forecasted
January 10, 2017
purchases of 3D printers, materials, software, and related services are
expected to total $13.2 billion in 2016. According to a recent update to
the Worldwide Semiannual 3D Printing Spending Guide from International
Data Corporation (IDC), global spending on 3D printing will experience a
five-year compound annual growth rate (CAGR) of 22.3% with revenues
reaching $28.9 billion in 2020.
The United States will deliver roughly a quarter of worldwide 3D
printing revenues throughout the 2015-2020 forecast period while the
next three largest regions – Western Europe, Asia/Pacific (excluding
Japan), and Japan – combined will deliver more than 50% of total
revenues. While the fastest growth will come from the Middle East and
Africa (MEA) and Central and Eastern Europe (CEE) regions, Western
Europe's strong growth will significantly close the revenue gap with the
United States by 2020. In fact, five of the eight geographic regions
covered in the Spending Guide will see total revenue growth of more than
200% over the five-year forecast period.
"As the 3D Printing market matures, major trends are no longer confined
to North America. Regions like Western Europe and Asia/Pacific are
driving stronger levels of spending across different industries," said
Christopher Chute, vice president, Customer Insights and Analysis at
Discrete Manufacturing is the dominant industry for 3D printing,
delivering more than two thirds of all worldwide revenues through much
of the forecast. And while all the industries examined in the Spending
Guide will experience revenue growth of more than 100% over the forecast
period, Healthcare will leap from the number 5 position in 2016 to the
number 2 spot in 2020 with revenues growing to more than $3.1 billion.
This move will be driven by strong investments from healthcare providers
in both the United States and Western Europe.
to the broader variety of 3D printers and materials that can be used,
and also to lower prices, 3D printing is becoming more sophisticated and
devoted to newer uses. In addition, existing use cases are increasing
their market share." said Carla La Croce, research analyst, Customer
Insights and Analysis. "For example: dental printing is growing rapidly
with the prospect of reaching one of the highest market shares in the
near future (around 15% in 2020), as well as 3D printing for medical
implants and devices (nearly 13% in 2020). Moreover, the 3D revolution
is discovering new market niches, and new uses will arise in the future.
IDC identifies the healthcare sector as the one with the highest growth
The use cases that will generate the largest revenues for 3D printing in
2016 are Automotive Design – Rapid Prototype Printing (more than $3.9
billion) and Aerospace and Defense Parts Printing (nearly $2.4 billion).
Tools and Component Printing will also emerge as a significant market in
2016. By 2020, Dental Printing will become a strong challenger for the
number 3 position in terms of worldwide revenues while Medical Implant &
Device Printing, Product Creation and Prototype Printing, and
Prosthetics Printing will each generate worldwide revenues of more than
Purchases of 3D printers and materials combined will produce nearly two
thirds of total worldwide revenues throughout the forecast period.
Revenues for computer-aided design (CAD) software are forecast to triple
over the five-year forecast period while the market for on-demand parts
services will nearly match this growth. The gains in both software and
on-demand parts printing are being driven by the rapidly expanding use
of 3D printing for design prototyping and products that require a high
degree of customization in non-traditional environments.