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Global 3D Printing Spending to Reach $12bn in 2018

Itweb recently caught wind of IDC’s Worldwide Semiannual 3D Printing Spending Guide from International.  According to this report, IDC forecasts “global spending on 3D printing (including hardware, materials, software, and services) will be nearly $12 billion in 2018, an increase of 19.9% over 2017.”

“The research firm says by 2021, worldwide spending will be nearly $20 billion with a five-year compound annual growth rate (CAGR) of 20.5%.  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 account for $5.5 billion by then.

“IDTechEx forecasts the global market for 3D printing metals will reach a value of $12 billion by the year 2028…in 2017, several companies launched new printer technologies with the promise of overcoming some of the existing barriers to adoption, such as lower printer prices, faster build speeds, and cheaper materials.”

IDC “says the US will be the region with the largest spending total in 2018 ($4.1 billion) followed by Western Europe ($3.5 billion)…China will be the third largest region with more than $1.5 billion in spending this year, followed by Central and Eastern Europe, the Middle East & Africa, the rest of Asia/Pacific (excluding Japan)…the regions which will see the fastest growth over the 2017-2021 forecast period are Latin America (27.2% CAGR) and CEE (26% CAGR).

IDC’s Research Manager of Customer Insights and Analysis Marianne D’Aquila had this to say: “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 becomes more mainstream.”

Image and Quotes Courtesy of Itweb

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