Market research company IDC has predicted that 3D printing will reach $23 billion by 2022 at a CAGR of 18.4%.
In the company’s Semiannual 3D Printing Spending Guide, it predicted that together 3D printers and materials will account for roughly two-thirds of the worldwide spending total for the forecast, reaching $7.8 billion and $8 billion respectively in 2022. Services spending will reach $4.8 billion, led by on-demand parts services and systems integration services. Software purchases will grow slower than the overall market with a five-year CAGR of 16.7%.
The report also estimated that by 2019 global spending on 3D printing will reach $14 billion, an increase of 23.2% from 2018. The US will spend the most in 2019 at $5.4 billion, followed by Western Europe at $4 billion. These regions will provide nearly two-thirds of all 3D printing spending throughout the forecast. China will be the third largest region with more than $1.9 billion.
The leading use cases for 3D printing are prototypes, aftermarket part, and parts for new products, which will account for 45% of worldwide spending in 2019.
IDC Customer Insights and Analysis Research Manager Marianne Daquila said: “3D printing solutions are gaining traction outside of the traditional industries of aerospace and automotive manufacturing and healthcare. Professional services and retail will each see more than $1 billion in annual spending before the end of the forecast period, driven by the benefits of fully customised solutions.”
In the company’s Semiannual 3D Printing Spending Guide, it predicted that together 3D printers and materials will account for roughly two-thirds of the worldwide spending total for the forecast, reaching $7.8 billion and $8 billion respectively in 2022. Services spending will reach $4.8 billion, led by on-demand parts services and systems integration services. Software purchases will grow slower than the overall market with a five-year CAGR of 16.7%.
The report also estimated that by 2019 global spending on 3D printing will reach $14 billion, an increase of 23.2% from 2018. The US will spend the most in 2019 at $5.4 billion, followed by Western Europe at $4 billion. These regions will provide nearly two-thirds of all 3D printing spending throughout the forecast. China will be the third largest region with more than $1.9 billion.
The leading use cases for 3D printing are prototypes, aftermarket part, and parts for new products, which will account for 45% of worldwide spending in 2019.
IDC Customer Insights and Analysis Research Manager Marianne Daquila said: “3D printing solutions are gaining traction outside of the traditional industries of aerospace and automotive manufacturing and healthcare. Professional services and retail will each see more than $1 billion in annual spending before the end of the forecast period, driven by the benefits of fully customised solutions.”
