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IDC: 3D Printing Industry Revenues to Double to $35 Billion by 2020, Desktop 3D Printing Market Expected to Slow

by • August 18, 2016 • No Comments

3dp_idcresearch_logoRecent updates to the International Data Corporation (IDC) Worldwide Semiyearly 3D Printing Spending Guide is predicting that the rapid expansion of the 3D printing industry is assumeed to go on without slowing down. The research utilized for the updated spending guideline was collected of additional than 20 3D printing use cases in 20 industries throughout 8 various global markets. According to the IDC analysts, global revenues for the 3D printing market can explode to a huge $35.4 billion by the year 2020. With 2016 revenues assumeed to reach $15.9 billion that means the industry can just about double inside the next five years. Overall the compound yearly growth rate for the global market during their 2015 through 2020 forecast period is an amazing 24.1%.

IDC_P33192_0024As you may assume, 3D printing hardware and 3D printing materials can yet account for the biggest sector in the industry, representing approximately 50% of the forecast of the world revenues; yet, growth is in fact predicted to be faster inside other sectors. Demand for computer-aided create (CAD) software is assumeed to triple over the next 5 years, with the market for on-demand 3D printing services assumeed to show much like growth. This is primarily due to the ongoing increase in businesses via 3D printing advancement and service providers to create prototypes and customized, low-volume manufactured consumer products.

“Customer spending on 3D printing capabilities is next the market away of weight market consumer printing devices towards holistic solutions that enable higher-end – and additional profitable – use cases. As the market for printing devices, materials and services matures, IDC assumes new 3D printing capabilities to enable a next-wave of customer advancement in discrete making, product create, and life sciences,” explained IDC Vice President of Customer Insights and Analysis Christopher Chute.

Despite a healthy consumer 3D printing device market, making has been the major cause of 3D printing industry growth. Specifically discrete making, or the making of distinct, identifiable items like consumer products, electronics and automobiles (as opposed to indistinct products like oil, minerals or bulk foods) can generate 56% of of the world 3D printing revenues in 2016. This year Automotive Design alone can outcome in $4 billion in revenues for the production of prototypes and low-volume parts or tooling. The Aerospace and Defense industry can in addition be responsible for a worthwhile segment of the year’s revenues at $2.4 billion.

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The 3D Printing Industry is assumeed to double by 2020.

“IDC assumes the of the world 3D printing market to go on its rapid expansion over the next several years, driven by the require to reduce making cycle times and to reduce prototyping costs. This growth can be fueled by an explosion of 3D printing device manufacturers of around the world, seeking to capitalize on the anticipated growth in this market with faster printing devices that contribute advantageous high end output at lower prices,” says the Program Vice President of IDC’s Imaging, Printing and Document Solutions research Keith Kmetz.

Dental applications are in addition assumeed to have a sturdy revealing in 2016, with healthcare and pro services being the 2nd and third biggest 3D printing revenue generating industries during IDC’s 2015-2020 forecast period. But the biggest revenue growth is assumeed in the retail sector that can explode into the fourth position by 2020. The just market inside the 3D printing industry that is not assumeed to grow so dramatically is the consumer 3D printing, primarily computer 3D printing devices. IDC believes that market to may already be mature and not assumeed to grow worthwhilely beyond its current levels. Discuss additional in the 3D Printing Market Projections Through 2020 forum over at 3DPB.com.

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