According to IDC, 3D Printing expenses will reach $13.8 Billion this year
It is easy to speak about the revenue a market can generate, but most of the times, we do not lay emphasis on the expenses generated by this same market.
The last report of IDC (International Data Corporation) is an alarm of experts are going to spend on this market. IDC is a provider of market intelligence, advisory services, and events. According to its researches, there will be a 21% increase in global spending on 3D printing for various sectors: hardware, materials, software, and services, compared to 2018.
Together, 3D printers and materials will account for more than two thirds of the worldwide spending total throughout the forecast, reaching $5.3 billion and $4.2 billion respectively in 2019. Services spending will trail slightly behind, reaching $3.8 billion in 2019 and led by on-demand parts services and systems integration services. Spending growth for materials and software will outpace the overall market with five-year CAGRs of 20.3% and 17.1% respectively.
Discrete manufacturing will be the dominant industry for 3D printing, delivering more than half of all worldwide spending throughout the 2018-2022 forecast. Healthcare providers will be the second largest industry with a spending total of nearly $1.8 billion in 2019, followed by education ($1.2 billion) and professional services ($898 million). Consumer spending will account for less than 5% of the worldwide total at $647 million. By 2022, IDC expects process manufacturing to move into the number 5 position ahead of the consumer segment. The industries that will see the fastest growth in 3D printing spending over the five-year forecast are healthcare (29.8% CAGR) and transportation (28.3% CAGR).
The leading use cases for 3D printing are prototypes, aftermarket parts, and parts for new products. As the primary use cases for the discrete manufacturing industry, these three use cases will account for 43% of worldwide spending in 2019.
Discover the new update to the Worldwide Semiannual 3D Printing Spending Guide from International Data Corporation (IDC).
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