Worldwide 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.
"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 IDC.
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.
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 $1 billion.