Global spending on 3D printing will experience a five-year compound annual growth rate of 22.3 percent, says a report from the International Data Corporation (IDC) entitled “Worldwide Semiannual 3D Printing Spending Guide”.
The report says that worldwide purchases of 3D printers, materials and related services will reach $13.2 billion in 2016, but that number will grow to $28.9 billion by 2020.
The U.S. will be the largest single contributor for this growth, accounting for a quarter of revenues from 2015 to 2020. The next three largest contributors – Western Europe, Asia/Pacific and Japan – will account for a combined 50 percent of revenue.
“As the 3D printing market matures, major trends are no longer confined to North America,” said Christopher Chute, VP for Customer Insights and Analysis at IDC. “Regions like Western Europe and Asia/Pacific are driving stronger levels of spending across different industries.”
Specifically, 3D printing in the healthcare sector is expected to make the biggest leap, with projected revenues growing to more than $3.1 billion in the five-year forecast.
Other sectors of growth for 3D printing include automotive design, aerospace, defense and also dental printing.
