Western European spending on 3D Printing will grow at a 29,6% compound annual growth rate (CAGR) from nearly $2,6-billion in 2015 to $7,2-billion in 2019, according to the new Semiannual 3D Printing Spending Guide from International Data Corporation (IDC).
This new spending guide expands on IDC’s previous 3D Printing forecasts by offering greater detail on spending levels by technology, industry, and geography.
Increased competition led to more accessible prices for printers and materials, and made the 3D printing the market more affordable in the recent years.
The leading vertical market for 3D Printing in Western Europe in 2015 is discrete manufacturing, and its biggest markets are automotive and aerospace. Manufacturing represents more than 33% of the total market in 2015, and will grow at a compound annual rate of 23% between 2015 and 2019.
“Healthcare is also growing significantly, showing a compound growth rate of 46% a year, It is forecast to reach 33% of the 3D printing market by 2019, replacing discrete manufacturing as the leading vertical market” says Carla La Croce, research analyst covering vertical markets and innovation accelerators in Western Europe.
La Croce adds: “The dental sector has shown a very high adoption rate of 3D printing solutions, with constant growth. In addition, horizons in are widening for construction and retail markets in 3D printing. There is increasing interest for this technology, making the introduction of the 3D printing a big revolution. Nevertheless, the usage of this technology is price-sensitive, and vendors should consider how to access each market.”
“3D printers have the potential to expand the manufacturing industry, shift distribution locally, and implement on-demand production, reducing unnecessary inventories and shipping costs,” says Julio Vial, research manager of IDC’s imaging, printing and document solutions research. “This technology will permit mass customization and print different products while reducing cost and recycling the excess of materials. Product weight can be reduced, and fewer tools will be needed because 3D printers could replace some of them.”
IDC expects that key regions and vertical industries will drive this high rate of growth globally, and provide a transformative effect on how previously mass-produced goods can now be customised for individual needs and requirements. While emerging markets will represent a growth opportunity, IDC expects that Asia/Pacific, the United States, and Western Europe will grow their aggregate share of global spending from 59,2% in 2014 to 70% by 2019.
Western Europe 3D Printing Spending Forecast is part of the Worldwide Semiannual 3D Printing Spending Guide. It quantifies the opportunity for 3D printers, which enable the creation of objects and shapes made through material that is laid down successively upon itself from a digital model or file.