The 3D printing market will grow rapidly in 2018

Recently, the International Data Corporation (IDC) report showed that the global 3D printing technology spending in 2018 is forecast to reach 12 billion U.S. dollars, an increase of 19.9% ​​over the 2017 expenditure. IDC expects that by 2021, the global 3D printing industry's spending will reach nearly 20 billion US dollars, and the 5-year compound annual growth rate (CAGR) will reach 20.5%.

The IDC international analyst team visited major markets in 9 regions or countries including Europe, Asia Pacific and the United States. It is estimated that by 2021, hardware consumption will reach 6.9 billion U.S. dollars in 3D printing-related expenditures, material consumption will reach 6.7 billion U.S. dollars, and service expenditure will reach 5.5 billion U.S. dollars.

Discrete manufacturing will become the leading industry for 3D printing. In the 2017-2021 forecast, more than half of global spending will be provided by it. Health care providers will become the second largest area, with total spending of nearly $1.3 billion in 2018, followed by education ($974 million) and consumption ($831 million). IDC expects that by 2021, professional services and retail business will lead the consumer sector. Among the five-year forecasts, the industry with the fastest growth in 3D printing spending is the resource industry (with a compound annual growth rate of 38.4%) and the medical industry (with a compound annual growth rate of 35.4%).

The IDC report's expenditure forecast by region shows that in 2018, the United States expects to spend the most, reaching US$4.1 billion; followed by Western Europe, it is expected to spend US$3.5 billion. China, which is rapidly becoming an important player in the 3D printing industry, is expected to spend 1.5 billion U.S. dollars in 2018.

Overall, it is expected that by 2021, the composite annual growth rate of 6 of the 9 geographic regions analyzed will exceed 20%.

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