IDC forecasts global 3D printing market to reach $26.7 billion in 2019, halting annual growth of 27%.

According to a recent research report by IT market analysis and consulting firm IDC (www.idc.com), the global 3D printing market is expected to grow from $11 billion in 2015 to $26.7 billion in 2019, showing an average annual growth rate of 27%.

Christopher Chute, Vice President of IDC’s Consumer Insights and Analytics Group, said, “3D printing has played a pivotal role in specialty manufacturing markets such as automotive and aerospace for years, but the market has expanded dramatically over the past three years due to the reduction in low-cost 3D printers and material prices,” adding that 3D printing has now spread to consumer, education, medical, and other manufacturing markets.

Vice President Schutt continued, “However, the use of 3D printing does not take a similar form across all industries,” emphasizing that vendors and service providers need to understand how use cases, material costs, and end-customer expectations differ uniquely in each market.

▲ Product image of JG Aurora, one of China's major 3D printing companies (website)

Meanwhile, Tim Greene, Research Director leading IDC’s Hardcopy Solutions team, stated, “3D printing technology will continue to evolve and expand in almost every direction,” explaining that this technology is enabling the production of larger, more accurate, and robust models in a short period of time.

In addition, he said, "IDC's 3D printing research shows that the 3D printer market is becoming mainstream and is ready to enter the mainstream market, and that 3D printing technology has strong appeal across various markets and regions."

IDC predicts that major regional and industry-specific markets will drive high levels of growth and provide innovative effects in customizing existing mass-produced products to suit individual needs and requirements.

While emerging markets will certainly provide growth opportunities, IDC forecasts that the combined share of the Asia-Pacific, U.S., and Western European markets in the global market will increase from 59.2% in 2014 to 70% in 2019. In particular, China is expected to lead market growth in the 3D printing hardware and services sectors.