Home > Cool Tech > Global spending on 3D printing to exceed $26B in…

Global spending on 3D printing to exceed $26B in 2019, China to become leading market

global spending on  d printing to exceed billion in china become leading market formlabs form printer
Bill Roberson/Digital Trends

Global spending on 3D printing hit nearly $11 billion in 2015, according to International Data Corporation (IDC). By 2019, that figure will surge to nearly $27 billion.

The IDC’s “Worldwide Semiannual 3D Printing Spending Guide” forecasts a 27 percent compound annual growth rate (CAGR) from 2015 to 2019, when worldwide spending on 3D printing is expected to hit $26.7 billion. More affordable 3D printers and 3D printing materials are credited for the industry’s growth in the past three years.

Related: Researchers create a $100 smartphone-powered 3D printer

Asia-Pacific, the U.S., and Western Europe are expected to increase their combined share of global spending on 3D printing from 59.2 percent in 2014 to 70 percent by 2019, according to IDC. China is projected to become the leading market for 3D printing hardware and services.

Through the first three quarters of 2015, worldwide shipments of 3D printers rose 35 percent year, according to data from IT market research company CONTEXT, cited by investment research firm Morningstar. “Of the total 173,962 units shipped year-to-date, 95 percent of these were personal/desktop printers, mostly priced below $5,000,” according to the firm. This reflects a 38 percent year-over-year growth for this subcategory of the industry. The industrial/professional segment, however, declined 3 percent.

Taiwan-based XYZprinting was the leader in the desktop/personal printer space through the first three quarters of 2015, boasting a 17 percent global market share. 3D Systems (12 percent), Stratasys (9 percent), Ultimaker (9 percent), and M3D (9 percent) rounded out the top five.