Spending on MEA 3D printing market set to rise to US$1.3bn in four years

3Dprinting metalurgiamontemar0 pixabayThe technologies that enable 3D printing are continuing to develop at a rapid pace, creating a broad range of use cases in industries such as healthcare, education, construction, and retail. (Image source: metalurgiamontemar0/Pixabay)Spending on 3D printing in the Middle East and Africa (MEA) market is set to increase from US$0.47bn in 2015 to reach US$1.3bn by 2019, according to latest forecasts from International Data Corporation (IDC)

The research firm’s new Semi-annual 3D Printing Spending Guide showed that the spending in the region will increase at a compound annual growth rate (CAGR) of 30.8 per cent over the 2015‒2019 period, outperforming the worldwide growth rate of 26.9 per cent.

IDC expects this high rate of growth to have a transformative effect on how previously mass-produced goods are manufactured, with 3D printing enabling such products to be customised for individual requirements. While the world’s emerging markets in general will represent a clear growth opportunity, IDC expects the Asia-Pacific region to contribute most to near-term growth, as China – in particular – becomes a leading market for 3D printing hardware and services.

Nevertheless, it also says that MEA will maintain its position as a frontrunner in this space and its share of global 3D printing spend is expected to grow from 4.3 per cent in 2014 to five per cent by 2019.

“It is clear that 3D printing offers considerable growth potential in the Middle East and Africa region,” said Martin Kuban, a senior research analyst with IDC Manufacturing Insights.

“The technology will dynamically proliferate across multiple manufacturing industries over the coming years, and we are already seeing significant interest from manufacturers in the GCC countries looking to utilise 3D printing technology. Aside from some of the more obvious applications within the automotive and aerospace industries, we expect to see some innovative and potentially transformative 3D printing deployments among medical suppliers, electronics manufacturers, and tools and components manufacturers.”

IDC’s 3D printing research indicates that the MEA 3D printer market is ready for greater mainstream adoption. And the technologies that enable 3D printing are continuing to develop at a rapid pace and expand in nearly every direction, creating a broad range of use cases in industries such as healthcare, education, construction, and retail.

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