Read time: 3 minutes

MEA 3D printing market set to outperform global growth rate

By , ITWeb
Africa , 24 Feb 2016

MEA 3D printing market set to outperform global growth rate

The latest forecasts from International Data Corporation (IDC) estimates that spending on 3D printing in the Middle East and Africa (MEA) market will increase from $0.47 billion in 2015 to reach $1.3 billion by 2019.

Findings in the IDC's Semiannual 3D Printing Spending Guide show that the spending will outperform the worldwide growth rate of 26.9% by increasing at a compound annual growth rate of 30.8% over the 2015‒2019 period.

IDC says it expects the 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. MEA, it adds, 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% in 2014 to 5.0% by 2019.

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

"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."

The 3D printing research also states that the MEA 3D printer market is ready for greater mainstream adoption as it creates a broad range of use cases in industries such as healthcare, education, construction, and retail.

Ashwin Venkatchari, IDC's senior program manager for imaging devices and document solutions in the Middle East, Africa and Turkey the IDC also sees increasing adoption among oil and gas companies in the Middle East as they look to enable the rapid prototyping of parts on their sites, which can often be found in extremely isolated locations.

"This limits downtime and reduces costs, which is particularly important in this current environment of low oil prices. But cost savings aren't the only drivers of 3D printing in the region; for example, the healthcare industry is one of the fastest growing users of technology, and the primary driver in this space is the ability of 3D printing to improve the lives of patients."

Daily newsletter