Skip to main content

The Expanding Market for 3D Printing Technologies

An increasing trend toward personal manufacturing and small scale production is leading to incremental growth for three-dimensional (3D) printing technology across the globe.

Furthermore, there has been an increase in interest with the development of heterogeneous material manufacturing capability, according the latest worldwide market study by Frost & Sullivan.

Significant new opportunities have emerged with prototyping technologies, with 3D printing gaining momentum across various industries -- from printing a mobile phone cover to reconstructing human organs.

Emerging as a technology of choice for a wide range of applications, 3D printing is expected to increase its market share rapidly by about 40 percent during 2015.

Frost & Sullivan finds that personal manufacturing and small scale production is already starting to pave the way for further 3D printing adoption. Plus, combined with the automobile and aerospace industries, consumer goods manufacturing and healthcare industries, these established segments offer immense scope for the emerging new printer technology.

"3D printing brings several performance and efficiency advantages to the table that translate into high quality; far greater than what can be achieved through conventional manufacturing," said Jithendranath Rabindranath, research analyst at Frost & Sullivan.

Therefore, organizations are embracing various approaches to expand the applicability of 3D printing, accelerating market uptake -- especially in the Asia-Pacific and North America regions.

That said, the validity of the technology for large-scale systems and physical object manufacturing has not been clearly demonstrated. And, the initial cost of establishing a rapid prototyping service is expected to be a significant barrier, based upon current estimates of the required investment and modest production volumes.

Nevertheless, companies across the 3D printing value-chain will benefit from the reduction in the amount of tooling and process steps, which should help to reduce costs. It will also significantly minimize inventory and lead times, which is a defining factor for manufacturing companies.

"With burgeoning market potential and growing funding, the 3D printing ecosystem is taking shape," concluded Rabindranath. "The contribution of multiple industry participants such as confederations, research labs, universities, start-ups, and established firms will further quicken the development and commercialization of 3D printing technology, products, and services on a global scale."

Popular posts from this blog

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth

Digital Talent Demand Exceeds Supply in Asia-Pac

Even the savviest CEO's desire for a digital transformation advantage has to face the global market reality -- there simply isn't enough skilled and experienced talent available to meet demand. According to the latest market study by IDC, around 60-80 percent of Asia-Pacific (AP) organizations find it "difficult" or "extremely difficult" to fill many IT roles -- including cybersecurity, software development, and data insight professionals. Major consequences of the skills shortage are increased workload on remaining digital business and IT employees, increased security risks, and loss of "hard-to-replace" critical transformation knowledge. Digital Business Talent Market Development Although big tech companies' layoffs are making headlines, they are not representative of the overall global marketplace. Ongoing difficulty to fill key practitioner vacancies is still among the top issues faced by leaders across industries. "Skills are difficul

Mobile Device Market Still Awaiting Recovery

The mobile devices market has experienced three years of unpredictable demand. The global pandemic, geopolitical pressures, supply chain issues, and macroeconomic headwinds have hindered the sector's consistent growth potential. This extremely challenging environment has dramatically affected both demand and supply chains. It has led to subsequent inflationary pressures, leading to a worsening global cost of living crisis suppressing growth and confidence in the sector. In tandem, mobile device industry stakeholders have become more cautious triggering market uncertainties. Mobile Device Market Development Operating under such a backdrop, the development of mobile device ecosystems and vendor landscapes have been impacted severely. Many of these market pressures persisted throughout 2022 and now into 2023, borne chiefly by the smartphone market. According to the latest worldwide market study by ABI Research, worldwide smartphone shipments in 2022 declined 9.6 percent Year-over-Year