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

GenAI: A New Era in Business Transformation

The advent of artificial intelligence (AI) has ushered in a new frontier of innovation, with Generative AI (GenAI) at the forefront. At the brink of this revolution, it's crucial to understand the current GenAI adoption and its implications for commerce worldwide. A recent poll conducted by Gartner provides valuable insights into this emerging trend and the potential upside opportunities. Generative AI Market Development The poll, which included 1,419 executive leaders, indicates a significant shift in the corporate world's perception and adoption of GenAI. The data reveals that 45 percent of respondents are currently piloting GenAI, while another 10 percent have put it into production. This is a substantial increase from a similar poll conducted in March and April 2023, where only 15 percent were piloting and 4 percent were in production. GenAI is no longer a mere buzzword; it has become a strategic focus for organizations worldwide. As Frances Karamouzis, VP Analyst at Gartne

Industrial and Manufacturing Technology Growth

In an evolving era of rapid advancement, market demand for innovative technology in the industrial and manufacturing sectors is skyrocketing. Leaders are recognizing the immense potential of digital transformation and are driving initiatives to integrate technologies into their business operations.  These initiatives aim to enhance efficiency, reduce costs, and ultimately drive growth and competitiveness in an increasingly digital business upward trajectory. The industrial and manufacturing sectors have been the backbone of the Global Networked Economy, contributing $16 trillion in value in 2021. Industrial and Manufacturing Tech Market Development   This growth represents a 20 percent increase from 2020, highlighting the resilience and adaptability of these sectors in the face of unprecedented challenges, according to the latest worldwide market study by ABI Research . The five largest manufacturing verticals -- automotive, computer and electronic, primary metal, food, and machinery -

GenAI Revolution: The Future of B2B Sales Apps

When B2B buyers consider a purchase they spend just 17 percent of that time meeting with vendors. When they are comparing multiple suppliers‚ time spent with any one salesperson is 5 or 6 percent. Self-directed B2B buyer online research has already changed procurement. IT vendors are less likely to be involved in solution assessment. Now, more disruptive changes are on the horizon. By 2028, 60 percent of B2B seller work will be executed through conversational user interfaces via Generative Artificial Intelligence sales technologies -- that's up from less than 5 percent in 2023, according to Gartner. Generative AI Market Development "Sales operations leaders and their technology teams must prepare for the convergence of new forms of artificial intelligence, dynamic process automation, and reinvented deal-planning activities that will transform the sales function," said Adnan Zijadic, director analyst at Gartner . According to the Gartner assessment, Generative AI (GenAI) s