WITH the emergence of 3-D printing, whoever thought the “Star Trek replicator” would stay fictional may be proven wrong. This concept has become one of the premier disruptive technologies transforming traditional industrial models and sparking a new industrial revolution. The possibility of 3-D printing’s evolution from a tool to create jewelry and spare parts to one that can print cars someday is redefining the scope of several industries. Only after 2020, however, will the technology reach tipping point and begin to print complex metal systems and large aircraft parts.
New analysis from Frost & Sullivan, Future of 3-D Printing—Key Implications to Industries, expects the market to witness a three-fold increase in current revenues to reach $21.50 billion in 2025.
The aerospace/defense and automotive segments are among the early adopters of 3-D printing technologies. Using these technologies, participants in these industries have realized significant time savings in developing prototypes and experienced shorter product development cycles.
With improvements in supporting technologies, 3-D printers will become faster, more accurate and thus better suited for mass manufacturing practices. As 3-D printing technology is in an early stage of development, it cannot directly compete with traditional technologies in the manufacturing sector. Further, while the costs of these technologies have fallen dramatically from 2007 and made manufacturing-on-demand a reality, they are still too stiff for customers to bear.
“It is important to lower cost of ownership through establishment of global standards for 3-D printing raw materials,” said Frost & Sullivan Visionary Innovation Research Group senior research analyst Robin Varghese. “This will fuel mass adoption of 3-D printers in the household and allow more manufacturers to document, relay and realize demand in real time, eliminating the need to store finished products based on forecast demand. Such standards will also lead to the emergence of numerous stand-alone 3-D printing raw material manufacturers.”
3-D printing technologies also have the potential to drive economies of scale for small, innovative enterprises. Their ability to facilitate mass customization is the most attractive proposition. Market leaders have begun adjusting sales, distribution and marketing strategies to cater to end users’ custom specifications of products as well as print and deliver 3-D printing solutions to their doorstep.
“With a fragmented yet open value chain and no clear one-stop-shop solutions, the market is seeing many solution providers monetizing 3-D printing by offering value added services that revolve around design and customization,” said Frost & Sullivan Visionary Innovation Research Group team lead Archana Devi Vidyasekar. “Business models such as in-house 3-D printing, contract manufacturing, 3-D printing as a service and retail 3-D printing are also emerging as means to enhance profitability.”
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Technology to reach tipping point after 2020
Source:Ringier Metalworking Release Date:2014-11-25 220
Metalworking
New analysis from Frost & Sullivan, Future of 3-D Printing—Key Implications to Industries, expects the market to witness a three-fold increase in current revenues to reach $21.50 billion in 2025.
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