3D printing is no longer just a new technology which has entered the market. Over the past couple of years it has brought about a vast change in the manufacturing process across different industries. In case of manufacturing, subtractive manufacturing was more popular which requires drilling, cutting or stripping away a larger material to create a smaller item. However, in case of additive manufacturing, raw materials are used to build a product right from the scratch. This reduces overall costs of production and removes waste. This additive manufacturing process is followed in 3D printing, and has made it quite popular in these past few years.
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Global 3D Printing Market to Grow in 2014
With 3D printing, automobile chassis, houses, clothes, human organs and even live tissues can be created. Visiongain, a business information portal has made estimations that the worldwide 3D printing market will grow rapidly in 2014 and will have a value of $3.32 billion. The additive manufacturing process along with the efficiency and cost effectiveness of 3D printing has made this technology even more popular.
Consumers might handle Production in the Future
Apart from making a strong impact in the manufacturing market, it is causing a shift in the consumer culture. Over time, consumers might be able to handle the production themselves instead of buying the finished products online or in a store. They might be able to just buy raw materials and a design file of the products and 3D print their own goods. This will bring about a huge change in global supply chain management and at the same time also change the behavior of product design.
Diverse Enterprise Users and Vendors
3D printing technology has diverse enterprise users with different business models, offerings and strategies. They work on medical devices, consumer electronics, aerospace, automotive, architecture, defense and many other areas of production.
Similarly the vendors of 3D printers are also diverse. They come in different shapes and sizes, from personal use 3D printers to costly machines.
Maximum Growth in next Two Decades
In the next two decades it is expected that the 3D printing market will grow rapidly. 2014 to 2019 will mark the beginning of this exceptional growth with new and substantial innovations in this field. When it comes to 3D printing, there are many more niches which are still untapped and vendors can exploit them. With the growth of this market, revenue generation will also be high in the coming decades.
What do you say?
Have you used any 3D printed product? What do you think is the most useful innovation related to 3D printing? Look forward to your views and insights in the comments below.
Image Source - www.ignant.de