The 3D printing market and its trends have been hailed as the second coming of manufacturing and the hype is yet to be fully realized. While the path to commercialization and mass production continues to face significant hurdles, the 3D printing market has definitely proclaimed unwavering interest. The 3D printing market is benefiting from increasing adoption in aerospace, automotive and medical applications. These markets are highly demanding ones with no compromise on quality, price, performance and designing capability.
"There are significant initial hurdles for 3D printing in the industry," states Lavanya Rammohan, Sr. Analyst. "By overcoming these challenges, 3D printing companies can expect to see tangible revenue and profitable growth in manufacturing environment. The stage is set with an increasing shift towards the formulation of smart factories and virtual factories."
Increasing technology, material and design advancements will be primary drivers for growing demand in the 3D printing market. The 3D printing market will see an increasing impetus to provide point-to-point integrated services. Development of eco-systems will be very important. The growth of 3D printing is not just about the printer. It is also about content and companies like Thingiverse that allow design illiterate consumers to download designs.
"The market will also witness a steady rate of consolidations as companies try to acquire engineering and other missing links to form a core differentiating strategy", continues Lavanya. "In addition to consolidations, there will be an increase in strategic alliances across distribution network to increase point of sales, dissemination of customer awareness and generate additional revenues from a services standpoint."
Key Findings Include:
- Increasing and continuous focus on reducing price.
- Increasing dependence and partnerships across value chain to elevate sales and distribution channels. More efforts will be levied to sell direct to customer.
- Focus on Design responsiveness and expediency- through software advancements.
- Manufacturing flexibility through design flexibility- starting with scalable volumes with the increasingly promising potential for high-volume manufacturing.
- Increasing consolidations focused on integrated service offerings.
- Increasing role of value chain companies as thought leaders leading to futuristic and novel applications of 3D printers.
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SOURCE Compass Intelligence