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Frost & Sullivan report predicts three-fold increase in 3-D printing revenues by 2025
- November 18, 2014
- News Release
- Shop Management
Three-dimensional printing has become one of the premier disruptive technologies transforming traditional industrial models and sparking a new industrial revolution, according to Frost & Sullivan, a business growth strategist in Mountain View, Calif. The possibility of 3-D printing’s evolution from a tool to create jewelry and spare parts to one that can print cars is redefining the scope of several industries. Only after 2020, however, will the technology reach a 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, reaching $21.50 billion in 2025.
The aerospace, defense, and automotive sectors 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 better suited for mass manufacturing practices. Since 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 still are too stiff for customers to bear, the company reports.
“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 forecasted demand. Such standards will also lead to the emergence of numerous stand-alone 3-D printing raw material manufacturers.”
Three-dimensional printing technology also has the potential to drive economies of scale for small, innovative enterprises. Its 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 also are emerging as means to enhance profitability.”
More information on this research is available at http://bit.ly/1zfdzvJ.
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- 03/05/2024
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- 65:35
After Ludlow Manufacturing Inc. (LMI) received The Fabricator's 2024 Industry Award, Todd Ludlow, founder and president of the...
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