One of a market researcher’s key roles is to uncover the trends of today that will impact your field tomorrow. Staying on top of these developments allows you to react in time and remain competitive. With this in mind, let us take a look at one of the most revolutionary changes to happen to the manufacturing industry in years: 3D printing.
News outlets like Forbes are already taking notice of the impact that 3D printing is having in the manufacturing field. The frontier of 3D printing technology has moved away from casual prototyping or hobbyist fancy into real-world applications with supreme economic benefits.
This market force should not be underestimated. Here is just a sample of how much 3D printing/additive manufacturing has penetrated the manufacturing world and already begun to trigger a paradigm shift.
Brands Gearing Up for Additive Manufacturing
The current capabilities of 3D manufacturing may seem incredible now, but hundreds of companies across the globe are gearing up for full-scale deployment that may turn the manufacturing industry further on its head.
Harvard Business Review reveals that 11 out of 100 participants in a survey of major manufacturers already have full-scale 3D printing production lines. Companies like GE, Boeing, Lockheed Martin and Google are already deploying 3D manufacturing facilities. Sales of the industrial-grade printers needed already approached a third of the total volume of industrial robotics and automation equipment.
Altogether, the global market for 3D printing manufacturing techniques is expected to swell to $12.8 billion by 2018 and $21 billion by 2020. Revenues from sales of 3D printing to design and manufacturing firms already topped $609 million in 2014, a 27 percent increase from the year before. One firm even estimates that 67 percent of manufacturers are already utilizing 3D printing in some capacity within their facilities.
Leading industrial economies of the world are already bracing themselves for this dramatic shift by incorporating 3D printing and engineering principles into their curriculum. China, for instance, has installed an estimated 400,000 3D printers into schools and universities. Korea and India are likewise expanding their capabilities both in an educational and production-focused setting.
Stay on Top of 3D Printing/Additive Manufacturing Market Trends
When fully-realized, 3D printing promises to vertically integrate hundreds of manufacturing functions, develop previously impossible-to-mass-produce products and deliver unseen capabilities, like 3D circuit board architecture. Companies are already bracing themselves for these changes, restructuring in anticipation of the revolution that 3D manufacturing will bring.
In light of all this disruption, the market of manufacturing may soon become unfamiliar. Manufacturing companies must keep an ear to the ground if they want to remain competitive and viable as this revolutionary transition takes place.
Let CFR help reveal the mysteries of what the future may hold in a 3D printed world with market research and analysis of current manufacturing trends. Request a quote today to learn more.
