Some of the key industry and application sectors for 3D printing technology are consumer and commercial, medical, and manufacturing
Market Implications of 3D Printing (Technical Insights) - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 09:21:03
The future of three-dimensional (3D) printing and its market implications will be determined by the breadth and depth of application potential it carries, and its ability to unleash a whole new world of application segments. Right from printing a mobile phone cover to reconstructing human organs, 3D printing has shown its technology capability in the world of prototyping. However, 3D printing shows a very optimistic scenario and its impact in the future is expected to revolutionise and go beyond market predictions across multiple industries.
Some of the key industry and application sectors for 3D printing technology are consumer and commercial, medical, and manufacturing. According to Industry expectations the manufacturing (including aerospace and automotive), commercial, consumer applications will have quicker commercialization compared to the medical sector.
The global adoption of the technology scenario shows that North America leads innovation in terms of printing technology. Europe and Asia Pacific are soon catching up with this trend. With China´s interest and activities in developing the country´s 3D printing technology, the global adoption scenario is soon to change by 2016.
Since the IT industry boom, 3D printing has been the area of overwhelming IP registrations. While Japan showed high intensity of IP registrations, a closer look reveals that most of their patents are old and soon to expire which brings newer players from North America and Europe lead the IP scenario.
With excellent market prediction by industry analysts, public and private investors are keen on funding companies and universities having high innovation potential. Investors are also looking at companies, universities, and research labs that enter strategic partnerships as this would help commercialize the technology in a shorter time frame.
Since its inception, 3D printing has been increasingly adopted by the manufacturing industry. This scenario has immensely changed in the past few years with novel market application burgeoning due to technology innovation bolstered by the wide range of materials used for 3D printing. 3D printing will not replace conventional, mass manufacturing, at least in the near to medium term, but will be used as an alternative to conventional manufacturing techniques to make, for example, complex, light weight components or items that are hard to make using conventional plastic injection molding.
With the R&D and applications for 3D printing on the rise these days and with a high interest for adoption of this technology by a wide range of industrial sectors, this technology is seen to be increasingly used as an alternative to conventional manufacturing models in the next few years. The megatrends will be seen as one of the factors which will influence the innovations in 3D printing technology.
Multiple industries, such as commercial goods, nanotechnology, fashion and jewelry, aerospace, automotive, to name a few, have potential to adopt 3D Printing on a large scale, however it is the healthcare and consumer electronics sectors that would reap maximum benefits from convergence with 3D printing in the next few years.
3D printing has been in the market for more than two decades. With more players mushrooming in the industry and technology innovations taking place, the 3D printing ecosystem has been deepening. With strong collaborations between technology developers and research institutions, the market will escalate.
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