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Insights
Experts also refer 3D Printing Technology as additive manufacturing which is defined as a process of manufacturing a three dimensional solid objects from a digital file. This technology creates objects through a sequential layering process. It is considered a disruptive innovation in the area of the manufacturing industry. This technology is increasingly being adopted to produce parts or products that cannot be manufactured with the help of traditional machines or laser processing methods.
3D Printing Technology is foreseen to create rapid growth in the manufacturing industry as it is highly efficient and customizable for its potential application across varied industries. Rapid prototyping is has been very convenient through 3D printing technology.
Industry experts believe that 3D printing technology is foreseen to revolutionize the industrial manufacturing industry in the upcoming five to ten years. It is also expected that 3D printing technology will change and revolutionize the way that industries operate and shift the market environment. It generally applies to complex and low volume products.
Market Dynamics of 3D Printing Technology
Growing demand for reduction in manufacturing cost and process downtime couple with the increasing government investments in 3D printing projects is anticipated to drive the growth of 3D printing technology.
High cost associated with 3D printing devices, limitation in production capacity and the enormous energy consumed by 3D printing to produce items is restraining the growth of this market.
Ongoing research & development activities, technological advancements & ease of operations are creating lucrative growth opportunities for the expansion of 3D printing technology in the market.
Experts are experiencing challenges in the growth of 3D printing technology while ensuring product quality and in case of copyright. Industry experts also face a challenge in seeking a technically skilled person for the functioning of 3D printing technology.
Benefits that Experts Suggest for 3D Printing Technology
Various benefits offered by 3D Printing technology includes
- Reduction in labour cost, machine cost, and material cost
- It enables quicker and more flexible product manufacturing
- It reduces the chances of errors.
- 3D printing technology ensures prototyping and in-house manufacturing
- 3D printing technology experts believe that it carries the potential to create a great impact on after-sale business
- It is flexible and has the potential to fulfill on-demand and tailor-made customer requirements
End-use Industries of 3D Printing Technology
The End-use industries of 3D Printing Technology are:-
| END USE INDUSTRIES | ||
|---|---|---|
| Automotive | Aerospace & Defense | Healthcare |
| Consumer Goods | Energy & Power | Fashion & Jewelry |
| Electronics | Industrial Manufacturing | Electronics |
| Education | Food | Energy & Power |
| Dental | Architecture and Construction | Others |
Summarizing Experts Viewpoints
Industry Experts believe that 3D printing technology will revolutionize the entire manufacturing industry has the potential to balance the production of goods ranging from food to automotive goods. According to a 3D printing technology expert, this technology is majorly used by R&D department and Design department of a firm. Manufacturing experts are able to increase their production capacity, production flexibility, sales and revenue by the implementation of 3D printing technology. According to an article by Forbes, 64% of A&D have started deploying 3D printing technology for their production process. 3D printing technology is considered to be the vital and best alternative to conventional manufacturing procedures in the era of digitalization.
ExpertsConsult is a leading expert network and expert recruitment services firm. This article has been published after a through secondary research and with insights from a leading 3D printing technology development manager from the United States and Director level executive of 3D Printing technology from Europe.