The future of 3D printing technology in a new study by Frost & Sullivan: Market share to increase to 40 percent by the end of the yearLONDON, Feb. 13, 2015 — (PRNewswire) — Amazing opportunities comes along with prototyping technologies, three-dimensional (3D) printing gaining momentum across various industries from printing a mobile phone cover to reconstructing human organs. Emerging as a technology of choice for a wide range of applications 3D printing is expected to increase its market share rapidly to about 40 percent by 2015.
New analysis from Frost & Sullivan, 3D Printing Technology – 9 Dimensional Assessment ( https://www.frost.com/d56c), finds that the trend toward personal manufacturing and small scale production is paving the way for 3D printing adoption. Along with well-established application sectors such as the automobile and aerospace segments, consumer goods manufacturing and healthcare applications offer immense scope for the technology.
For complimentary access to more information on this research, please visit: http://ow.ly/IB1Yy
"3D printing brings several performance and efficiency advantages to the table that translate into high quality; far greater than what can be achieved through conventional manufacturing," said Technical Insights Research Analyst Jithendranath Rabindranath. "Therefore, organisations are embracing various approaches to expand the applicability of 3D printing, accelerating uptake especially in Asia and North America."
However, the validity of the technology for large-scale systems and physical object manufacturing has not been clearly demonstrated. Further, the initial cost of establishing a rapid prototyping service is expected to be high, taking into account the steep initial investments and relatively modest production volumes.
Nevertheless, companies across the 3D printing value chain will benefit from the reduction in the amount of tooling and process steps, which will, in turn, cut down costs. This will also significantly minimise inventory and lead times, a defining factor for manufacturing companies.
"With burgeoning market potential and growing funding, the 3D printing ecosystem is taking shape," remarked Rabindranath. "The contribution of multiple industry participants such as confederations, research labs, universities, start-ups, and established firms will further quicken the development and commercialisation of 3D printing technology, products, and services on a global scale."
3D Printing Technology – 9 Dimensional Assessment, a part of the Technical Insights subscription, outlines and provides current status, societal impact, and business implications of 3D printing. The study also details innovations and market opportunities in the 3D printing domain evaluated following extensive interviews with market participants.
Technical Insights is an international technology analysis business that produces a variety of technical news alerts, newsletters, and research services.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
3D Printing Technology – 9 Dimensional Assessment
Corporate Communications – Europe
P: +7 (499) 213 0156
E: Email Contact
To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/3d-printing-expected-to-go-beyond-market-predictions-across-multiple-industries-300035824.html
SOURCE Frost & Sullivan
|Frost & Sullivan