3d Printing Essay

885 WordsApr 13, 20154 Pages
[Name] [Instructor’s Name] [Subject] [Date] MARKETING ANALYSIS Making of any solid object of virtually any shape from a digital model is known to be the function of “3D printing” or “Additive Manufacturing”. A 3D printing is a limited type of industrial robot which is capable of carrying additive functions and process with computer control. It is a revolutionary emerging technology that has the tendency and capability to up-end the last two centuries of approaches of design and faster and reliable manufacturing capacity. It works on the formula of adding layers or substances into the process unlike the traditional approach where subtracting was the emphasis and only way to carrying the process. This seemingly less distinction of adding rather than subtracting means everything and it is determined and claimed to be the game changer. Market Growth Rate The 3-D printing sector is a growing sector which is expected to reach lots of success in the near future. According to an independent research it is expected that this industry will grow and reach $16.2 billion by 2018. The market’s growth rate is massive which can be seen from a $1.3 billion rise within a year. The reason for such high growth rate is due to the fact the manufacturing process has shifted towards a technological process where products are made which are real, innovative and robust. This market is transforming everything from medicine to home products. From a recent Lux research it has been estimated that this sector will gain a market size of around $8.4 billion in 2025. This is a revolution in the manufacturing market which is redefining the manufacturing value chain. Different companies have estimated the market growth of this sector. According to Wohler’s Associates, the sale of the 3D printing products will reach $10.8 billion in 2021 equaling 20% of compounded annual growth rate. The

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