Rapid advancements in science and technology have given new meanings to almost every in-demand industry. To introduce smarter, intelligent, and cost-effective inventions, experts have gone above and beyond one’s imaginations. 3D printing is also one of these blessings. From high-end
apps for iPhone and Android smartphones to Augmented Reality and Virtual Reality based online exhibitions, trade fares, and meetings, modern-day technology has brought limitless possibilities for mankind. Consumer Technology Association and UPS shows that the 3D printing industry grew exponentially between 2012 to 2014 by almost 30% each year. Nowadays, it has been widely recommended as the best medium for prototyping by the majority of manufacturers around the world.
Although 3D printing has become widely common in almost every in-demand segment. There are a few industries that have considered it as one of the most primary elements. The top three segments in this regard include:
Consumer Electronics Automobiles Medical Devices
Believe it or not but these industries cover a huge chunk of manufacturing within the aforementioned industries. Just imagine that the medical devices segment accounts for 15% of the total 3D Printing market globally. To draw a more clear and realistic understanding, it is worth mentioning that almost 98% of modern hearing aids are now manufactured through 3D Printing.
keynote presentation that additive manufacturing or 3D Printing may not be able to fully replace the conventional manufacturing concepts. According to him, still, 85% of manufacturers in the world prefer traditional methodologies and approaches due to low material and labor costs, significant availability of other resources, and greater demand.
It can be easily said that 3D Printing has just started to reflect and show its importance and uses but it will definitely require some time to emerge as a mature and demanding industry on a global scale. Although several industries have adopted it as a primary means of manufacturing for many purposes still there is a lot to be covered after which it can thrive further around the world.
In the light of the above-given facts and industry insights, it is easily understandable that within a few days we will witness that 3D Printing has evolved as a major stakeholder in the manufacturing world. According to a report by a famous market research firm, the 3D Printing industry is expected to reach
$32.7B by the end of 2023. Keeping this in mind, it can be easily concluded that additive manufacturing might become a considerable segment soon.