The industrial 3D printing market is one the largest market and further anticipated to gather highest market share in the overall 3D printing industry over the forecast period demanding huge investments in technology, introduction of new materials, channel partnerships and vertical integration across the value chain. Industrial sector is driven by contemporary mass customization aspects, internet of things (IoT) and upcoming administrative initiative invoking introduction of 3D printing in manufacturing sector. Aerospace and select automotive company officials have started to incorporating dynamic 3D printing opportunities to fabricate customized design seeking intense technological redeems. These segments sequentially harvest rewards pertaining to unique propositional new product launches in concerned niche segments and aligned skimming expense charge benefits.
Industrial 3D printing portrays a broad portfolio of customized manufacturing solutions that organizations deploy to support processes confined to through design and manufacturing peculiarities. Additive manufacturing practices and 3D printing are being concurrently deployed to gather select parts or comprehensive product as a whole, backed by software’s assisting their simultaneous assembly. Majority of companies are still in their experimental phase of determining the conjunction between ‘practice 3D printings’ and their existing manufacturing and corresponding accumulation processes.
All the major raw materials suppliers, 3D printer producers and aligned systems purveyors are foreseen to have huge stake in this market as industries diverging from electronics goods fabrication to healthcare systems. Designer and manufacturer are progressively demanding customized solutions thereby enabling a dynamic phase change in 3D printing market from rapid prototyping to mass production of associated merchandises. Market for industrial applications is foreseen to attain a phenomenal surge owing to strict regulatory mandates in technological solutions enforcing industries to meet quality standards and aligned environmental protection norms.
Industrial 3D printer simplify production management and fast-track the deployment of customized complex design goods for select manufacturing proceedings. Furthermore, government investments to promote higher productivity by enforcing quality standards, principle in manufacturing sector is foreseen to emerge as a major driver for the industrial 3D printing market. As industries are facing vibrant phase revolution from legacy production philosophies to computerized philosophies such as AI in their production approach.
The benefit of such assorted environment is that decision makers can select the solution that is best suited to their workplace facilities and associated production schedule that would reap high ROI of 3d printers and aligned training delivered to train workforce. The Regulatory compliances reduced capital expenditure and operating expenditure pertaining to production expenditure, frequently changing workplace dynamics, growth of dynamics technology platforms, shortcomings of traditional manufacturing are expected to grow as major driving factors for the 3D printing market in industrial sector.
High initial principal funding and deciding a suitable configuration 3D printer to satisfy production motive, limitations of product size and lack of overall standard control process are some factors that are expected to hamper the industrial 3D printer’s market growth. Potential to amplify production and aligned supply chain management delivery, along with the consideration of untapped markets in end user industrial would emerge foremost opportunities for the 3D printing vendors in the industrial sector, 3D printer vendors would witness fronting challenges in terms of ensuring sophisticated product quality, limitations of designing tools.
Industrial 3D Printer market can be segmented on basis of technology, materials and end user. Further segmentation on basis of material type includes; plastic, ABS plus, metals and aligned others raw material. Plastic and metal base solutions are anticipated to witness exceptional growth on account of portable electronics and healthcare. Based on technology segmentation includes Polyjet technology, Direct metal laser sintering (DMLS), fused deposition modeling (FDM), multi-jet printing (MJP), selective laser sintering (SLS) laminated object manufacturing (LOM) and others. Further 3D printing can be segmented on the basis of end user includes aerospace, architectures, automotive, commercial products, defense, health care, education and others.
Some of the key players serving the industrial 3D printing market during the forecast period comprise of SLM Solutions NA, Inc., Stratasys Ltd, Autodesk Inc., Materialise NV, Arcam AB, New Valence Robotics Corporation, 3D Systems, Inc., Eos GmbH and Envisiontec, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.