Increasing adoption of additive manufacturing for tools is expected to pave the path for new opportunities to stakeholders across the ecosystem

(EstateNewsWire.com, February 26, 2019 ) Visualization and 3D rendering software are experiencing high adoption trends among various industry verticals, as it provides users ability to create a fast, realistic picture, design of prototypes and offer users with the complete visualization of space for presentation and complete understanding before building anything. It helps companies to optimize their available space, resources and allows companies to avoid errors proactively and in ensuring better designing before making real products. Visualization and 3D rendering software solutions work as an effective marketing tool for enterprises as it helps them to create better visualization of available space for client presentation and other activities.

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The manufacturing industry is further driven by the product lifecycle concept and for industries such as automotive, aerospace, and heavy machinery, the product lifecycle is quite big usually ranging between three to twenty years. Thus, manufacturing parts for these industries strategically requires the use of additive manufacturing where each body part would be manufactured separately and further used over the years.

Adoption of AM has been highest in industries where the additional value AM outweighing its higher production costs can generate improved product functionality, higher production efficiency, greater customization, shorter time to market, and reduced obsolescence, particularly in asset-heavy industries. Engineering-intensive businesses such as aerospace, automotive, and medical can accelerate prototyping, allowing them to explore completely new design features or create fully individualized products at no extra cost. High-value/lower-volume businesses see faster, more flexible manufacturing processes, with fewer parts involved, less material wasted, reduced assembly time for complex components, and even materials with entirely new properties created. And spare-parts-intensive businesses in fields such as maintenance, repair, and overhaul get freedom from obsolete parts, faster time to market, more local and on-demand production opportunities, and independence from traditional suppliers.

The advanced countries from North America and as well as the developing economies from APAC who largely depend upon the manufacturing sector are observed to be the frontrunners in the installations of additive manufacturing solutions whereas the market is gathering steady pace in other regions of the world, especially in South American countries. Consistent expansion of applications of the additive manufacturing is expected to foresee rapid growth in the coming years. Further, the rapid industrialization in the developing economies has led to a booming manufacturing sector and attracting further investments into the advancements of the manufacturing industry.
Leveraging upon the investments provided for advanced manufacturing, the market for additive manufacturing is anticipated to receive a huge boost in the coming few years. Also, it offers huge opportunities for the market players to tap upon.

Some of the key players operating in the additive manufacturing market include 3D Systems, Stratasys, Inc., Arcam AB, EOS GmbH, 3T RPD, LTD., Envisiontec Gmbh, GPI Prototype, and Manufacturing Services, 3D Hubs, Sciaky, Inc., and ProtoCAM among others.

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The Insight Partners

Sameer Joshi

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sam@theinsightpartners.com

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