Where is 3D Printing Headed?
A new study by the United Parcel Service, UPS Fifth Annual Change in the Supply Chain, shows, among other developments, that more and more high-tech firms are actively assessing how 3D printing and additive manufacturing can help change how they design and manufacture products.
Last December, IndustryTap reported on UPS’s foray into 3D printing for both consumer and business markets in UPS Rolling Out 3D Printing Services, and it is clear UPS is staying on top of the trend to expand its offerings in line with expected rising demand. UPS uses Stratasys printers in select UPS stores similar to those pictured above.
The 3D printing market, worth $288 million in 2012, is projected to grow to nearly $6 billion by 2017. That’s an astounding 82% CAGR according to Wells Fargo.
The following graphic shows how 3D printing has an increasing role in high-tech businesses:
- As high-tech manufacturers typically lead in innovation they see 3D printing as critical to success
- 70% of high-tech companies have hands-on experience with 3D printers
- 75% of high-tech companies use 3D printing in the design process
- High-tech manufacturers use 3D printing because it speeds up the manufacturing process and results in quicker time to market
The following video shows UPS and its 3D printing technology and service: