Report Predicts Rapid Growth for Rapid Prototyping, 1 in a Series

By Sara Ferris

Frost & Sullivan released a new report on World Rapid Prototyping Equipment Markets, which includes revenue forecasts, technology developments, and market trends in the industry.

According to the report, total market revenues reached $300.0 million in 2006.  Frost & Sullivan expects that figure to reach $859.4 million in 2013.

The report covers 3D printers and high-end rapid prototyping equipment. In addition, Frost & Sullivan breaks the market into segments based on application: concept modeling, rapid prototyping, and rapid manufacturing.

According to the report, the evolution of 3D printers now makes concept modeling and rapid prototyping affordable for most end users, fueling explosive growth in this area. Despite this activity, most manufacturers are not using rapid prototyping.

“Even though rapid prototyping has been adopted early on by the automotive and aerospace markets, research indicates that only a handful of companies, about 15 to 20 percent of the end users worldwide, have taken advantage of the various rapid prototyping technologies,” says Frost & Sullivan Senior Research Analyst S. Vidyasankar. “This clearly demonstrates that the technology’s potential has not reached the end users over the years, and thus highlights the need to elevate their awareness levels.”

The report suggests that vendors need to educate end users about the cost and acquisition of new equipment as well as the capabilities of various technologies.

The use of additive fabrication technology for rapid manufacturing is gaining traction, especially for low-volume applications. Rapid manufacturing is particularly appealing when part complexity is difficult to handle using traditional manufacturing processes—for example, hearing-aid manufacturing. The report anticipates that rapid manufacturing will become mainstream in the future and eventually drive the growth of the rapid prototyping equipment market.

“There is also an increasing interest and growing trend toward services within the rapid prototyping market,” says Vidyasankar. “Even though many participants work closely with service bureaus, customers have forced rapid prototyping equipment manufacturers to provide services, thereby creating key opportunities for rapid prototyping vendors to develop their own service departments that meet customer requests for short-run rapid manufacturing and rapid prototyping needs and thereby grow in business.”

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Sources: Press materials received from the company and additional information gleaned from the company’s website.