The printing industry is indeed a very large industry with many subsets and 3D printing and rapid prototyping is one of the active lines of business in the printing industry.
Generally, establishments in the 3D Printing & Prototyping Services industry offer 3D printing and rapid prototyping services. A 3D printing and prototyping service is the automatic construction of physical objects using additive manufacturing technology. The process includes melting or softening material to produce layers, laying liquid material thermostat that are cured and cutting thin layers to shape that are then joined together.
The 3D Printing and Rapid Prototyping Services industry over time has experienced rapid growth and this is due to rapid technological advancements, falling costs and new uses for 3D printing technology. Going forward, the demand for 3D printing and rapid prototyping service and of course the revenue generated is projected to increase rapidly as 3D printing and rapid prototyping explode in popularity and accessibility, especially in consumer markets.
The 3D Printing & Rapid Prototyping Services Industry is indeed a very large industry and pretty much active in all parts of the world. Statistics has it that in the United States of America alone, there are about 151 registered and licensed 3D printing and rapid prototyping services companies responsible for employing about 3,814 and the industry rakes in a whooping sum of $492 million annually.
The industry is projected to enjoy 3.7 percent annual growth and the establishments with the dominant market share in the 3D printing and rapid prototyping industry are 3D System Inc. and Stratasys.
Research carried out by IBISWORLD shows that the 3D Printing and Rapid Prototyping Services industry exhibits moderate level capital intensity. The report shows that for every $1.00 spent on labor, the average industry operator is estimated to invest about $0.14 in capital equipment. The average firm’s primary capital investment comes in the form of actual 3D printers.
They also stated that printing service companies source these machines directly from 3D printer manufacturers. 3D printers and rapid prototyping equipment form the majority of a firm’s initial purchases and can be of great cost. The report further states that the industry wages are anticipated to account for roughly 42.2 percent of revenue in 2015. This ratio may seem high; however, the industry’s employees are typically more skilled than other types of printing service-related businesses.
If you are looking towards starting your own 3D printing and rapid prototyping services business, then you should endeavor to learn the trade. The truth is that the technology and processes involved in this line of business is one that will require a period of time (months) to learn.
Over and above, the 3D printing and rapid prototyping services industry is pretty much open to new entrepreneurs and investors to come in and build a successful business. But they must first and foremost ensure that they conduct thorough feasibility studies and market surveys before situating the business in any location. This is very important because this type of business is better located in an area that has available market for its services.
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