Product Development Companies across the globe uses 3D printers in manufacturing new products having a unique set of features. Few years before, 3D printing was a unique category and posh technology with limited real-world application; hence, its use was limited and restricted to specific manufacturing processes. However, with the advancement in manufacturing technologies, 3D printing is widely used in manufacturing products for different industries, including healthcare, aerospace, automotive, musical instruments, and consumer durable products to name a few. As per a report from “ReportBuyers”, the demand for 3D printing across the globe is forecasted to grow at a CAGR of 45 percent over the period 2014-2019. – The Global 3-D Printing Market to be worth $21.5 Billion by 2025.
As 3D printing is likely to transform into one of the groundbreaking business technologies that every office will have by 2020, the retail industry is enjoying specific help from inventions developed with 3D printing.
Simplified Product Prototype Development Process
A product development company uses 3D printing as a common tool for product prototype development; however, it recently gained grip among retailers and investors. According to John Hauer, CEO and Co-Founder of 3DLT, the easy use of rapid prototyping a custom product with the help of 3D printers will guide to more localized product development, which will help decrease supply chain expenses and produce a superior product from the foundation. He also stated that due to revolutionary advancement in 3D printing technology, product’s time to market is reduced drastically, possibly as well-designed new products with useful customer reaction as they are able to test a fully functional prototype of the product.
John Hauer also said that retailers normally spend thousands of dollars – and sometimes millions and billions – trying to predict what varieties of products they should be purchasing. 3D printing allows product manufacturing companies to produce and supply custom products in limited quantities in real times, offering honest vision into which products will truly create demand. For instance, if a 3D prototype is acclaimed by end-users, it can then be bulk manufactured through traditional manufacturing processes to satisfy rising demand.
More Selection in the Cloud with Less Cost
Retailers like Staples are carrying 3D printing to their store locations to check the value of offering the service to their clients and simultaneously, making them aware about the technology.
Imagine 3D printing as a workshop in the cloud that facilitates a retailer to provide thousands of extra SKUs to its end-users without demanding more space for inventory. As a 3D-Printed product normally occur as a template saved to the cloud, the product is set to be developed in intended amounts once a purchaser is planning to buy or the request is there for a specific product line.
The retailer and consumer both gain from reduced supply chain expenses, along with the ease of using a product from a mutual network. John Hauer said, “The idea that you can have a product when you want and where you want—there’s some value to that. Maybe consumers will be willing to pay more for that.”
With every passing day, more and more businesses consider 3D printing along with other progressive technologies such as the Wearable Tech and Internet of Things, prospects for innovation. The future of 3D printing is very bright, and as an entrepreneur, if you don’t focus on advantages offered by these emerging business tools, then unfortunately, you are likely to be left behind.
To know more about how 3D printing and other relative technologies can help your business flourish, feel free to contact product development experts at 714-323-1052. GID is a product development company based in California, USA, having a strong portfolio of innovative product development. Professional services of qualified and experienced product designers and engineers at the GID Development Corporation guarantees long-term success. To discuss the feasibility of your concept, contact them at https://www.gidcompany.com/contact-us.