This is a press release from Technavio
tober 24, 2016 — LONDON — (BUSINESS WIRE) | Technavio analysts forecast the global 3D printing market in education to grow at a CAGR of more than 28% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global 3D printing market in education for 2016-2020. The report also examines the present scenario and the growth prospects of printers, materials, and services from educational institutions. The market has been segmented based on the following components: services and materials and 3D printers.
“Like augmented reality (AR) and virtual reality (VR), 3D printing is pegged as one of the future technologies in the education market. Given its strong inherent features to simplify the learning process of complex subjects, mainly pertaining to STEM subjects, many universities are proposing the inclusion of this technology within the science and engineering programs,” says Jhansi Mary, a lead analyst at Technavio for education technology research.
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Technavio education sector analysts highlight the following four factors that are contributing to the growth of the global 3D printing market in education:
- Ability to enhance learning process
- Need for experimental learning
- Emerging delivery models
- Initiatives to improve efficiency of 3D printing
Ability to enhance learning process
The application of 3D printing technology in education helps enhance the quality of illustration and also simplifies complex concepts through interactive visualizations. Furthermore, simulation and modeling tools designed through 3D printing devices help explain concepts in 3D and temporal scales. The use of data displays, timelines, and interactive maps offer visual links between lessons taught and new ideas.
3D printing technology has transformed the learning process of subjects such as physics, environmental sciences, mathematics, and chemistry. With the implementation of these technologies into curricula, students’ level of interest for science, technology, engineering, and mathematics (STEM) education will rise. This will increase enrollment rates in STEM streams.
Need for experimental learning
Organizations prefer graduates who are well-versed with industry-related skills. However, the current education system is rigid and does not facilitate processes to imbibe such skills in students, leading to a shallow talent pool. As a result, organizations have to spend significant time and effort in learning and development activities to bridge the skill gaps. Such challenges are reducing the employability prospects of students, which, in turn hampers educational institutions’ reputation.
As a preventive measure, institutions are preparing students from the employability perspective, mainly for key industries such asmanufacturing, healthcare, aerospace, and automotive. As most of these industries require personnel with knowledge in STEM subjects, institutions are compelled to design their learning spaces and curriculum to meet these industry needs. As a result, while consolidating the digital hardware infrastructure, institutions are deploying hardware such as 3D printers.
Emerging delivery models
The advent of online and cloud technology in 3D printing is expected to revolutionize the entire process of procuring printers and required products for printing. Many educational institutions are inclining toward online and cloud services to procure 3D printed products. Through cloud and online technology, educational institutions can create and order customized designs from vendors’ websites, and products are directly delivered to schools or institutions. Designs created by institutions are saved in cloud storage for future reference. This type of service involves a one-time, up-front capital investment and eliminates other costs associated with service deployments, such as raw materials, software maintenance, and support.
Initiatives to improve efficiency of 3D printing
As application areas of 3D printing increase, the setup for 3D printers in educational institutions will require essential support to manage the elaborate facility. To help institutions manage 3D printer equipment and 3D printing materials, vendors have started launching networked 3D printers that provide administrators of educational institutions with a centralized control of all the available 3D printers and materials.
Vendors further provide an accounting software for printers that help educators estimate the time and cost spent on 3D printing. As most of the educational institutions are relatively new to 3D printing, such developments will enable effective cost management of a 3D printing setup. Furthermore, while 3D printers from vendors such as Stratasys are renowned in the education market, globally not many educational institutions can afford expensive 3D printing facilities. To overcome this challenge, various domestic and international vendors have started manufacturing affordable 3D printers that use inexpensive and safe plastics as printing materials. This will contribute to the sales volume of 3D printers. “Another development that will significantly improve the efficiency of 3D printing is the invention of new file formats in which 3D printing data will be shared,” says Jhansi.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.