The growing adoption of 3D printing designing, manufacturing, and customization of products can be attributed to its ability in improving design efficiency and reducing manufacturing errors, time, and cost. 3D printing technologies have been adopted across different industries such as healthcare, automobile, defense, consumer products, machinery, and aerospace. Increased manufacturing speed is one of the major advantages of 3D printing technology when compared with traditional manufacturing methods. The low cost of manufacturing is another significant factor propelling the adoption of 3D printing technology among end-users across various industries. Therefore, 3D printing is finding wide applications in consumer goods such as jewelry, as it allows cost-effective, single-run production of custom jewelry. Thus, increasing adoption of 3D printing across industries will drive the growth of the global 3D printed jewelry market during the forecast period Our analysts have predicted that the 3D printed jewelry market will register a CAGR of over 26% by 2023.
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Market Overview
Increasing popularity of e-commerce channels
The penetration of internet and the availability of smart gadgets increased access to online shopping platforms. Most of the vendors in the global 3D printed jewelry market are offering their products through online distribution channels. Wider internet penetration, increased consumer trust in online retail, faster shipping services, and the fragmentation of consumer choice play a significant role in global 3D printed jewelry market growth.
Lack of trained professionals.
To obtain high-quality finished products, the 3D printing in jewelry designing requires skilled technicians to deal with product design, material technology, and data management. Adequate knowledge about 3D printers and their functioning, material handling, pre and post-processing, and other skills are required for workers in additive manufacturing to ensure seamless operation. The lack of skilled manufacturing expertise and the unwillingness of people in the newer generations to enter the manufacturing sector have significantly increased the labor costs. Hence, many positions for technically skilled machine operators remain unfulfilled over long periods. Hence, these factors might pose a challenge for 3D printing technology, which, in turn, affect the growth of the global 3D printed jewelry market.
For the detailed list of factors that will drive and challenge the growth of the 3D printed jewelry market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be highly concentrated. The presence of several companies including Shapeways Inc. and YIELD makes competitive environment quite intense. Factors such as increasing adoption of 3D printing across industries and increasing popularity of e-commerce channels, will provide considerable growth opportunities to 3D printed jewelry manufactures. Arlette Gold Ltd., Imaginarium (I) Pvt. Ltd., Nervous System Inc., Shapeways Inc., and YIELD are some of the major companies covered in this report.
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