NEW YORK--(BUSINESS WIRE)--Shapeways (NYSE: SHPW), a leading global digital manufacturing platform driven by purpose-built software, offers five predictions for additive manufacturing in 2022 based on strong market momentum, increased technology investments, and strengthened industry partnerships and collaborations over the past year.
“We expect additive manufacturing to gain significant traction in the coming year, especially in digitizing, automating, and innovating critical manufacturing workflows,” said Greg Kress, CEO of Shapeways. “As traditional manufacturers increasingly enjoy newfound operational and cost benefits, we forecast an increased cadence of 3D printing adoption, which will drive the development and delivery of more customized and personalized products while alleviating lingering supply chain challenges.”
1. Traditional Manufacturing Transforms with Digital Workflows
Interest in additive manufacturing will surge, especially in addressing demands for high-mix, low-volume production runs. This will motivate manufacturers of all kinds and sizes to transform their operations through the use of increasingly digital, end-to-end manufacturing processes. Companies that embrace new ways of doing business with digitized, additive manufacturing will reap the benefits of enabling product design innovations and faster time to market while reducing capex and inventory costs.
2. Purpose-Built Software Can Speed the Acceptance of Additive Manufacturing
Traditional manufacturers, large and small, certainly know the value of software. Whether it’s an ERP, CRM or CEM, for decades software has been an integral part of streamlining operations while helping meet demands for high-volume production with superlative quality and efficiency. Yet what has been missing is purpose-built software designed specifically to support additive manufacturing’s unique process flows regarding how products are designed, made, and delivered.
Shapeways’ recent Otto software announcement gives manufacturers a way to gain free access to 3D printing by automating processes while validating quality end to end. While 3D printing now is mainstream among 75% of the mid-sized manufacturers polled in Shapeways’ recent “State of 3D Printing” survey, more flexibility is needed to meet demands for quality, personalization and sustainability.
3. Customization is King
Embracing additive manufacturing yields the potential to design, create, and deliver products that are limited only by one’s imagination. While this pertains to every conceivable market, arguably none can make as life-changing a difference in daily lives as the potential for additive manufacturing in the medical/healthcare markets. A recent market report expects the 3D printing medical market to grow from $2.4B this year to $5.1B by 2026. Expect massive advancements in 3D-printed surgical guides and instruments as well as customized implants, wearable devices and prosthetics.
Other markets like NFTs (short for non-fungible tokens) have been around for a while, but are just coming into their own as a substantial way to invest or increase revenue. Appealing to buyers as a unique digital currency, it is easy to see why NFTs are so easily translated to the 3D printing industry. For businesses around the world, this opens up an infinite and so far untapped market of opportunities for digital files turned into 3D printed models–allowing NFTs to come to life in full color, with a wide range of options in materials and finishings. In some cases, NFT models are also sold as an alternative to owning the actual digital file, leaving the door open to sizable production runs, depending on the popularity of an item.
4. Additive Manufacturing will Alleviate Supply Chain Woes
Savvy organizations understand that additive manufacturing has an important role to play in reducing the lingering effects of supply chain disruptions. Not only does 3D printing permit products to be manufactured on demand, it enables them to be produced and delivered locally. This reduces logistics requirements, including transportation and local storage, to ensure on-time, on-budget fulfillment.
5. Investments and Partnerships will Drive Market Growth
Headlines were busy in 2021 reporting on the constant activity in the additive manufacturing market. Aside from Shapeways’ IPO in late September, market watchers followed additional IPOs, M&A transactions, and a steady stream of new partnerships. Shapeways also announced a partnership with Desktop Metal to ensure broader access to world-class additive manufacturing services.
In 2022, the level of interest should continue rising as well-known names in the manufacturing and consumer goods industries step up their interest and investments in 3D printing technologies and services. At the same time, continued innovations may come from groundbreaking start-ups or smart collaborations among players of all kinds. Shapeways’ survey found that 68% of industry executives polled agreed that 3D printing is the future of manufacturing.
About Shapeways
Shapeways Holdings, Inc. (NYSE: SHPW) is a leading digital manufacturing platform provider offering customers access to high-quality manufacturing from start to finish through automation, innovation, and digitization. The company’s purpose-built Otto software, wide selection of materials and technologies, and global supply chain lower manufacturing barriers and speed delivery of quality products. Shapeways’ digital manufacturing services have empowered more than 1 million customers worldwide to produce more than 21 million parts using 11 different technologies and 90 different materials and finishes. Headquartered in New York City, Shapeways has ISO 9001-compliant manufacturing facilities in Long Island City, N.Y., and the Netherlands and a network of innovative partners around the globe. It was founded in 2008 and spun-out of the Lifestyle Incubator of Royal Philips Electronics in 2010. Investors include Lux Capital, Union Square Ventures, Andreessen Horowitz, INKEF Capital, Index Ventures and Hewlett Packard Ventures.
Special Note Regarding Forward-Looking Statements
Certain statements included in this press release are not historical facts and are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, and prospects are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management of the Company and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; failure to realize the anticipated benefits of the transaction; the risk that Shapeways has a history of losses and the Company may not achieve or maintain profitability in the future; the risk that the Company faces significant competition and expects to face increasing competition in many aspects of its business, which could cause the Company’s operating results to suffer; the risk that the digital manufacturing industry is a relatively new and emerging market and it is uncertain whether it will gain widespread acceptance; the risk that the Company’s new and existing solutions and software do not achieve sufficient market acceptance, and those factors discussed in Galileo’s Registration Statement on Form S-4, under the heading “Risk Factors,” and other documents Galileo has filed, or the Company will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans, or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
