India is one of the countries where
additive manufacturing or technology is still at a nascent stage. But
market forecast reports suggest that the 3D printing market in India has
been growing steadily. Also, the “National Strategy on Additive Manufacturing (AM)” announced by the Government of India aims to drive and accelerate the growth of the 3D printing market in India.
In
India, 3D printing businesses have been contributing immensely towards
making various additive manufacturing technologies accessible to
individuals and enterprises. They make it easier for clients to 3D-print
parts and prototypes by supplying 3D printers, spare parts, and
materials. Also, they help clients overcome constraints related to
skills and resources by providing customized 3D printing services.
Every
3D printing business in India nowadays can leverage many business
opportunities. Likewise, they can achieve and sustain profitable growth
by choosing from various revenue models. We can divide various 3D printing companies in India
into multiple categories based on revenue models. The categorization
will help us understand how a 3D printing business in India contributes
to popularizing additive manufacturing technologies.
How Does a 3D Printing Business in India Generate Recurring Revenue?
Manufacturing 3D Printers
Enterprises from various sectors invest in industrial 3D printers to facilitate rapid prototyping and low-volume production. Likewise, individuals purchase benchtop or desktop 3D printers to convert innovative ideas into solid three-dimensional objects.
The growing demand for industrial and desktop 3D printers creates opportunities for many companies to manufacture 3D printing machines. At present, many companies in India are manufacturing 3D printers to cater varying needs of individual and enterprise customers.
Manufacturing 3D Printing Materials
Engineers these days have the option to choose from a wide range of 3D printing filaments. For instance, they can choose from a variety of thermoplastic filaments while using an FDM 3D printer. Likewise, SLS 3D printers allow them to choose from a wide variety of powdered filaments.
Engineers always focus on combining the right 3D printing machine and filament to produce a part or prototype accurately. Many 3D printing businesses cater to varying project needs by manufacturing both conventional and new-age 3D printing materials.
Supplying 3D Printers and Materials
Many companies in India these days generate recurring revenue by reselling and supplying 3D printers and materials. Some of these businesses produce 3D printers and filaments on their own, while others supply machines and materials manufactured by leading companies.
They further supply machines and materials to customers across regions through their websites. In many Indian cities, customers lack the option to find local shops dealing in 3D printing machines and filaments. Hence, they rely on such resellers and dealers to get the desired 3D printer and material delivered in a few days.
Providing 3D Printing Services
Most Indian lack the technical knowledge and expertise required to 3D-print items on their own. Likewise, enterprises in India outsource 3D printing and rapid prototyping processes to save time and curtail costs. Many businesses in India generate recurring revenue by providing various 3D printing services to individuals and enterprises.
They allow clients to share their needs in the form of a CAD file. While uploading the CAD file, the customer also has the option to mention specific printing instructions as well as choose the 3D printing technology and material. Many businesses these days deliver FDM, SLS, and SLA 3D printing services to customers across regions through their websites. Also, they boost print quality and reduce lead time by implementing many 3D printing best practices.
Supplying Accessories and Spare Parts
While using a 3D printer, users need specific accessories to boost the printing process and print quality. Likewise, they need spare parts on time to use the 3D printer efficiently and continuously. Many 3D printing businesses in India generate revenue by supplying accessories and spare parts to customers through their websites.
They make it easier for customers to use 3D printers by supplying spare parts and accessories in a short amount of time. Some of these businesses deal in accessories and spare parts manufactured by international companies, while others supply items manufactured in India.
Selling 3D-Printed Items
3D printing technologies foster innovation and encourage creativity by converting digital files into three-dimensional items. A person can use the right 3D printer to create solid and durable items with intricate designs and complex geometries.
Many entrepreneurs these days leverage additive manufacturing technologies to sell innovative and customized home decors and gift items through their websites. In addition to allowing customers to choose from a slew of 3D-printed items, they enable customers to convert their own designs into 3D-printed items using the right machine and filament.
Offering Courses and Training Programs
In addition to making conventional production methods obsolete, 3D printing technologies create new career opportunities across industries. Many engineering students these days learn additive manufacturing to create innovative parts and prototypes efficiently.
Likewise, many hobbyists and enthusiasts look for options to learn the next-generation technologies. Many 3D printing businesses these days generate revenue by offering 3D printing courses and organizing 3D printing workshops.
Conclusion
Every 3D printing business in India can generate recurring revenue by leveraging various business opportunities and revenue models. But there are many businesses that increase revenue by leveraging multiple opportunities. For instance, many 3D printing companies in India these days provide 3D printing services, along with supplying 3D printing machines and materials.
While
exploring business opportunities, entrepreneurs and business owners must
not forget that additive manufacturing technologies have been evolving
consistently. They can sustain growth in the long run only by allowing
clients to choose from a wide range of 3D printing products and
services. Also, they must beat the competition by meeting changes in
customers’ needs and expectations.
References
https://manufactur3dmag.com/different-3d-printing-business-opportunities-india/
https://3digiprints.com/3D-Help/business-ideas-in-india.php
