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Companies are set to invest more in digital manufacturing

(Image credit: Image Credit: Firma V / Shutterstock)

Companies in the UK will invest more heavily in digital manufacturing over the next 12 months, in a bid to drive economic growth.

This is according to HP’s latest Digital Manufacturing Trend Report, which states that more than three in four (77 percent) are looking to invest in solutions like industrial 3D printing.

One of the main reasons businesses are turning to industrial 3D printing is the speed to market, the report states, as well as mass customization of consumer products and production on demand.

Another way digital manufacturing may lead to economic growth is by spurring new collaboration opportunities. More than four in five (82 percent) of the respondents said they planned to work with government entities on digital manufacturing products.

Also, while the majority agree the recyclability of 3D-printed powders and parts is a business imperative, they would also love to see the government do more to motivate businesses to invest in socially and environmentally beneficial digital manufacturing technologies.

“The global manufacturing sector is clearly signalling a desire for greater supply chain resiliency, more manufacturing flexibility, increased speed of innovation, and stronger environmental sustainability,” said George Brasher, MD UK & Ireland at HP.

“And they are seeing industrial 3D printing as a way to not only lower costs and go to market faster, but as a unique competitive advantage that accelerates innovation for customers.”