The Business Process Management (BPM) industry in India is predicted to reach USD 50 billion mark by the year 2020. This spur in growth is expected due to the initiatives by a number of BPM players in various ventures, one of which is 3D printing.
It is expected that the growth of 3D printing business and its outsourcing will benefit the Indian BPM industry in a big way in the long run.
Potential of 3D printing industry in India
3D printing technology is not a new technology for the Indian market. But the demand and scope for this industry has not been very great in the past. It is only now that the business scope related to this technology is being explored.
India has the potential to support a large market for 3D printing technology. It is expected that the 3D printing market in India will take a major leap in the years to come. With the increase in demand this industry will provide an avenue for outsourcing and resultant growth of the BPM industry.
Sectors that can impact the growth of 3D printing market in India
Several sectors in India have adopted the 3D printing technology in a big manner. The major sectors responsible for the growth of the domestic 3D printing industry are aerospace, automotive manufacturing, electronics and education.
Many other sectors and industries in India are yet to realize and explore the potential of the 3D printing technology. Sectors such as automobile, architecture, healthcare, etc. can impact this industry in a big manner as they have the potential to help the growth of this industry. The small scale companies in India are yet to adopt this technology. Widespread awareness about this technology will help the small scale companies to recognize its potential and explore the opportunities related to it.
Challenges for future development of the 3D printing industry in India
The Indian 3D printing industry is still in an evolving state. It requires huge investment for its growth and development. There is a requirement of investment in the BPM industry for training and development of language and soft skills, branding, marketing and educational models related to 3D printing. There should be incentives for small start-ups in this sector that will serve the BPM companies.
The government and industrialists can extend a helping hand in such efforts and help in the development of the 3D printing industry in India.