Innovation: The 3D printer
Innovation has always been rewarded within the business world. From monumental breakthroughs in technology such as the invention of the internet, to simple, small steps forward in innovating such as a mere tweak in a manufacturing system to cut costs. However the next big thing in technology that may make its way into everyday life in the near future is possibly the 3-D printer.
Essentially it is a machine that can physically “print” an object such as a violin, or a skull with computer input. Currently the market is relatively small but rapidly growing as in 2012 the market for this type of product was worth $2.2 billion where it grew a staggering 29% from 2011 therefore it is very possible that the market for these types of machines will develop and become very popular in the foreseeable future. Also the big name that markets these machines is “RedEye” a company based in Eden Prairie, Minnesota. It is highly possible that this particular company may experience considerable growth in the years to come and thus shares in the company can be seen to grow exponentially as the popularity and development of this type of machine grows. It may be rather expensive to produce this type of product en masse currently, but after the product is commercialized and made to be more efficient, costs may drop and practicality of using 3-D printers may be experienced.
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