Global Economy (J23) Final Essay Assignment (Spring 2021) Prof. Joe Foudy The Economic Impact of Aging. How will demographic trends impact business from a business/ corporate perspective over the next...

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The Economic Impact of 3d Printing
We were born, and as people, we grow and develop naturally. This is our hereditary composition. The technologies we use changes as culture. The 3D printing technology is one technology that advances rapidly. By changing each industry, which has adopted it and starting to use it, 3D printing technology has already demonstrated its muscle and skills. Three dimensional printers have now transformed our way of life, have advanced many manufacturing processes for businesses, and continue to play an important role in the shaping of the future.
What is unbelievable about 3D printing technology is the progress and cu
ent influence that inevitably cross our lives across industries. The next industrial revolution is under way, with 3D printers at the origin of this kick-off. 3D printing either isn't everything hype; it won't come through us soon. The technology is here to stay, so let's look at the type of consequences it could have on the global economy, both consumers and businesses.
According to AT Kearney’s “3D Printing and the Future of the US Economy” report, it tells that in next 30 years 3DP could impact up to 42 percent of demand in five industries, with overall economic benefit of 3DP based on shoring from $600 to $900 billion.
The Impact of 3D printing on the Global Economy:
The 3D printing industry is set to transform the world economy to a good extent. It won't be the same things; the advancement of 3D printing will cause huge distu
ances. Products are becoming easier to produce, products are becoming more customer-orientated, and businesses are increasingly using the technology to develop products.
Alone in the US, 3D printing technology has seen exponential success, and its growth rate in Europe and China isn't far behind. China is now the world's largest producer nation. If manufacturing is localised using 3D printing systems, China's domestic output advantage would be provided. Before China accepts technology itself, we will not understand the true consequences of how this affects China's economics.
One thing that all of us can agree on is that 3D printing is never stupid. It is certainly a tool that causes a curiosity and stimulates the mind, with modern 3D printers and new materials coming on the market.
Environmental impacts of 3D printing
Traditional output has been negative for those of you who do not already know. Through using 3D printing in the field of industry, businesses and manufactures figure that they can substantially reduce their ca
on footprint. That is of great benefit to businesses. Below we can look at some of the major advantages of using a 3D printer.
1. Reasonable parts of the product
The challenge today is that if we have a working item and component fails in our home, you can't use it again until a missing component or the whole product has been replaced with another one. It is a world when most homes have a 3D printer that the laptop makers are encouraging. In any case, homeowners should import CAD files of the component portion from the websites of the retailer and print what is needed rather than order them.
2. On Demand Products
Cu
ently, the dilemma is when firms manufacture their goods, both money loss and time for the manufacturers. If the items are not sold or the product line stops, all the supplies go to the dump. The simple use of 3D printing in the manufacturing sector will eliminate this unnecessary waste and only generate goods that are required on request for customers. It was ground
eaking to save money and time in this field alone for production industries.
3. Massive transport cost savings
If, for example, a product is produced in South America and it is required in the UK, so it is a reasonable distance to the destination of a product. Indeed, once the commodity reaches its destination, it will be able to fly by ship or air through many continents. Where 3D printers are incorporated into a company, an object may be laser scanned and used for local recreation using the raw materials.
For manufacturers...