The long-standing promise of 3D printing to simplify and enhance our lives is now evolving from concept to reality. From dental aligners to jet engine fuel nozzles and houses to sports shoes, 3D printing is now used in diverse applications, impacting every facet of our daily experiences.
Looking forward, the flexibility of 3D printing will continue to transform manufacturing, enabling fast responses to customer demands. The global industrial 3D printing market is projected to reach US$107.7 billion by 2031. Beyond industry transformations, 3D printing empowers individuals, allowing consumers and hobbyists to unleash their creativity and make the once-impossible possible.
Thanks to ongoing innovations, exciting changes are happening in the world of 3D printing. Looking ahead, Elegoo, a leader in 3D printing, is making waves with its innovative approach and rapid growth. In just eight years, Elegoo has evolved from a startup to a major player, uncovering three big trends set to shape the future of technology.
Let’s take a closer look at where the industry is heading.
Innovation Fuels Industry Advancements
Innovation stands at the forefront of the 3D printing industry’s rapid evolution. The sector’s growth is evident in the success stories of emerging startups and entrepreneurs, highlighting the industry’s dedication to technological advancement.
Elegoo has soared to success by embracing innovation. In the realm of 3D printing, the quest for sustainability and eco-friendliness is reshaping the industry. Therefore, Elegoo introduced the innovative Plant-Based Resin, predominantly derived from soybean, which ensures BPA-free properties, minimal odor, and almost non-existent pungent fumes. Additionally, Elegoo introduced PLA filaments, a testament to our commitment to environmental sustainability, as PLA is a biodegradable material.
With a focus on automation and intelligence, the company creates products that offer convenience, joy, and personalized experiences. Its dedication to customers extends to breaking barriers and fostering a shared exploration of the creative universe. This approach has resulted in the company surpassing $100 million in revenue in 2021 and establishing a strong presence as a leading consumer choice in 3D printing on Amazon. Notably, Elegoo’s Saturn series of LCD 3D printers clinched the Gold Winner title at the Globee® 2023 Disruptor Awards, a testament to its innovative prowess in 3D printing and augmented reality.
Going Global and Growing Smart
Elegoo’s swift rise offers invaluable lessons for startups and entrepreneurs aiming for success on the global stage. The company has strategically expanded into Europe, America, and Japan, showcasing its innovations at major events like Formnext 2023 in Frankfurt, Germany. This year, Elegoo will also participate in the 3D Printing & Additive Manufacturing events, including RAPID+TCT 2024 in Los Angeles and the Formnext 2024 in Germany.
By leveraging online platforms like Shopify, Amazon, eBay, and Alibaba, Elegoo has reached a remarkable 70+ countries and regions. In addition to its successful presence in the consumer market, Elegoo has now expanded its B2B business worldwide, catering to a diverse range of businesses and industries.
Prioritizing clear communication and post-sales service, Elegoo plans to collaborate with local dealers in various countries starting in 2024, strengthening its international presence. The road ahead includes more exhibitions, customized showcases for specific markets, and a strong commitment to customer satisfaction.
The Rise of Crowdsourced Success
Crowdsourcing is emerging as a powerful force shaping the trajectory of startups within the 3D printing sector. Elegoo’s success through Kickstarter campaigns highlights the growing significance of engaging customers directly in the product development process. For startups and entrepreneurs, crowdfunding is more than a fundraising tool; it’s a means to build a dedicated community.
The launch of groundbreaking products like Jupiter 6K, Phecha, and OrangeStorm Giga not only raised substantial funds but also built a dedicated community of backers.
Jupiter 6K, launched in August 2021 and awarded “Best of Kickstarter,” saw 5,100 backers pledging $4.7 million.
Phecha, launched in April 2023, garnered 5,500 backers and pledges of $2.8 million.
Notably, OrangeStorm Giga, launched on Nov. 4, 2023, raised $2.7 million in just one week, with 2,100 backers pledging $3.8 million as of Nov. 27.
This trend signifies a shift toward collaborative innovation, where startups harness the collective power of their audience to drive industry advancements.
Final Thoughts
Elegoo’s journey exemplifies a dynamic fusion of innovation, global market expansion, and successful crowdsourcing, heralding trends shaping the industry. As the company continues to push technological boundaries, its dedication to developing consumer-level 3D printers, as well as a bold step into the realm of industrial-level machines with OrangeStorm Giga, highlights an unwavering focus on delivering innovative and high-quality solutions. Elegoo’s narrative reflects its accomplishments and is a testament to its ongoing commitment to driving the industry forward through continuous technological progress. Visit Elegoo to learn more about 3D printing innovations.
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