HP Innovation Journal Issue 11: Winter 2018 | Page 18

sector—nearly half of which sits in
Asia-Pacific. If successful, 3D printing
could surge to an $18 billion market
within the next five years. 3
ur world is changing faster than
ever—and that is especially true in
Asia-Pacific. The region is already home
to three-fifths of the global population. 1
It represents nearly two-thirds of this
year’s global economic growth, 2 and has
the greatest potential for future
economic development. It is also set to
experience the fastest growth in
affluent households and the largest
increases in young members of
the workforce.
While the trajectory of this growth is
clear, delivering it will not be simple.
Asia-Pacific’s long-term growth
prospects will be affected by several
regional and global trends: aging
populations in developed economies
will slow productivity, while large, rising
numbers of middle-class consumers
will put further constraints on
resources and an ongoing digital
transformation will impact the future
of work and labor.
These changes have put us at an
inflection point. The ways in which we
make and sell products, interact with
technology, and use resources are no
longer adequate. We will have to
innovate to meet the demands of the
region and deliver growth. 3D printing
is one of the most promising
technologies to do just that.
3D printing is currently a relatively
small market, but it has the potential to
disrupt the $12 trillion manufacturing
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HP Innovation Journal Issue 11
To date, the cost of 3D materials—and
the required innovation to drive down
these costs—has prevented 3D printing
from transforming how the world
designs and manufacturers. But with
the latest technological advancements
from HP, the time is right. And nowhere
is that truer than in Asia-Pacific.
THE ASIA-PACIFIC
OPPORTUNITY
By the end of 2018, Asia’s economy is
expected to grow by approximately
5.5%. 4 That figure already represents
nearly two-thirds of global growth this
year. But looking ahead several decades,
the region’s potential could be even
greater: by 2050, Asia’s per capita
income could rise six-fold, making an
additional three billion Asians affluent,
and doubling its share of gross domestic
product by 52%, gaining the dominant
economic position globally. 5
THE FOURTH INDUSTRIAL
REVOLUTION
The Fourth Industrial Revolution has
begun. Recent advances in AI,
immersive computing, robotics, and
connected factories are enabling this
change—as is 3D printing. 3D printing
can be considered the digital furnace of
today’s industrial revolution, driving
the digitalization of manufacturing.
Recent 3D-print solutions, such as HP’s
Multi Jet Fusion technology, generate
superior product parts 10 times faster
and at half the cost. As a result, the
technology has the potential to greatly
improve manufacturing processes and
reinvent supply chains. In short, it
could transform the $12 trillion global
manufacturing market and unlock
entirely new consumer and enterprise
product categories.
Unsurprisingly, China will drive much
of this opportunity. There are already
204 million middle-class Chinese,
representing an estimated $28.3 trillion
in wealth. They are gravitating to urban
centers, with more than 800 million
people now living across 400 cities. Of
these people, more than 400 million are
digital- and mobile-savvy millennials
and Gen-Zers seeking lifestyle upgrades.
The economic and demographic growth
the region is set to experience will
create significant opportunities: there
will be more consumption, more
spending, and greater demand for
infrastructure than ever before. What is
more important, this opportunity will
converge with another: the Fourth
Industrial Revolution.
The total value of this kind of digital
transformation across all industries
could reach $100 trillion over the next
10 years. 6 In addition to this
unprecedented economic potential, 3D
printing and other technological
advancements will improve
productivity, ultimately leading to