By Laura Ross
For Thomas Insights
Photo: From wearables and electric vehicles (EVs) to digital twins and bioengineering, eight industries are expected to boom in the next 12 months. Image Credit: vectorfusionart / Shutterstock.com
1. Additive Manufacturing (3D Printing)
The use of additive manufacturing in industrial businesses continues to grow, enabling rapid prototyping, supporting flexible and fast-paced design and production, and reducing overhead costs. In the next 12 months, the technology will continue to mature, transforming factory floors across the United States.
In turn, organizations will integrate 3D printers into their production environments, leverage the technology to drive sustainable manufacturing practices, and invest in new and hybrid 3D printing materials.
The additive manufacturing market size was valued at around $11 million in 2021 and is projected to reach over $34 million by 2028.
2. Virtual Reality (VR)
Virtual reality (VR) market growth has fallen behind many other digital technologies like smartphones and tablets. But could 2023 be its year to shine? According to Deloitte, it’s likely.
In its Technology, Media & Telecommunications (TMT) 2023 Predictions report, the company predicts that the VR market will grow by 50% compared to 2022, reaching a value of $7 billion. A whopping 90% of this growth will come from VR helmet sales with 14 million expected to be sold over the next 12 months.
The report states that the future of VR depends on the development of truly immersive applications, be that consumer games, remote travel and education, or workplace training and simulations. The latter is particularly useful in an industrial setting, enabling workers to learn in a realistic but safe environment.
