Is your business prepared for the new localized manufacturing model that's developing within the Metaverse 3D Virtual World Economy writes J. Dean at SocialContentService.com.
Recently, Meta Platforms Inc. and Microsoft announced partnering to create a 3D Virtual World platform to enable business products and services, gaming and social networking activities. The new 3D virtual reality platform will accelerate global innovation.
Marc Zuckerberg's new focus, Meta begins the phase out of Facebook as a platform, and its many problematic issues. Going forward, all new research and engineering capital by Meta is going into the development of a new 3D Virtual World i.e. Metaverse marketplace, which is being created by engineers in the United Kingdom (EU).
Meta Platforms Inc. (new name), formerly known Facebook, announced plans to create 10,000 high-skilled jobs in the EU in the next five years (Report 2021).
And Meta just announced partnering with Microsoft to develop integration of 3D Virtual Reality workforce teams and mobile social networks (Report 2021).
So, within the next 5-years, virtually 80% of all our work and shopping will be online in 3D VR environments. And the routine tasks about 55% of job functions will be automated with much less human labor necessary in retail, hospitality, administrative, manufacturing and healthcare services within 5 years or so writes J. Dean at SocialContentService.com.
Further, it's very likely that 3D Printing will localize manufacturing to a great extent, giving people the ability to "print" or manufacture products ON-DEMAND. A customer then buys online digital file or blueprint of instructions that enables a 3D Printer or machine to manufacture i.e. print, the product locally at buyers home or business, anywhere worldwide 24/7.
This will put an emphasis on the demand for materials or ingredients, writes J. Dean at SocialContentService.com, used for 3D Print manufacturing such as metal, fiber, plastic, polymers, resins and nitinol, often used in medical applications (More Details).
The buyer or consumer will have to maintain a healthy supply of materials - ingredients used to 3D Print manufacture the items bought in Metaverse ... as traditional manufacturing in a distant factory becomes less common. This type of localized manufacturing will eliminate supply chain issues (Report 2021).
With supply shortages up 638% in the first half of 2021, according to data from Resilinc, it has never been more important for companies to reevaluate how they’re making products. North America experienced the most disruptions during the study period, as companies waited for freight imports from Europe and Asia. As late as early October, many dozens of cargo ships were stuck off the southern coast of California as the port faced delays tied to the coronavirus pandemic that has led to labor shortages. And, in Chicago during the summer, supply chain bottlenecks caused massive backups for imports arriving from the coasts via train. While the supply chain pressures persist, inflation keeps prices rising.
Metal 3D printing as a viable alternative
Over the past two years, additive manufacturing – or the layering of materials on one another to create a product in a machine – has emerged as an attractive alternative due to its unique ability to manufacture “on demand.” These industrial machines are helping to return production back to the United States, so that companies can regain control of their manufacturing processes.
Metal printing in particular has become more ubiquitous and affordable because of some metal 3D printers that allow it to achieve high-volume, repeatable and automated production for 3D-printed parts.
Manufacturing close to home
By manufacturing components closer to home, manufacturing can be distributed in localized facilities that OEMs can choose to use based on proximity to their own production facilities or end users. They can save time, money and return jobs from offshore sites. Whereas outsourcing parts components might have made sense in the past because of the affordability that comes with using cheap offshore labor and freight, it’s now an impediment to a company’s bottom line. A report from Bank of America said COVID-19 has left the global supply chain in “disarray,” noting a supply chain “is only as strong as its weakest link.” The researcher said there remains a “strong case” for “diversification / localization of supply chains.”
With localized metal printing, companies can take advantage of new technologies to compete on time and cost. Many companies are offsetting supply chain damages by passing the costs onto consumers. But, what if a company could negate those problems by detaching from the weak link?
On-demand additive manufacturing can be particularly attractive to OEMs that require metal parts because they can print spare or exotic parts when needed and on demand -- leading to additional cost savings through the elimination or reduction of storage. Hundreds of millions of spare parts of products as diverse as cars to watches and x-ray machines are stuck in storage around the world at any given time, according to data from DHL. Some experts estimate that excess inventory can cost distributors 25% a year. Being able to tap a reliable 3D printing source means that an OEM can nix the excess storage and produce spare or unusual parts only when they’re called up to bat.
In a detailed report, MIT researchers predict that 3D printing has the potential to cut total supply chain costs by 50-90%, with the biggest savings coming from transportation costs as companies shifted production locally. The only hold out, they suggested at the time, was that 3D printing was slower and therefore better suited for low-volume production. However, that hypothesis has shifted in recent years as technologies have improved, ushering in a new era of high-volume 3D printing (MIT Report).
As COVID-19 aftershocks rattle global markets and supply chains, companies are being incentivized to evaluate alternatives to gain competitive advantages. It’s unclear how long the effects of the pandemic will wreak havoc on the industrial world, but 3D printing is serving as a lifeline in a sea of uncertainty.
We estimate 3D Printing localized manufacturing will account for nearly 25% of the worlds total $80 Trillion economy, so that's roughly a $25 Trillion market by 2035 for 3D Print manufacturing writes J. Dean at SocialContenService.com.
About 50% of the primary industries worldwide such as aerospace, automotive, medical devices, consumer retail and healthcare will be enhanced by 3D Print manufacturing.
And the economic effects of Metaverse will also provide benefits towards reducing CO2 and methane pollution, thus create an added value in the fight for climate change solutions.