Education market becoming sweet spot for 3D printers

As the consumer 3D printer market outside China has reached a rough patch, many companies such as HP have started targeting the industrial market. Recently, however, the education segment has been transforming into a sweet spot for the industry, as the academe welcomes the idea of adopting the technology as a Science, Technology, Engineering and Math (STEM) tool. In Hungary, for example, a program called 3DTECH in Schools is being implemented to ensure that every educational institute in the country is equipped with 3D printers within the next three years.

In China, 3D printers continue to target schools and hobbyists. At the Global Sources Electronics show in April, Shenzhen Weistek Co. Ltd showed off the world's first child-friendly 3D printer, which aims to teach certain concepts to kids. A recent expo in Shanghai also saw a 4,000 yuan printer on display that was snapped up mainly by schools and individuals. Last year, a China-based company called Qingdao Unique Products launched the Magic Cube 3D Printer, another simple, child-friendly device that can be used in classrooms.

One crucial factor that can help speed up the adoption of 3D printers in schools is the price. According to the site 3dprintingindustry.com, China had been lagging behind the US, Japan and Singapore. Yet, China companies have also been able to undercut the competition on price. The local market for these products is likewise growing. China's 3D printing industry revenue doubled to an estimated 7.8 billion yuan ($1.19 billion) in 2015.