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Market Research


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Market Research

  1. 1. Market Research On Indian 3D Printing and Personalized Gifting Industry By Viraj Mahalunkar Business Manager- Studio FiFi
  2. 2. ABSTRACT The Research shows the scenario of Indian 3D Printing and Personalized Gifting. It is a short study of how India’s 3D Print Industry is growing since 2010 and how much scope does it have in the future for upcoming startups. In this research I will also show how 3D Printing and Personalized Gifting has come together to start a whole new line of business. The Market Research has a detailed view and opinion of people towards 3D Printing as well as Personalized Gifting. For this purpose I have done a small survey to give us some insights. The survey consists of 6 closed end questions and 4 open ended. These Questions reflect the opinion of consumers regarding the demand, price, availability and knowledge about 3D Printing and Personalized Gifting.
  3. 3. Index S.No Title Page No. 1. Introduction 4. 2. Objective of the Research 6. 3. Findings 10. 4. Conclusion 20. 5. Bibliography 23.
  4. 4. Introduction To move forward with this research, first I created a database regarding the competitors that we have in 3D Printing and Personalized Gifting. The Database consists of 30-40 such competitors only from India whose main business aim is to provide 3D Printing Services and Personalized Gifting Services. The Database has various filters such as the competitors name, their strengths, the products and services they offer, their shipping time, their pricing and if they are an effective competitor. In the Database many 3D Printing competitors are very Industry Oriented. That means their aim is to target the corporate people and not just the common people. In the past whenever a company was formed for carrying out business in 3D printing with a view to provide 3D Printing as a source of personalized gifting experience, they slowly in the later stage moved to being more industry oriented as there is more scope for it in the corporate world.
  5. 5. The various Industries where 3D Printing Business can tap into are Medical Industry, Engineering Industry, Automobile Industry, Product Development and Prototyping, Architectural and Construction Industry etc. Let us now deeply look at where we can have opportunities and what points we should have in mind while starting a 3D printing and Personalized Gifting business. The various Industries where 3D Printing Business can tap into are Medical Industry, Engineering Industry, Automobile Industry, Product Development and Prototyping, Architectural and Construction Industry etc. Let us now deeply look at where we can have opportunities and what points we should have in mind while starting a 3D printing and Personalized Gifting business.
  6. 6. Objective of the Research To Find Out: •Who Are Your Competitors? •What Products or Services Do They Sell? •What are Each Competitor’s Strength and Weaknesses? •What Type of Media is used by them To Market their Products? •What Potential Threats Do The Competitors Pose? •What Potential Opportunities They Make Available For You?
  7. 7. After thoroughly going through the various competitors website there are various things that I have found. There are many competitors currently in the world of 3D printing in India. Not all of them are very established but some companies like Global 3D Labs are some with an early start than the others. It was one of the first few who started the 3D Printing scenario in India. The company started with providing 3D Printing Services and then moved on to expanding their business by providing their own 3D Printers. There’s more. 3D Hubs, a website connecting 3D printing services vendors with customers, lists over 20,000 locations in 150 countries. In India, there are approximately 350 listed 3D printing services Mumbai alone has over 100 and Delhi at least 60. A Star Wars light saber, a phone stand, jewellery pieces, and spare parts for your washing machine you can print them all. Clients include businesses, educational institutions, home users and tech lovers.
  8. 8. "India 3D printer market is projected to cross $79 million by 2021," says Rajiv Bajaj general manager of Stratasys India, citing 6Wresearch, and will "continue to gather momentum particularly in fields such as aerospace, automotive, consumer goods, industrial machineries, medical and education sectors." Stratasys, the largest 3D printing company in the world, has been operating through distributors in India since 2005. The company, which acquired Makerbot in 2013, has seen a huge 60% year-on-year growth in demand for its 3D printing services. The Database I created targeted gathering insights from 30-40 3D Printing companies providing 3D Printing, Designing and selling 3D printers.
  9. 9. The various sectors the 3D Printing companies now a day’s provide services to consist of Prototyping – Industrial and Architectural, Accessory making, Medical- Low Cost prosthetic parts, medical models, Bone, Heart valve, medical equipment etc., Twin me, Fashion, Collectibles etc. The major competitors regarding the line of business we want to get into according to my perception are Make whale, Dimension3 and Icustommadeit. They are specifically into personalized 3D Printing and Gifting.
  10. 10. Findings 1.Age Group 18-24 25-34 45-54 55-64 75% of our responses consists of the age group 18-24, 15% from 25-34, 6% from 45- 54 and 4% from the age group 55-64.
  11. 11. 2.Gender Male Female 63.64% respondents are male whereas 36.36% female.
  12. 12. 3.City Pune Dubai Bangalore 30 Respondents are from Pune where as 1 each from Dubai and Bangalore.
  13. 13. 4.Segregation Students Employee Self Employed 30.30% Students, 48.48% Employed and 21.21% Self Employed.
  14. 14. 5.Do They Like Gifting on various occassions to people that matter? Ye s No 90.63% find gifting as a way of appreciation and they would love gifting their loved ones. 9.38% of the people do not find gifting a necessity and do not prefer it.
  15. 15. 6.Occasions Birthdays Anniversary/Weddings Promotion Festivals This Figure Denotes the various occasions for which people think gifting is a good idea. As you can see a lot of people prefer birthdays as the perfect occasion, some find anniversaries and weddings while few find Festivals a good time for gifting their loved ones. Very few chose promotion or achievements.
  16. 16. 7.Gift Preference Customized/Personalized Ready Made DIY (Do it Yourself) 66.67% of the respondents prefer customized or personalized gift as a better option. 30% think readymade items are best. Whereas less than 4% think they will just make it themselves.
  17. 17. 8.Are They Aware of any apps or websites which provide personalized gifting Services? Yes No 90% of the respondents do not know or are not aware of any such website or app. 10% Respondents were aware of websites such as Print venue and Presto gifts.
  18. 18. 9.Price Preference Yes. It should be economical but good quality. No. Emotional value matters more than the price. Depends on who they are gifting it to. This Figure depicts the price preferences of different people. For 35% The Price Does Matter and it should be economical but good quality too. For 26% The Price doesn’t matter but the emotional value does. For 39% it totally depends on whom they are planning to gift something.
  19. 19. 10. Their Idea of a Perfect Customized Gift? These Are Some Of Their Answers: •In its own unique way. For example - Something attached to the gift or packed in such a way that it may bring back an old memory. •Direct delivery •Something that the person really wants with a personalization showing that it has been made especially for him/her •Personalized greeting card Cell/laptop cover Couple t-shirts •A combination of something useful and things they really like. For example a poster of their favorite artist which they can use a laptop skin also? •A diary full of memories •The other person likes... Depends on the occasion as well. •Something that makes that person's life simpler •A well written card •Hand woven •Any useful. •The gift should be something which would be useful for my loved once •Memories •A photo frame •Depends to whom your giving •Something that reflects them and is personalized as per their choices. •Dress, Chocolates n wine bottle •Something made by me.
  20. 20. Conclusion From the research and the survey together, it seems that most of the 3D printing companies are more into industrial services as there is a vast scope compared to providing the service to the general public. Now a day’s creating a engineering part through prototyping can cost you around 45000 INR, but the same part can be created in 1000 INR by 3D printing. So, 3D Printing has a vast scope in the future when it comes to industries. Whereas Personalized Gifting is also another thing people prefer these days. Looking at the findings from the survey, we can observe that over 60% people prefer customized Gifts. According to the database and research, my perception says that we should have a combined business model of 3D printing and customized gifting services. Where 3D printing can be used to provide services to a large variety of industrial consumers and it can also be utilized for the personalized gifting experience we want to create.
  21. 21. Our Competitors in Personalized Gifting: •Print Venue: Print Venue Provides a wide range of custom made products and is currently quite recognized personalized gifting ecommerce platform. It has products ranging from ashtrays to teddy bears. They also provide bulk orders for corporates. They have been in this line of business from 2012 and are a well growing company as it doesn’t have a lot of competition within India. They offer wide range of customizable products where you can choose from the various available designs or even upload one of yours. They even provide home delivery service across India. They are based in Gurgaon with a work force of 51-200. Recently it has also been chosen as “top 100 red herring Asia Startup”. •Icustommadeit: One of the largest online destination for handmade gifts and customized products. It is the only place where you can get everything from clothing and accessories to bikes and furniture custom made to suit your needs and specifications. They even provide 3D Printing services. Established in the year 2013 and headquartered in Pune. It has employee strength of 51-200. Icustommadeit is basically a platform to connect designers or creators of custom products with the buyers. The Strongest point icustommadeit holds in terms of competition is the way they provide you with different filters with which you can create your own product, ranging from a customized shoe to a pair of jeans.
  22. 22. •Printland: India’s largest online printing Megastore for all customized corporate and individual printing and gifting requirements. By integrating automated printing, design studio and cloud technologies, Printland has provided its customers a new online experience by offering on-demand customization, printing and distribution to address the needs of on-the-go youth segment and emerging anytime-everywhere small and medium businesses in India. It provides a way to create phenomenal looking gifts and collateral all-round-the-clock and gets them delivered at multiple locations. Headquartered in Delhi. It has 201-500 employees. Our Competitors in 3D Printing: •Make Whale: A Design studio focused on creating products using 3D printing and modern additive manufacturing technologies. They create premium gifts and customized one-of-a-kind products for general public and corporates. Their mission is to create meaningful gifts that enhance relationships and occasions. They have created some really cool products with good designs. Their major focus seems to be on creative designs which are eye pleasing. You can submit your designs online or you can get your idea designed from them too, next step they will provide you with the cost estimate and after finalization they will provide you with the product at your doorstep within 3 weeks. Founded in 2015 and with strength of around 10 employees.
  23. 23. •Dimension3: Another Studio specializing in 3D printing and creating premium designs. Bibliography From Internet: From Database: 3D Printing Competitors Personalized Gifting Competitors