“Any time you give the means of production to everybody, it changes the world.” Chris Anderson, CEO of 3D Robotics
So it goes with the Maker Economy – otherwise referred to as the Maker Movement. According to Industry Analyst Jeremiah Owyang, the Maker Movement puts power in the hands of people to fund, design, prototype, produce, manufacture, distribute, market, and sell their own goods. According to youth market research firm Ypulse, 69% of millennials wish they could create a new product, and 81% would be interested in helping a company design one. This shift in production also shifts power from large, capital intensive enterprises to individual prosumers. As the focus on a next economy increases, so does the likelihood that it is driven by networks of prosumers versus large corporations.
This movement is not a future movement. According to the Infographic below, 135 million makers in America are already growing local economies and creating new jobs – contributing 18 million small businesses in the U.S. and accounting for two out of every three new jobs. When viewed through the lens of 3D Printing Forecasts, the future looks bright as well. One such forecast has the 3D Printing Industry becoming a $16 billion global industry within the next five years, with a 45.7 CAGR. It is also reviving the hardware sector, as VCs pumped $848 million into hardware start-ups in 2013 – nearly twice the prior record of $442 million set in 2012.