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Among the key findings in the report were that almost all of respondents say that digital manufacturing technologies can lead to economic growth, with 90% looking to evolve their business models because of the current environment.

Some 92% of respondents say they are investigating new production or supply chain models, with 51% localised production and hybrid models, and 42% distributed supply chain.

The report also looks at the issue of 3D print and additive manufacturing, and where this market is likely to head in 2021 and beyond.

Of those who responded, 79% say additive manufacturing or 3D printing helps their company become more agile, with 79% using this is a viable alternative to traditional manufacturing, and 75% as a backup to traditional manufacturing.

The global manufacturing sector is clearly signalling a desire for greater supply chain resiliency, more manufacturing flexibility, increased speed of innovation, and stronger environmental sustainability”

In addition, 86% expect an investment increase in additive manufacturing or 3D printing, while 93% want to explore the innovation that mass customisation provides.

George Brasher, managing director for the UK and Ireland at HP, comments: “The global manufacturing sector is clearly signalling a desire for greater supply chain resiliency, more manufacturing flexibility, increased speed of innovation, and stronger environmental sustainability.

“And they are seeing industrial 3D printing as a way to not only lower costs and go to market faster, but as a unique competitive advantage that accelerates innovation for customers.”

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HP forecasts significant digital investment

Almost three quarters of decision-makers at UK businesses expect to invest in some form of digital manufacturing technologies within the next year, according to a new report from HP.