New design trends and technological breakthroughs from research and development push manufacturers to develop new products quickly, necessitating the development of new tools, dies, and molds. Reducing time for tooling and time to market is critical in the global competitive environment. As a result, additive manufacturing holds the tremendous potential to revolutionize the manufacturing industry. Over the last few decades, AM has grown by double digits. This research aims to identify success factors, economic calculations, hurdles for successful implementation and compare AM vs. conventional manufacturing for tool, die, and mold making.