Slicing Software Market To Generate $2,202.5 Million in 2030

The increasing application of 3D printing in the aerospace, jewelry, healthcare, and automotive sectors, soaring demand for integrated slicing software, and rising need for improved manufacturing speed will propel the slicing software market at a CAGR of 16.7% during the forecast period (2020-2030). The market generated $422.2 million in 2019, and it is expected to reach $2,202.5 million by 2030. Currently, cloud-based slicing software is becoming popular, as it enables easy connection with 3D printers, remote printing and slicing, and easy management of 3D printers from different locations.

The widening application base of 3D printing is leading to the growth of the slicing software market, globally. The application has increased because of the growing requirement for better product manufacturing processes, escalating demand for rapid prototyping, rising need for mass customization, and surging investments by the private and public sectors for the development of the 3D printing technology. Major industries, such as construction, aerospace, manufacturing, and automotive, are utilizing 3D printing for accurate prototyping and enhanced production capacity.

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Moreover, the escalating usage of the 3D printing technology in the healthcare sector is a key factor supporting the market advance. The healthcare industry uses 3D printing to manufacture wearable devices and equipment. Other applications of this technology include image processing, 3D-printed prostheses, and tissue engineering. 3D printing provides several benefits, such as reduced anesthesia requirement, lower risks during complex operative procedures, and minimized risk of infections related to prosthetic devices. Owing to these advantages, the application of slicing software is expected to escalate here in the coming years.

The product type segment of the slicing software market is bifurcated into standalone and integrated. Under this segment, the integrated category accounted for the larger market share in 2019 due to the high demand for analysis, repairing, design optimization, model simulation, and machine integration features. Owing to this factor, companies are working toward expanding the functionality of their software to meet the escalating demand for slicing software among multiple firms and capitalize on the latest developments in the additive manufacturing (AM) technology.

During the historical period (2014-2019), North America generated the highest revenue for the slicing software market. This was due to numerous, factors such as the easy availability of skilled labor, vast adoption of advanced technologies, vast usage of 3D printing in sectors such as education, oil and gas, and healthcare, and high demand for reliable technology for the production of solid objects. Moreover, market players in the region are focusing on expanding their operations to meet the magnifying demand, which would eventually have a positive impact on the market growth.

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Furthermore, the Asia-Pacific (APAC) slicing software market is expected to demonstrate the fastest growth in the forecast period. This growth will be driven by the soaring demand for novel materials and products and increasing support from the government of India, Japan, and China for 3D printing. Moreover, the introduction of slicing software for the inclusion of advanced 3D printing applications in sectors such as healthcare, oil and gas, and education will serve as the key growth driver in the future.

Thus, the increasing use of the 3D printing technology in industries and widespread use of cloud-based slicing software will fuel the market growth in the coming years.

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This release was published on openPR.