16.7% CAGR Forecasted in Global Slicing Software Market by 2030: P&S Intelligence
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NEW YORK, March 29, 2021 /PRNewswire/ -- With the increasing competition across industries and need to cut down manufacturing time and costs, the usage of the 3D printing technique is rising. Due to this factor, the global slicing software market is expected to witness a robust CAGR of 16.7% between 2020 and 2030. At this rate, the size of the industry would increase substantially from $422.2 million in 2019 to $2,202.5 million in 2030, according to P&S Intelligence.
The slicing software market growth, in many ways, depends on the adoption of 3D printers, because this software is used to convert 3D drawings, such as those created on computer-aided design (CAD) software, into commands for the 3D printer. The usage of 3D printing is rising in the automotive, aerospace, construction, manufacturing, and healthcare sectors. For instance, BAE Systems plc installed the Stratasys F900 3D printer at its Samlesbury plant in England in July 2020, in order to create prototypes, tools, and other parts for its fighter aircraft.
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The impact of the COVID-19 pandemic on the healthcare sector, as an end user in the slicing software market, has been rather positive. Owing to the growing demand for ventilators, personal protective equipment (PPE) kits, nasal swabs, and other related accessories, the usage of 3D printing for their manufacturing has risen manifold. This has massively pushed up the subscription and licensing rates of slicing software, as it is important in 3D printing.
The integrated bifurcation, on the basis of product type, is set to experience the faster growth in the slicing software market in the years to come. With the increasing demand for machine integration, design optimization, and model analysis, simulation, and repairing capabilities in 3D printing, the demand for integrated slicing software is rising. Thus, software vendors are leveraging the enhancements in the additive manufacturing niche to increase the functionality of slicing software.
In the past, the slicing software market was dominated by the on-premises bifurcation, under the deployment segment. Software installed on the servers or systems of the users themselves is better able to protect the data. In addition, it also helps meet compliance requirements, which is why large companies usually prefer on-premises deployment for software.
Browse report with detailed COVID-19 impact analysis on "Slicing Software Market Research Report: By Product Type (Standalone, Integrated), Deployment (On-Premises, Cloud), Application (Prototyping, Functional Part Manufacturing, Tooling), Technology (Stereolithography, Fusion Disposition Modelling, Digital Light Processing), Industry (Aerospace & Defense, Education, Architecture & Construction, Automotive, Consumer Products, Healthcare, Jewelry) - Global Industry Analysis and Growth Forecast to 2030 " at: https://www.psmarketresearch.com/market-analysis/slicing-software-market-outlook
The slicing software market will witness the highest CAGR, of 17.7%, in the prototyping category, based on application. By using 3D printing for prototyping, test designs can be made, simulated, and changed quickly, before they are put into production. With the rising adoption of 3D printing for prototyping, the demand for slicing software is increasing as well.
Historically, the aerospace & defense domain has been the largest end-use industry in the slicing software market around the world. 3D printing is being widely used in this industry for the production of lighter yet stronger parts, including air ducts, engine compartments, bezels, cabin accessories, and lights.
The slicing software market presently generates the highest revenue from North America. The U.S. is generally among the first countries to adopt a new technology, and it is also home to a highly skilled workforce. In addition, the regional education, healthcare, education, and oil & gas industries are experimenting with new raw materials, for which 3D printing is required, thus pushing up the demand for slicing software.
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During the next decade, the most rapid advance in the slicing software market would be seen in Asia-Pacific (APAC). The government support for the adoption of 3D printing is rising in the region, as is the demand for new materials. Moreover, Japan, China, and India are strongly focusing on additive manufacturing, in order to prevent material wastage and reduce operational costs.
The major companies in the global slicing software market are Materialise N.V., Autodesk Inc., Raise 3D Technologies Inc., Ultimaker B.V., Simplify 3D Inc., Zortrax S.A., Stratasys Ltd., 3DaGoGo Inc., 3D Control Systems Inc., and Craftunique Korlatolt Felelossegu Tarsasag (KFT).
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CAD Software Market - https://www.psmarketresearch.com/market-analysis/cad-software-market
3D CAD Market - https://www.psmarketresearch.com/market-analysis/3d-cad-market
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
SOURCE P&S Intelligence
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