Slicing Software Market is Predicted to Witness 16.7% CAGR During 2020-2030

October 21 14:22 2020
Slicing Software Market is Predicted to Witness 16.7% CAGR During 2020-2030
The market is growing due to the increasing demand for 3D printing technology in the healthcare industry and rising preference for cloud-based slicing software.

The global slicing software market is predicted to reach a value of $2,202.5 million by 2030, rising from $422.2 million in 2019, progressing at a 16.7% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. The primary factors leading to the growth of the market are the requirement for enhanced manufacturing speed, need for integrated slicing software, and increasing utilization of 3D printing in aerospace, healthcare, jewelry, automotive, and several other industries around the world.

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Based on application, the market is categorized into tooling, prototyping, and functional part manufacturing, out of which, the prototyping application held the major share of the market in 2019. The category is further expected to advance at the fastest pace during the forecast period, owing to the increasing use of 3D printing for swift prototyping. This enables designers to generate a number of design iterations rapidly and change the design of the product according to the requirements of customers.

When industry is taken into consideration, the slicing software market is divided into automotive, aerospace & defense, jewelry, education, healthcare, architecture & construction, and consumer products. Among all these, the healthcare industry is expected to register the highest CAGR during the forecast period, owing to the high adoption of the 3D printing technology for designing medical products and surgical equipment. The increasing inclination towards acquisition of 3D printing material providers by market players is also leading to the growth of the category.

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Geographically, the slicing software market was dominated by North America during the historical period (2014–2019) due to the easy availability of skilled labor, high adoption of technologies, utilization of new materials, and requirement for reliable technology for the production of solid objects. The Asia-Pacific region is projected to exhibit the highest CAGR during the forecast period, because of the increasing government initiatives that are supporting the 3D printing industry and rising focus of countries on the implementation of AM.

Market Size Breakdown by Segment

By Product Type

  • Standalone
  • Integrated

By Deployment

  • On-Premises
  • Cloud

By Application

  • Prototyping
  • Functional Part Manufacturing
  • Tooling

By Technology

  • Stereolithography
  • Fusion Disposition Modelling (FDM)
  • Digital Light Processing (DLP)

By Industry

  • Aerospace & Defense
  • Education
  • Architecture & Construction
  • Automotive
  • Consumer Products
  • Healthcare
  • Jewelry

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