As stated by a report by P&S Intelligence, the global slicing software market is projected to generate a value of $2,202.5 million by 2030, demonstrating a 16.7% CAGR during the forecast period (2020-2030). The increasing requirement for integrated slicing software, expansion of the 3D printing industry, emerging applications of 3D printing in a number of industries, such as healthcare, and rising requirement for cloud-based slicing software are the major factors that are leading to the growth of the market.
When industry is taken into consideration, the slicing software market was dominated by the aerospace & defense industry in 2019. The surging adoption of the 3D printing technology, rather conventional manufacturing solutions, for creating lighter and stronger parts is majorly driving the demand for slicing software in the industry. Some of the major application of 3D printing in the vertical are making of air ducts, engine components, bezels, cabin accessories, and lights.
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Geographically, the Asia-Pacific region is expected to emerge as the fastest growing slicing software market in the years to come, owing to the swift adoption of novel technologies, expanding 3D printing market, need for high-volume parts production in manufacturing plants, rising support from governments of various countries, and growing demand for rapid and functional prototyping. For example, the anticipated growth of the 3D printing market in China in the coming years is expected to drive the regional domain as well.
The players in the slicing software market are engaging in mergers and acquisitions for strengthening their presence and expanding the application of their offerings. For example, a subsidiary of German-based chemical company BASF SE, BASF New Business GmbH, signed an agreement for acquiring a Europe-based 3D printing company, Sculpteo, in November 2019. With this move, the former company is aiming to driving its growth by offering their partners and customers with additional sales channels.
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