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3D Printing Market to Transcend USD 110.29 Billion Valuation by 2031, Use of Additive Manufacturing to Bolster Market Development | SkyQuest Technology
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3D printing companies should target the development of novel 3D printers and other hardware components that can make 3D printing more affordable. Multiple unique hardware components are required to make 3D printing possible, and this is why companies are targeting the development of these components to maximize their business scope. Making affordable 3D printers and 3D printing filaments will be the prime focus of all 3D printing market players in the future.
The need for advanced software to 3D print complex components is also increasing at a robust pace. 3D printing providers should also focus on the development of new software for 3D printing to maximize their business scope. New companies can specifically target this segment as software development requires less capital compared to hardware development.
Stereolithography has been used in printing for a long time and it is still a preferred technology owing to its simple operating mechanism. The technology creates 3D printed objects by layering different layers of material on top of one another. Photochemical processes are used in stereolithography to enable 3D printing. Using this technology allows 3D printing companies to get a smoother finish and acquire high precision in their products. However, advancements in 3D printing technologies could dethrone stereolithography technology's dominance in the future.
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3D printing companies should focus on development of solutions that help perfect prototyping for different industry verticals. Lower production times and costs as compared to other prototyping techniques and practices. Easy manufacturing of complex parts and components. Owing to these key benefits 3D printing is mostly used for prototyping applications. However, the demand for 3D printing for functional part manufacturing is slated to increase at a notable pace over the coming years.
Growing use of advanced manufacturing practices and advancements in 3D printing technology are setting the tone for market expansion. New companies have a great chance of winning in this market by targeting the software and prototyping segments in the future.
3D Printing Construction Market
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