Selective Laser Sintering Market 2024-2033: Trends, Analysis & Growth Forecast

The selective laser sintering market size has grown exponentially in recent years. It will grow from $2.37 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The growth in the historic period can be attributed to globalization of retail chains, focus on loss prevention, labor cost reduction, efficiency and speed, enhanced customer experience, reduced checkout errors..

The selective laser sintering market size is expected to see exponential growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to hybrid checkout solutions, omnichannel retailing, expansion in emerging markets, environmental sustainability, customization for retailer needs.. Major trends in the forecast period include remote assistance and monitoring, integration with mobile technologies, contactless and cashless transactions, data analytics for customer insights, integration with loyalty programs..

Market Overview -
Selective laser sintering (SLS) refer to the additive manufacturing (AM) process to fuse tiny particles of polymer powder into a solid object based on a three-dimensional (3D) model. It is used to creates sturdy plastic pieces for low-volume production and prototypes.

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Consumer Electronics Surge Fuels Selective Laser Sintering Market Expansion
The rising demand for consumer electronics is expected to propel the growth of the selective laser sintering market going forward. Consumer electronics are electronic devices such as smartphones, tablets, laptops, TVs, gaming consoles, and wearable devices that are bought for personal rather than commercial use. Selective laser sintering is used in the manufacturing process of consumer electronics products, including smartphones, laptops, and wearables. As a result, the rising demand for consumer electronics increases the demand for the selective laser sintering market. For instance, in May 2022, according to Canalys, a Singapore-based global technology firm, smartphone shipments in North America totalled 39.0 million units, reflecting a 3.7% year-on-year increase. Furthermore, in Q1 2022, Apple experienced 19% growth, securing a dominant market share of 51%. Samsung, with a 1% growth, held a 27% share of the market, while TCL and Google accounted for 4% and 3% of the market share, respectively. Therefore, rising demand for consumer electronics drives the selective laser sintering market.

Competitive Landscape -
Major companies operating in the selective laser sintering market report are 3D Systems Inc., EOS GmbH Electro Optical Systems, Sinterit sp. z o.o, Farsoon Technologies, Sintratec AG, Renishaw plc, Ricoh Company Ltd., Formlabs Inc., Prodways Group SA, Sharebot S.R.L., Z Rapid Tech, Nexa3d Inc., General Electric Company, Stratasys Ltd., Materialize NV, SLM Solutions Group AG, Concept Laser GmbH, Beijing Long Yuan Automated Fabrication System Co. Ltd., Wuhan Binhu Mechanical & Electrical Co. Ltd., XYZprinting Inc., Ultimaker BV, Sisma S.p.A., Trumpf GmbH + Co. KG, HP Inc., Shining 3D, voxeljet AG, UnionTech, Carbon Inc., Nanoscribe GmbH, Xact Metal Inc.

3D Printing Technologies Transforming The Selective Laser Sintering Market
3D printing technologies are a key trend gaining popularity in the selective laser sintering market. Companies operating in the selective laser sintering market are launching 3D printers with advanced technology to sustain their position in the market. For instance, in November 2022, Wipro 3D an India-based 3D printing of functional components and technology manufacturer launched Wipro 3D F300-2 printer which operates on Fused Filament Fabrication (FFF) technology. This printer enables high-quality 3D printing and advanced technological features such as a magnetic print bed, automatic platform levelling, dual filtration, and a self-cleaning nozzle. This printer has IOT enabled dual nozzle that allows control and monitoring of capabilities over the internet through smartphones, tablets, and computers.

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Key Segments -
The selective laser sintering market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Laser Type: Solid Laser, Gas Laser
3) By Material: Metal, Plastic
4) By Application: Automotive, Aerospace and Defense, Healthcare, Electronics, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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