- Software
applications among key 3D printing growth trends for 2020
- SGLB’s
PrintRite3D(R) software provides manufacturers with quality control
solutions that can be remotely deployed throughout entire supply chain to
any location worldwide
- Software
solutions for 3D printing estimated at $1.4 billion, expected to exceed
$3.9 billion by 2023
Despite the current global economic slowdown, the outlook
for 3D printing remains optimistic, according to a recent article highlighting
areas of growth for 2020 (http://ibn.fm/lLBgY).
Most notably, trends like new product creation, increased aftermarket supply
chains, and the race to create novel software applications that monitor quality
control are predicted to take center stage. Sigma Labs Inc. (NASDAQ: SGLB), a leading provider of
software solutions for the 3D metal printing industry, is positioned to benefit
from growth in application development – a key trend – with its patented
PrintRite3D(R) software that provides manufacturers with a consistent standard
of quality assurance. Sigma Labs’ technology is capable of being remotely
deployed throughout the entire supply chain to any location in the world.
Quality control solutions are vital for the industry to
realize profits and achieve scale due to the high costs of rejected output and
time spent in post-production inspections. With an estimated addressable market
of $1.4 billion that is projected to exceed $3.9 billion by 2023, software
development remains a key growth factor for the 3D metal printing industry.
Accordingly, the venture capital market has shifted focus from hardware to
application development, with over $1 billion raised by startups in 2019 and
continued flows expected for 2020.
Despite the prevailing economic conditions, investment
interest in 3D printing remains high. From its demonstrated flexibility in
production, quickly providing medical supplies onsite to its ability to
eliminate lengthy procurement processes or long shipping wait times, the
technology offers critical solutions to longstanding industry woes (http://ibn.fm/znKmn).
Despite these benefits, quality control still continues to
be a primary impediment to full industrialization due to a set of challenges
that include a lack of product uniformity, profits lost due to rejected output,
and costs associated with time spent in the post-production inspection phase.
The 3D printing process creates objects by applying layers of raw material on
top of each other, making in-process quality control measures absolutely
critical for detecting anomalies in real time to allow for error correction.
With its patented PrintRite3D(R) software, SGLB is an industry leader in the
provision of quality control solutions that give operators the critical
information required to observe the production process and address errors or
anomalies taking place in real time. By enabling remote production from any
location in the world, PrintRite3D(R) empowers operators to identify and fix
machine inconsistencies during the printing process throughout the supply
chain, so production can be optimized and modified in real time to produce
higher quality yields, thus increasing profits.
PrintRite3D(R) runs on most major brands of 3D metal
printers from different manufacturers, allowing for a standardized quality
assurance process that can be deployed across the entire production chain.
Created specifically for highly demanding precision-focused industries,
PrintRite3D(R) is currently being evaluated by tier-1 manufacturers in the
defense, aerospace, oil and gas, transportation and biomedical industries.
Founded by a team of Los Alamos National Labs scientists and
engineers, Sigma Labs, Inc. originally developed and commercially licensed
advanced metallurgical products prior to entering the additive manufacturing
industry. As a leading provider of quality assurance software under the
PrintRite3D(R) brand, SGLB’s stated objective is to become the de facto
provider of quality assurance software to the 3D metal printing industry.
For more information about Sigma Labs, please visit www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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