Artificial Intelligence
3D Printing Market to Reach USD 68.71 Billion by 2028; Growing at a CAGR of 24%
Pune, India, Dec. 08, 2021 (GLOBE NEWSWIRE) — The global 3D printing market size is expected to reach USD 68.71 billion by 2028, exhibiting a stellar CAGR 24.0% during the forecast period. The growth of the market is attributable to increasing demand from the automotive sector and advancement in technology across the globe. Fortune Business Insights publishes this information in its report, titled “3D Printing Market, 2021-2028.” The report further mentions that the market was worth USD 12.57 billion in 2020.
3D printing, also known as additive manufacturing, is a type of process that produces three dimensional solid objects from a digital object. The objects are created by adopting additive processes that involve placing down successive layers of material until the printer creates the object. These layers are perceived as a thin horizontal cross-section of the desired object. The adoption of this type of advanced technology enables the companies to manufacture complex objects using a minimal number of materials than the traditional manufacturing processes.
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What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. The report provides comprehensive research into the regional developments of the market, affecting the market growth. The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. In addition to this, the competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2021 and 2028.
List of Key Players in 3D Printing Market:
- 3D Systems Corporation (Carolina, United States)
- The ExOne Company (Gersthofen, Germany)
- voxeljet AG (Friedberg, Germany)
- Materialise NV (Leuven, Belgium)
- Hoganas Holding AB (Skane, Sweden)
- Optomec, Inc. (New Mexico, United States)
- Made in Space, Inc. (Carolina, United States)
- Envisiontec, Inc. (Gladbeck, Germany)
- Stratasys Ltd. (Minnesota, US)
- HP, Inc. (Carolina, United States)
- General Electric Company (GE Additive) (Massachusetts, United States)
- Autodesk Inc. (Carolina, United States)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 24% |
| 2028 Value Projection | USD 68.71 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 12.57 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 130 |
| Segments covered | Component, Technology, Application, End User and Geography |
| Growth Drivers | Increasing Demand from the Automotive Sector to Promote Growth |
| Heavy Investments in 3D Printing Projects to Drive Market | |
| Utilization of 3D Printing in Medical Devices to Encourage Market Amid Coronavirus | |
| Enhanced Productivity Benefits to Boost Additive Manufacturing Market Growth | |
| Pitfalls & Challenges | High Initial Investments to Restrict the Market Growth |
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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COVID-19 Impact:
The emergence of COVID-19 has brought the world to a standstill. Intermittent factory shutdowns in prominent countries such as China, Southeast Asia, the United Kingdom, Germany, and others have disrupted this industry manufacturing sites as well as supplier operations, culminating in dire straits constraints. By the end of July 2020, industrial output was expected to be restored to normal levels. According to research performed by the ‘Society of Manufacturing Engineers,’ 25% of businesses in the United States plan to modify their supply chains as a result of the epidemic.
Market Segments:
The market has been split into hardware, software, and services based on components. The market has been divided into FDM, SLS, SLA, DMLS/SLM, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM based on technology. Automotive, aerospace and defense, healthcare, architecture and construction, consumer items, education, and others have been categorized based on end-user. The market has been broken down into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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DRIVING FACTORS
Increasing Demand from the Automotive Sector to Promote Growth
Technological advancement has gripped the automotive sector largely by opening up exciting opportunities for manufacturers to innovate their designs. The adoption of 3D printing technology enables them to produce stronger, robust, and safer products. Furthermore, the manufacturers are adopting the technology to expedite manufacturing processes, build reliable prototypes, reduce operational costs, and improve flexibility. Increasing adoption of advanced technology to cater to the evolving demands of the consumers is expected to drive the global 3D printing market growth in the forthcoming years.
REGIONAL INSIGHTS
Increasing Investment by Major Companies in North America to Bolster Growth
Among all regions, the market in North America stood at 4.84 billion in 2020. The region is anticipated to witness exponential growth while holding the highest position in the global 3D printing market share during the forecast period. This is attributable to increasing investment by the companies in developing innovative technologies in the region. Additionally, rapid growth in industries such as automotive, healthcare, and aerospace that adopt 3D type of printing technology will bode well for market growth in the region. The market in Asia-Pacific will witness considerable growth during the projected horizon. This is ascribable to factors such as the growing demand for customized products and the adoption of modern technologies by the manufacturers in the region between 2021 and 2028.
COMPETITIVE LANDSCAPE
Fictiv Collaborates with Jabil to Strengthen Product Portfolio
In July 2020, Fictiv, a digital manufacturing services provider, announced that it is collaborating with Jabil Inc., a manufacturing solutions provider, to streamline its 3D printing prototyping by adopting a unique digital thread. The innovative digital thread is designed to streamline and de-risk the supply chain through transparency, quality, flexibility, and speed. Jean Olivieri, COO of Fictiv said, “With years of manufacturing experience, we are well aware that the move from an idea to the consumption of volume is difficult, although the products have potential. Our collaborations with Jabil support the end-to-end product lifecycle that involves prototyping to production without involving any risk.”
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Key Development:
July 2019: National Aeronautics and Space Administration (NASA) presented a 73.7 million contract to a US-based engineering and manufacturing company, Made In Space. The company will produce 3D-printed spacecraft products of a small spacecraft – Archinaut One
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global 3D Printing Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global 3D Printing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Hardware
- Software
- Services
- By Technology (Value)
- FDM
- SLS
- SLA
- DMLS/SLM
- Polyjet
- Multi Jet Fusion
- DLP
- Binder Jetting
- EBM
- CLIP/CDLP
- SDL
- LOM
- By Application (Value)
- Prototyping
- Production
- Proof of Concept
- Others
- By End User (Value)
- Automotive
- Aerospace and Defense
- Healthcare
- Architecture and Construction
- Consumer Products
- Education
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
- North America 3D Printing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Hardware
- Software
- Services
- By Component (Value)
- Global 3D Printing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
TAIPEI, May 23, 2024 /PRNewswire/ — NEXCOM, a leading supplier of network solutions, published AI and storage performance test results of its NSA 7160R: high-performance Edge server. NSA 7160R is powered by dual Intel® Xeon® Scalable processors for high computing, and enhanced with DDR5 memory, high-bandwidth PCIe Gen5 LAN modules, and high-capacity NVMe storage modules. The test results show the efficiency of the NSA 7160R in processing edge video server workloads and were explained in the accompanying paper.
Edge AI Is the Future
With the rise of smart cities, processing data from cloud to the edge is becoming increasingly critical. Imagine the surge of visual data from ubiquitous security cameras – that information needs real-time analysis right where it’s collected. This is just the tip of the iceberg. As artificial intelligence permeates our lives, certain AI tasks will also need edge computing for efficient, lightning-fast performance. The key is to avoid bottlenecks in the data center by keeping things localized and streamlined.
Your Turnkey Solution Awaits
When it comes to Edge video servers, you need top-notch hardware and software that can handle all the “heavy lifting”. To speed up the total solution bringing up Intel comes in with their Intel® Edge Video Infrastructure (Intel® EVI) reference design. NEXCOM ran a bunch of tests using this design to evaluate its NSA 7160R for essential tasks including storage, image retrieval, and AI features such as inference and feature matching.
After conducting all tests, the results have shown that NSA 7160R meets all performance expectations with outstanding results. For a detailed breakdown of the solution description, test configuration, and results, please refer to the accompanying paper.
Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
About NEXCOM
Founded in 1992 and headquartered in Taipei, Taiwan, NEXCOM integrates its diverse capabilities and operates six global businesses, including the Network and Communication Solutions (NCS) unit. NCS focuses on the latest network technology and helps to build reliable network infrastructure, by delivering professional design and manufacturing services for customers all over the world. NCS’s network application platform is widely adopted in Cyber Security, Load Balancing, 5G uCPE, SD-WAN, SASE, Edge Computing, OT Security, Storage, NVR, and other network applications for businesses of all sizes.
Video – https://www.youtube.com/watch?v=4WlO8fyWnu4
View original content:https://www.prnewswire.co.uk/news-releases/nexcom-delivers-exceptional-performance-in-edge-ai-video-analytics-302153555.html
SHANGHAI, May 23, 2024 /PRNewswire/ — Qiming Venture Partners, a global-leading venture capital firm, is pleased to announce the promotion of Alex Zhou to Managing Partner.
As a Qiming home-grown Managing Partner, Alex first joined the firm in 2014 as a Vice President and has since emerged as one of the most active investors in frontier technologies, especially in the field of artificial intelligence. Alex will join fellow Managing Partners Duane Kuang, Nisa Leung and William Hu in managing Qiming’s operations.
In the past few years, Alex has actively participated in or led investments in many outstanding technology companies across the artificial intelligence, robotics, semiconductors, new energy vehicles, and software sectors. Notable among these include Roborock, UBTech, Unisound, Biren Technology, ROX Motor, VIEWTRIX Technology, Zhipu AI, Mech-Mind Robotics, Axera, HyperStrong, DeepWay, etc.
“I am deeply grateful for the guidance and trust I received from Qiming over the past 10 years.” Alex said. “We are at the forefront of a new wave of technological revolution. This era will undoubtedly bring about many bold innovators who will shape the future. Together with all the Managing Partners and colleagues at Qiming, I am excited and fully committed to seize the opportunities, embrace any potential challenges, explore new possibilities and build a better Qiming.”
Since its inception 18 years ago, Qiming has always committed to upgrading its institutional capabilities and team development in order to stay ahead in an ever-evolving technological and market landscape. The success achieved in the fields of healthcare, mobile internet and frontier technology is a testament to this strategic approach. Alex’s promotion to the most senior position in the firm demonstrates Qiming’s continued confidence in the future of technology innovation.
About Qiming Venture Partners
Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.
Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, among many others.
View original content:https://www.prnewswire.co.uk/news-releases/qiming-venture-partners-promotes-alex-zhou-to-managing-partner-302153306.html
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