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Metal Welding Market size is set to grow by USD 11.5 million from 2024-2028, Emergence of friction stir welding technology in automotive sector to boost the market growth, Technavio

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NEW YORK, June 7, 2024 /PRNewswire/ — The global metal welding market size is estimated to grow by USD 11.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.48% during the forecast period. Emergence of friction stir welding technology in automotive sector is driving market growth, with a trend towards increased adoption of automated products. However, shortage of skilled workforce poses a challenge. Key market players include Air Liquide SA, AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DRAHTWERK ELISENTAL W. Erdmann GmbH, EWM AG, Gedik Welding Inc., Hermann Fliess and Co. GmbH, Hilarius Haarlem Holland BV, Hypertherm Inc., Illinois Tool Works Inc., Matsu Manufacturing Inc., Mayville Engineering Co. Inc., Novametal SA, Otter Tail Corp., Safra Spa, The Lincoln Electric Co., voestalpine AG, Vulcan Steel Ltd., and Welding Alloys Group.

Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Arc, Resistance, Oxyacetylene gas, Solid state, and Others), End-user (Automotive, Construction, Aerospace, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Air Liquide SA, AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DRAHTWERK ELISENTAL W. Erdmann GmbH, EWM AG, Gedik Welding Inc., Hermann Fliess and Co. GmbH, Hilarius Haarlem Holland BV, Hypertherm Inc., Illinois Tool Works Inc., Matsu Manufacturing Inc., Mayville Engineering Co. Inc., Novametal SA, Otter Tail Corp., Safra Spa, The Lincoln Electric Co., voestalpine AG, Vulcan Steel Ltd., and Welding Alloys Group

Key Market Trends Fueling Growth

The metal welding market is experiencing significant growth due to intense competition and the need for product differentiation. Vendors are investing in automated equipment for welding and fabrication to expand their offerings and produce precise parts efficiently.

Automation reduces material costs, enables rapid production, and allows for design flexibility. The demand for fabricated machine parts is driving this trend, leading to increased capital expenditure and higher production efficiency for end-users.

The marketing industry for metal welding is experiencing significant growth. Key players in this sector include manufacturers and suppliers of welding equipment, consumables, and related services. Recent trends indicate an increase in demand for automated and robotic welding systems due to their efficiency and precision.

Additionally, the use of advanced materials like composites and alloys is gaining popularity in various industries such as automotive, construction, and energy. Furthermore, the adoption of digital technologies like IoT and AI in welding processes is transforming the industry, enabling real-time monitoring and predictive maintenance. Overall, the metal welding market is expected to continue its upward trend in the coming years.

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global metal welding market faces challenges due to a shortage of skilled workers in developed markets like the US, Europe, and Australia. Complex machinery operation requires technical knowledge, and unskilled workers can lead to failed welds, increased labor costs, and longer production cycles.New welding techniques and equipment demand continuous skill updates, which can be costly and time-consuming. This shortage affects market growth, as companies may need to invest in training or outsource work, limiting their ability to take on larger projects.The robotics and automation market, particularly in welding, is experiencing significant growth. With advances in technology, processes like laser and robotic welding have become more common. However, challenges persist. Costs for implementing these technologies can be high. Additionally, the need for skilled labor to operate and maintain these systems remains a concern.Furthermore, the use of new materials like oxides and alloys in welding processes adds complexity. Procurement of these materials can be difficult and expensive. Electronics and sensors are also essential components in modern welding systems, adding to the overall cost. Despite these challenges, the market for welding automation continues to expand, driven by the need for increased efficiency and productivity.

For more insights on driver and challenges – Download a Sample Report

Segment Overview

Type1.1 Arc1.2 Resistance1.3 Oxyacetylene gas1.4 Solid state1.5 OthersEnd-user2.1 Automotive2.2 Construction2.3 Aerospace2.4 OthersGeography3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Arc- The arc metal welding market experiences growth due to the widespread use of this joining technique across various industries. Arc welding processes like Flux Core Arc Welding (FCAW), Gas Metal Arc Welding (GMAW), Gas Tungsten Arc Welding (GTAW), Shielded Metal Arc Welding (SMAW), and Submerged Arc Welding (SAW) are commonly employed. However, GMAW presents challenges when welding aluminum alloys, which have low melting points and high thermal conductivity, leading to potential burn-through.

Using aluminum welding wires in GMAW also poses issues due to their softness and low column strength, which can cause tangling. To mitigate these challenges, appropriate welding equipment selection is crucial. Despite these complexities, arc metal welding remains a vital process in automotive, aerospace, oil and gas, power, and construction sectors.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Metal Welding Market encompasses the welding industry and the fabrication industry, serving the heavy engineering industry, construction activities, and manufacturing operations worldwide. In the context of global population growth and industrial manufacturing operations, the market for welding equipment, including robotic welding and robotic laser welding, has gained significant traction. The market’s expansion is driven by the increasing usage of welding technology in various sectors, such as the defense sector for naval ships, patrol vehicles, and submarines, and the global transportation sector.

Market growth is also influenced by factors like electrification and cash liquidity. Despite nationwide lockdowns and the halt of non-essential manufacturing operations, the market is expected to recover, with market players focusing on low revenue-generating regions to expand their footprint. The welding industry’s market growth stage is characterized by continuous innovation, with robotic welding and electrification being key trends.

Market Research Overview

The global Metal Welding Market is experiencing significant growth due to the increasing demand for metal products in various industries such as automotive, construction, and energy. The market is driven by factors including technological advancements, increasing infrastructure development, and rising industrialization. The market offers various welding processes including Arc Welding, Gas Tungsten Arc Welding (GTAW), and Flux-Cored Arc Welding (FCAW).

These processes are used to join different metals such as steel, aluminum, and stainless steel. The market is also witnessing the emergence of new technologies like Laser Beam Welding and Electron Beam Welding, which offer higher precision and productivity. The market is expected to continue its growth trajectory in the coming years due to the increasing demand for metal products and the ongoing industrialization trend.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeArcResistanceOxyacetylene GasSolid StateOthersEnd-userAutomotiveConstructionAerospaceOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

AI-Powered Earbuds Transforming North American Smart Offices: Exclusive Insights from viaim CPO at CES 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — At CES 2025 in Las Vegas, Liu Da, Chief Product Officer (CPO) of viaim, an AI technology hardware company deeply rooted in the smart office sector, gave an exclusive interview, sharing valuable insights into viaim’s exploration of the field of AI-powered earbuds, its innovative product concepts, and how the technology addresses common workplace challenges in North America. Mr. Liu also delved into the market potential of AI-powered earbuds and viaim’s strategic blueprint for shaping the future of smart offices, especially in the North American market.

North American business professionals have widely embraced remote and hybrid work models. The rise of multilingual communication has fostered a highly digitalized consumer landscape with diverse user needs, particularly for smart office solutions. In response, viaim is dedicated to developing practical AI solutions that alleviate repetitive and tiring office tasks. By addressing the evolving demands of North American professionals with its AI-driven innovations, viaim is advancing its global mission to transform work efficiency and productivity.

Unique advantages of AI-powered smart earbuds

In the interview, Mr. Liu said earbuds, being close to the user’s senses, are seamlessly integrated into daily life and serve as an ideal platform for AI technology. Unlike traditional office hardware, AI-powered earbuds are portable and versatile, fitting various scenarios such as remote meetings, commuting, and entertainment. He highlighted that viaim’s AI-powered smart office solutions position the Company to bridge the gap between people and devices, transforming earbuds from simple audio tools into smart office partners. 

viaim’s technology and design challenges during the R&D  phase

Mr. Liu detailed the challenges the Company faced during the R&D phase, including integrating AI computing power, storage, and sensors into earbuds with limited space while maintaining portability and battery life. He also highlighted the difficulty of balancing human auditory sensitivity with machine signal processing to ensure a natural user experience. To tackle these challenges, viaim employed multi-terminal collaboration, integrating earbuds, apps, and cloud services to ensure seamless voice processing and secure data management tailored to the needs of North American professionals.

Market potential, insights, and positioning in North America

A report from Upwork, the world’s largest work marketplace, projects 36.2 million Americans will work remotely in 2025, marking an 87% increase from pre-pandemic levels. AI-powered earbuds, with capabilities including meeting recording and follow-up task management, cater to the digitalized and multilingual North American market. As remote and hybrid work rises, AI earbuds are becoming vital for workplace efficiency and language learning. viaim stands out with a competitive strategy focused on technological innovation and market segmentation, offering unique value beyond traditional earbud brands.

Future strategy and product vision

Mr. Liu believes technology’s true value lies in solving real-world problems. “When users actively engage with our AI solutions, it demonstrates their true value,” he stated. AI earbuds remain the Company’s core focus, empowering professionals to shift their attention from routine tasks to meaningful creative endeavors. Looking ahead, viaim plans to expand its product lineup to include smart glasses and office accessories, creating a comprehensive AI office ecosystem. The Company aims to rapidly iterate based on user feedback, expanding AI earbuds from niche to mass markets and advancing industry development.

Media Contact: 

Qian Wang
+86-15321782927
wangqian@vision-intelligence.tech

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Steller Unveils Group Trip Planning

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KIRKLAND, Wash., Jan. 10, 2025 /PRNewswire/ — Steller, a video-based, travel planning platform that allows travelers to discover, connect and book based on experiences shared by creators, introduced its most requested feature yet: group trip collaboration. The feature transforms how travelers plan group trips by consolidating everything—discovery, communication, organized planning, and booking—into one platform. 

Steller launches group trip planning, streamlining discovery, communication, and booking into one collaborative platform.

Traditional Trip planning involves multiple surfaces and when traveling with others, multiple communication channels. It is difficult to stay organized when communication is spread across text messages, social DMs, email, etc.  

Steller’s new collaboration feature eliminates communication chaos and streamlines trip planning by offering a central group hub for organizing every piece of the process. Travelers can invite others to join their Trip itinerary, keeping communication, discovery, and booking in one place. With Steller’s library of more than 30 million pieces of user generated travel content, groups can share videos of activities, dining spots, attractions, add notes, and co-create custom itineraries. Flexible itinerary views—list, map, and video—give everyone a complete picture of the plan to share and edit with their travel companions.

“Collaborative trip planning has been a top request from our community.  When we launched Trips by Steller   last January, we knew it would resonate, but the response has far exceeded expectations. In a short time, over 50,000 users have planned and booked trips by incorporating their favorite user-generated travel videos into personalized itineraries. For our destination clients,  Trips by Steller has seamlessly connected travel influencer marketing to planning and commerce. Steller clients see more than 18% of viewers who engage with their influencer campaigns planning trips to their destination—a result that sets a high bar in the travel industry. Adding collaboration to the mix amplifies that impact, inspiring more people to explore, engage and transact together!” said Pete Bryant, CEO of Steller. 

How It Works  

Whether it’s a getaway for two or a large group adventure, collaboration makes organizing travel plans easy with an all-in-one solution. 

Build Your Itinerary Together: Group members can contribute by adding things to do, activities, and notes.Stay Organized: Add notes and structure by day, activity, or group to eliminate confusion.Flexible Views: View your itinerary as a detailed list, on a map, or through video for a fully customizable planning experience.Real-Time Updates: Keep track of changes, additions, and edits made by group members.On-the-Go Access: Everyone can access the itinerary on their phone.

Steller continues to lead the charge in innovative travel planning, ensuring that its platform evolves based on user feedback. Collaborative trip planning is the latest step in its mission to evolve travel. 

About Steller 

Steller, headquartered in Kirkland, Wash., is the market leading travel planning platform that guides travelers from inspiration to planning and booking through authentic experiences of their favorite creators. Steller’s patent pending platform distributes millions of pieces of bespoke, worldwide video content that can be found and booked on the Steller app. Learn more at www.steller.co  and  stellerforbusiness.com

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RAAPID Raises Series A from M12, Microsoft’s Venture Fund to Scale Next-Generation Healthcare Risk Adjustment

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Company reports 300% revenue growth in 2024 and advances partnerships with nation’s leading health systems

LOUISVILLE, Ky., Jan. 10, 2025 /PRNewswire/ — RAAPID, the industry-leading healthcare AI company, announced today a significant Series A investment from M12, Microsoft’s venture fund. This strategic funding positions RAAPID to expand its groundbreaking Neuro-symbolic AI platform that is reshaping healthcare risk adjustment.

RAAPID’s explosive growth – marked by a 300% revenue increase in 2024 – demonstrates the market’s strong validation of its advanced technology platform. The company has quickly established itself as a trusted partner for major health plans and provider., At the core of RAAPID’s success is its pioneering VisionAI technology, which tackles one of healthcare’s most pressing challenges: making sense of unstructured medical data. While over 70% of medical records exist as unstructured data when shared outside EHRs, RAAPID’s AI engine transforms this complex information into actionable insights, enabling unprecedented accuracy in risk capture and care gap identification.

“Our vision extends beyond traditional risk adjustment,” states Chetan Parikh, Founder and CEO of RAAPID. “We’re creating a future where AI augments healthcare professionals’ capabilities, leading to better patient outcomes and more accurate appropriate reimbursements. This investment from M12 accelerates our mission to transform healthcare through advanced AI.”

RAAPID’s purpose-built Risk Adjustment platform has achieved remarkable results:

Slashing chart review time by 60-80%Surpassing industry standards with 95%+ coding accuracyGenerating additional appropriate and compliant revenue per memberImproving risk capture accuracy by 25%

The HITRUST-certified platform stands out for its unique Neuro-symbolic AI approach, combining neural networks with an extensive medical knowledge graph containing over 4 million clinical entities and 50 million relationships. This sophisticated technology enables both retrospective analysis and prospective risk adjustment, helping organizations identify and address care gaps to positively impact patient health.

“Healthcare organizations are increasingly seeking innovative solutions to manage risk and improve care delivery in value-based arrangements,” said Todd Graham, Managing Partner at M12. “RAAPID’s AI-driven risk adjustment platform aligns perfectly with our investment strategy. Through M12, we are committed to providing our portfolio companies with access to Microsoft’s resources and expertise to drive significant impact in the healthcare sector.

Led by a team with over 25 years of healthcare technology expertise, RAAPID has collaborated with experts from the top 4 tech giants in developing its clinical AI solutions. RAAPID continues to push the safe boundaries of what’s possible in healthcare AI. The company’s selection as an M12 portfolio company validates its position as a leader in healthcare technology innovation.

As value-based care becomes increasingly important, RAAPID’s AI-powered solutions are becoming essential tools for healthcare organizations striving to improve timeliness and quality of care all patients expect. With this new funding, RAAPID is poised to further advance its technology and expand its positive impact on patients, providers and payers.

About RAAPID
RAAPID develops AI-powered solutions for healthcare payers, providers, and supporting organizations. The company’s cloud-based risk adjustment platform uses neuro-symbolic AI to identify chronic conditions, determine HCC codes, calculate risk scores, and analyze population health trends. RAAPID serves organizations that participate in Medicare Advantage, ACA, Medicare ACO, and Medicaid programs.

For more information about RAAPID’s AI-powered risk adjustment solutions, visit www.raapidinc.com

CONTACT:
Mayur Vyas
(502) 699-3044
388583@email4pr.com

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