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Punching Machine Market to Grow by USD 333.4 Million from 2024-2028, Driven by Global Industrial Automation, AI Transforming Market Trends – Technavio

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NEW YORK, Oct. 22, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Gobal Punching Machine Market size is estimated to grow by USD 333.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.2% during the forecast period. Rising industrial automation globally is driving market growth, with a trend towards increased focus on additive manufacturing. However, availability of used punching machines poses a challenge – Key market players include Amada Co. Ltd., Baruffaldi Plastic Technology Srl, Boschert GmbH and Co. KG, Broachcutter Drilling Machines Pvt. Ltd., Cuumed Catheter Medical Co. Ltd., Dallan SpA, DANOBAT GROUP S. Coop., Durmazlar Makina AS, Hydro Power Tech Engineering, iPan Machineries India Pvt. Ltd., JPW Industries Inc., NITTO KOHKI Co. Ltd., Oemme SpA, Produtech Srl, Schind Machines, TAMA Aps, TRUMPF SE Co. KG, W.W. Grainger Inc., and Wanzke Umformtechnologie GmbH.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Hydraulic punching machine, Mechanical punching machine, and Others), End-user (Automotive industry, Chemical industry, Construction industry, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

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

Key companies profiled

Amada Co. Ltd., Baruffaldi Plastic Technology Srl, Boschert GmbH and Co. KG, Broachcutter Drilling Machines Pvt. Ltd., Cuumed Catheter Medical Co. Ltd., Dallan SpA, DANOBAT GROUP S. Coop., Durmazlar Makina AS, Hydro Power Tech Engineering, iPan Machineries India Pvt. Ltd., JPW Industries Inc., NITTO KOHKI Co. Ltd., Oemme SpA, Produtech Srl, Schind Machines, TAMA Aps, TRUMPF SE Co. KG, W.W. Grainger Inc., and Wanzke Umformtechnologie GmbH

Key Market Trends Fueling Growth

The manufacturing industry has embraced a game-changing technology called 3D printing, also known as additive manufacturing. This process creates three-dimensional objects using digital files, building products layer by layer. Compared to traditional manufacturing techniques, which are subtractive and result in significant material wastage, 3D printing optimizes material usage and minimizes scrap. Although the initial cost of 3D printers is high, continuous use leads to lower incremental unit costs for manufacturers. This technology enables the production of complex geometries, reducing the cost of manufacturing low-cost products. In the context of punching machines, the adoption of 3D printing technology will increase as it allows for customization to specific customer requirements. Prominent vendors in the punching machine market are anticipated to invest in the development of 3D printing technology during the forecast period, driving market growth. 

The Punching Machine Market is thriving in the precision metalworking industry, supplying high-quality and efficient machines for various sectors. Key industries like Aerospace and Electronics rely on punching machines for producing complex parts from lightweight and durable materials. Trends include automation through Robotics, IoT, and Cloud Computing, while Laser Technology and Multi-Axis Machines enhance production capabilities. Emerging industries like Renewable Energy, Medical Devices, and Hydraulic or Pneumatic Punching Machines expand market reach. CNC Controls, such as CNC Punching Machines and Electric Punching Machines, offer automatic and semi-automatic solutions. Business strategies include Fragmentation Dominance and Amalgamation Traits, with CNC, PLC, Manual Systems, and Sensors shaping the future. 

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Market Challenges

The global punching machine market is experiencing a significant challenge due to the increasing adoption of used punching machines, particularly by Small and Medium Enterprises (SMEs). This trend is prevalent in both developed and emerging economies, including North America and Europe, where high labor costs and stringent regulations have led to the closure of numerous manufacturing plants in industries like automotive and component manufacturing. As a result, an ample supply of used punching machines has emerged in these regions. SMEs, being price-sensitive buyers, are eager to acquire these machines at lower costs, enabling them to manage their capital investments effectively. The availability of maintenance services from vendors further enhances the appeal of used punching machines for SMEs with shorter production cycles. However, the limited budgets and low manufacturing purchasing managers index of small businesses hinder their ability to purchase new punching machines, thereby hindering the growth of the global punching machine market during the forecast period.The punching machine market is witnessing significant growth due to the increasing demand for automated manufacturing in various industries. However, this market faces challenges from the adoption of hybrid machines, CNC controls, robotics, sensors, and emerging industries like renewable energy and medical devices. Traditional punching machines like hydraulic, pneumatic, servomechanical, and mechanical, including turret punching machines, face competition from CNC punching machines and electric punching machines. The market is fragmented with dominance from small players and amalgamation traits from large players. The automotive sector’s shift towards lightweight and high-strength materials and the labor shortage are driving the demand for automated, semi-automatic, and manual systems. The FPNV positioning matrix and business strategy are crucial factors for market players. Advanced robots and control systems like CNC and PLC are transforming the industry, making mass manufacturing and industrial punching more efficient.

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Segment Overview 

This punching machine market report extensively covers market segmentation by

Type 1.1 Hydraulic punching machine1.2 Mechanical punching machine1.3 OthersEnd-user 2.1 Automotive industry2.2 Chemical industry2.3 Construction industry2.4 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Hydraulic punching machine- The Punching Machine Market is a significant sector in the manufacturing industry. These machines automate the production process by punching out parts from sheets of metal or other materials. Companies in this market offer various models with different capabilities, catering to diverse industries such as automotive, construction, and electronics. Market growth is driven by increasing demand for automation and efficiency in manufacturing processes. Key players include Bosch Rexroth, Fanuc Corporation, and Schaefer Technologies Group.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Punching Machine Market encompasses a range of precision metalworking machines used for cutting and forming complex parts from sheet metal. Applications span various industries, including aerospace and electronics, where high-quality, efficient machines are essential. Lightweight and durable materials are key trends, driving the demand for advanced punching machines. Automation and the Internet of Things (IoT) are transforming the industry, with FPNV Positioning Matrix and business strategies like Fragmentation Dominance and Amalgamation Traits shaping the competitive landscape. CNC, electric, hydraulic, mechanical, pneumatic, automatic, and semi-automatic punching machines cater to diverse manufacturing needs. Metalworking devices employ punch and die mechanisms for mass manufacturing and industrial punching processes.

Market Research Overview

The Punching Machine Market encompasses a wide range of precision metalworking solutions used in various industries, including Aerospace and Electronics, to produce high-quality, efficient machines capable of handling complex parts. These machines utilize lightweight and durable materials, such as aluminum and titanium, and employ advanced technologies like automation, IoT, cloud computing, laser technology, multi-axis machines, hybrid machines, CNC controls, robotics, sensors, and more. Emerging industries like Renewable Energy, Medical Devices, and the Automotive sector also benefit from these machines, which come in various forms, including Hydraulic Punching Machines, Pneumatic Punching Machines, Servomechanical Punching Machines, Mechanical Punching Machines, Turret Punching Machines, and more. The market’s business strategy is characterized by fragmentation dominance and amalgamation traits, with CNC Punching Machines, Electric Punching Machines, Automatic, and Semi-Automatic systems being popular choices for mass manufacturing and industrial punching applications. The labor shortage drives the demand for automated manufacturing solutions, and advanced robots are increasingly being integrated into these systems to enhance productivity and efficiency. Overall, the Punching Machine Market is a dynamic and evolving landscape that continues to shape the future of metalworking and manufacturing industries.

Table of Contents:

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

TypeHydraulic Punching MachineMechanical Punching MachineOthersEnd-userAutomotive IndustryChemical IndustryConstruction IndustryOthersGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

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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SOURCE Technavio

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Hong Kong FinTech Week 2024: See How Novo AI is Transforming Insurance

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SINGAPORE, Oct. 23, 2024 /PRNewswire/ — Novo AI is thrilled to be a featured guest at the 2024 Hong Kong FinTech Week! As an invited panel speaker and participant in the Global Fast Track programme, they will be sharing industry insights and hosting attendees at their booth, showcasing the latest solutions for the insurance sector. 

Visit Novo AI’s Booth

Novo AI is tackling the biggest challenges faced by the Asian insurance industry today—leakage, overcharges, and inflated premiums—issues that create inefficiencies and unhappy customers. How can technology help address these problems without adding huge costs to your business? Novo AI has the answers.

Stop by their booth to learn about how they can prevent fraud and operational abuse on a large scale. Be sure to sign up and schedule your meetings in advance through Brella to make the most of your visit.

Dates: October 28th to 29th

Location: East Hall > Wealth Tech & Invest Tech/InsurTech Forum > Booth No. RD05

Global Fast Track Sharing Session

At the Global Fast Track programme, Novo AI’s CEO, an ex-Google engineer from Silicon Valley, will present a comprehensive overview of the current state of the insurance industry in Asia. This session will showcase how generative AI is transforming operations, enhancing efficiency, and improving combined ratios—all with minimal integration required.

It’s no longer about automating customer service, but fundamentally reshaping the way insurance companies operate, with ripple effects throughout the industry.

Date: October 28th, 4:15pm to 4:45PM

Location: Hall 1 > WealthTechStage

Panel Discussion: Insights from Industry Leaders

Novo AI will join an exclusive panel alongside the CEO of Blue Insurance and the Group Chief Customer and Marketing Officer of Prudential to explore the real-world challenges facing the Asian insurance sector and how AI is delivering practical solutions. This discussion goes beyond just technical insights—expect real-life feedback and perspectives from C-suite users who are at the forefront of this innovation.

Date: October 29th, 4:15pm to 4:45pm

Location: East Hall > Wealth Tech & Invest Tech/InsurTech Forum

Key Dates to Remember

Main Conference: October 28th – 29th at Hong Kong Asia World-Expo

Satellite & Partner Events: October 30th – November 1st, across Hong Kong, Shenzhen, and other international locations

Sign up now before tickets run out!

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/hong-kong-fintech-week-2024-see-how-novo-ai-is-transforming-insurance-302282797.html

SOURCE Novo AI

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VVDN announces Innovative GenAI Solutions for Global Customers

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VVDN’s offering, built on Google Cloud, will help clients and its workforce leverage the power of Gen AI to drive rapid innovation, growth, and transformation

GURUGRAM, India, Oct. 23, 2024 /PRNewswire/ — VVDN Technologies, a global provider of Software, Product Engineering, Electronics Manufacturing Services, and Solutions, announces the integration of Google’s advanced Gen AI models and solutions, including Gemini Pro, into its workforce and existing IP products. 

By leveraging Google Cloud’s advanced capabilities, VVDN has built new industry solutions utilizing the Gemini family of AI models, developed joint go-to-market programs, and integrated Gemini Code Assist into its internal tools. This includes the development of GenAI solutions for Log Analytics, Device Management, and Smart Virtual Assistants for multiple industries such as IoT, Telco, Networking, Industrial, Automotive, HealthTech, and AgriTech. These solutions are built on Google Cloud’s Vertex AI platform, Vertex AI Search and Conversation, and more. 

Using its extensive domain expertise across various industry sectors and investments in research and innovation, VVDN has built a broad range of AI/ML-powered solutions and IPs including the Intelligent Cloud Engine (ICE), Intelligent Network Controller (INC), and RAN Intelligent Controller (RIC). The company is currently collaborating with clients across different industries to explore the potential applications of GenAI in their specific business environments.

This collaboration between VVDN and Google Cloud aims to significantly enhance developer productivity within VVDN, accelerate cloud migrations, and deliver industry-leading Gen AI solutions to VVDN’s clients worldwide.

VVDN has a workforce of over 300 professionals that are trained and certified in Google Cloud, reinforcing VVDN’s commitment to delivering state-of-the-art solutions that meet the evolving needs of its global clients. By integrating Google’s GenAI tools, VVDN aims to stay at the forefront of innovation, providing its clients with unparalleled capabilities to achieve their digital transformation goals.

Vivek Bansal, Founder & President at VVDN Technologies: “With a comprehensive understanding of our customers’ businesses, we are in a strong position to develop cutting-edge enterprise-level solutions using GenAI. VVDN is investing in resources, frameworks, and expertise to leverage the potential of GenAI to drive growth and facilitate transformation for our customers. By integrating Google Cloud’s Gen AI-powered solutions into our operations, we expect to see productivity improvements of over 30 percent in our digital transformation projects. This will not only benefit our internal teams but also empower our clients with cutting-edge tools to drive their innovation.”

“Google Cloud is committed to empowering partners like VVDN with the most advanced AI tools available. Their innovative approach to integrating Gemini into industry-specific solutions is a testament to the transformative power of generative AI. We’re excited to collaborate with VVDN as they help customers across various sectors unlock new levels of efficiency and innovation,” said Bikram Singh Bedi, Vice President and Country Managing Director of Google Cloud in India.

About VVDN Pvt. Ltd:

Founded in 2007, VVDN is a technology innovation company focusing primarily on Software Services, Product Engineering and Manufacturing Services. VVDN’s India HQ is located at Gurgaon, India, and its North America HQ is located in Fremont, CA, USA. VVDN has a presence across the world with offices in US, Canada, Europe, Vietnam, South Korea, and Japan. With 11 advanced R&D Centres, VVDN is fully equipped to design, develop & test the complete hardware, mechanical & software required for a complete product or solution. VVDN’s 7 Manufacturing facilities are located at Manesar, Gurgaon, and Pollachi, Tamil Nadu, India, which includes in-house best-in-class SMT Factory, Mold & Tooling Factory, Injection Molding, Die Casting, Powder Coating, Sheet Metal, Product Assembly Factory, and Product Certifications labs. Company offers a comprehensive suite of services from Hardware to Mechanical, Embedded Software to Cloud & Apps, Testing & Validation to Automation as well as Mass Manufacturing to its global customers.

For further information, please contact:
Kunwar Sinha
Kunwar.sinha@vvdntech.com
+91 9971887719

Logo: https://mma.prnewswire.com/media/1531036/VVDN_Technologies_Logo.jpg

 

 

View original content:https://www.prnewswire.co.uk/news-releases/vvdn-announces-innovative-genai-solutions-for-global-customers-302281867.html

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Overseas Chinese Media explore Jiangxi’s history, culture and ecology

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JI’AN, China, Oct. 22, 2024 /PRNewswire/ — A report from Jiangxi International Communication Center (JXICC): The Walk in China-2024 Overseas Chinese Media Senior Leaders Tour of Jiangxi concluded on the 19. During the week-long joint interview, 22 overseas Chinese media representatives from 18 countries and regions across five continents, visited Nanchang, Jiujiang, and Ji’an to experience Jiangxi’s history, culture, ecology, and development.

Feeling the Red historical memory

Jiangxi is a red land full of red historical memories. Jinggang Mountain, the cradle of the Chinese revolution. Nanchang, the cradle of the People’s Army. Ruijin, the cradle of the People’s republic. Anyuan, the cradle of the labor movements.

Lushan Mountain, this famous mountain of China which has brought generations of scholars and writers to the world, has also suffered from the baptism of war, carrying the heavy social and political history of China in modern times.

Experiencing the profound culture

Throughout the history of Chinese civilization, Jiangxi has produced a galaxy of renowned figures, such as Tao Yuanming, Ouyang Xiu, Wen Tianxiang, and Bada Shanren, whose legacies continue to shine brightly.

At the Bada Shanren Memorial Hall, Pan Xiaoxian, a reporter from Indonesia’s Qian Dao Daily, used her phone to capture images of Bada Shanren‘s authentic artworks. “His works have a natural beauty that brings joy and comfort to the viewer, allowing us to feel the artist’s unique charm,” she remarked.

At the National Archaeological Site Park of Haihun Principality of Han Dynasty, the artifacts displayed at the museum left Yan Jia, vice president of Brazil’s Brazil-China News Agency, in awe. She noted that the unearthed relics cover every aspect of the marquis’s life, fully showcasing Han Dynasty culture. Many of the artifacts reflect the exquisite craftsmanship and aesthetic sensibilities of the ancient people.

Yan Jia was also impressed by the China Jinshi Cultural Park in Ji’an.”The China Jinshi Museum in the park systematically presents the historical development of the imperial examination system. I hope to use multimedia channels to share Luling Culture, which has accumulated over a thousand years, with the Brazilian people,” she said.

Recording the beautiful green ecology

Jiangxi is famous for its lush mountains and clear waters. The timeless verses “The setting sun flies with a lonely bird; autumn waters stretch to the horizon” and “I cannot see the true face of Lushan because I’m in the mountain” are apt descriptions of Jiangxi’s natural beauty.

Encountering the mist-covered Lushan Mountain, Zhu Xine, vice president of Egypt’s China Weekly exclaimed, “Lushan Mountain is picturesque all year round and hopes to introduce its beauty to more overseas audiences.”

At the Lushan West Sea Scenic Area, located just over an hour from the Lushan Mountain, Du Bingyu, deputy editor-in-chief of Cambodia’s Jian Hua Daily, was captivated by the mist-shrouded scenery of the lakes and mountains. She said, “I will continue to report on Lushan West Sea to let Cambodians know about this beautiful place in China.”

From October 13 to 19, the Walk in China-2024 Overseas Chinese Media Senior Leaders Tour of Jiangxi, jointly organized by China News Service, the Global Chinese Media Cooperation Union, and the Jiangxi International Communication Center was held. The event aimed to capture and highlight the ecological, cultural, and developmental beauty of Jiangxi through the unique perspectives and vivid storytelling of overseas Chinese media.

https://www.youtube.com/watch?v=3v9b-gf76Ts

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SOURCE Jiangxi International Communication Center(JXICC)

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