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5-Axis CNC Machining Centers Market to Grow by USD 792.5 Million (2024-2028), Driven by Self-Optimized Cutting, AI Transforming Market Landscape – Technavio

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NEW YORK, Nov. 25, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global 5-axis CNC machining centers market size is estimated to grow by USD 792.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.09%  during the forecast period. Self-optimized machine cutting is driving market growth, with a trend towards reduction of changeover time for 5-axis cnc machines. However, highly capital-intensive market  poses a challenge.Key market players include DMG MORI Co. Ltd., Doosan Corp., FANUC Corp., Gebr. Heller Maschinenfabrik GmbH, GF Machining Solutions AG, GROB WERKE GmbH and Co. KG, Haas Automation Inc., Hardinge Inc., Hurco Companies Inc., Hyundai Motor Co., JTEKT Corp., Jyoti CNC Automation Ltd., Makino Inc., Maschinenfabrik Berthold Hermle AG, Mitsubishi Electric Corp., Okuma Corp, SCM GROUP Spa, Siemens AG, Starrag Group, and Yamazaki Mazak Corp..

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5-Axis Cnc Machining Centers Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.09%

Market growth 2024-2028

USD 792.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.64

Regional analysis

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

Performing market contribution

APAC at 42%

Key countries

US, China, Germany, Japan, and France

Key companies profiled

DMG MORI Co. Ltd., Doosan Corp., FANUC Corp., Gebr. Heller Maschinenfabrik GmbH, GF Machining Solutions AG, GROB WERKE GmbH and Co. KG, Haas Automation Inc., Hardinge Inc., Hurco Companies Inc., Hyundai Motor Co., JTEKT Corp., Jyoti CNC Automation Ltd., Makino Inc., Maschinenfabrik Berthold Hermle AG, Mitsubishi Electric Corp., Okuma Corp, SCM GROUP Spa, Siemens AG, Starrag Group, and Yamazaki Mazak Corp.

Market Driver

Five-axis CNC machining centers are advanced manufacturing solutions that offer precision, adaptability, and efficiency for industrial operations. These systems utilize linear axes for X, Y, and Z movements, as well as rotating axes for A and B, enabling multi-sided machining of complex parts. Trends in this market include the medical industry’s demand for high-precision components, aerospace and defense’s need for lightweight structures, and hybrid manufacturing combining subtractive processes with additive technologies. CNC programming, toolpath optimization, and specialized training are essential for effective operation. Precision engineering sectors, such as aerospace, automotive, and medical, benefit from the ability to produce complex geometries with minimal setup times and cycle time. Real-time monitoring, smart instruments, and multifaceted tools ensure manufacturing efficiency and quality improvement. Vertical machining centers and horizontal machining centers cater to various industries, including petroleum, metal fabrication, commercial aviation, military systems, electric vehicles, and general machinery. Industrial robots further enhance manufacturing processes by automating material handling and labor safety. Five-axis technology’s adaptability and precision make it an indispensable part of modern manufacturing processes, driving innovation in various industries. 

The 5-axis CNC machining centers market is experiencing increased demand due to the significance of reducing changeover times to enhance productivity. Changeover time, the interval between the completion of one workpiece and the setup of the next, significantly impacts productivity negatively. To mitigate this issue, manufacturers are focusing on trends such as parallel operation. During parallel operation, workpieces are prepared in separate working areas while the CNC machine executes an operation on another workpiece. This approach reduces idle time and ultimately boosts productivity, making 5-axis CNC machines an attractive investment for businesses. 

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 Market Challenges

The 5-axis CNC machining centers market is witnessing significant growth due to the increasing demand for advanced machining systems in various industries. Precision and adaptability are key factors driving this trend, as these systems enable the production of complex parts with high precision and efficiency. Industrial operations in sectors like aerospace, defense, medical, and automotive require intricate components with minimal setup times and optimal cycle times. Linear axes and rotating axes enable multi-sided machining, reducing the need for multiple setups and increasing manufacturing efficiency. The medical industry and high-precision components sector particularly benefit from this technology, as do industries producing complex geometries for applications in fields like aerospace and defense. Challenges in this market include the need for specialized training, toolpath optimization, and CNC programming. Hybrid manufacturing, combining subtractive processes with additive manufacturing, is a potential solution. Vertical and horizontal machining centers, industrial robots, and smart instruments are essential tools in this advanced manufacturing landscape. Safety, real-time monitoring, and cutting parameters are crucial considerations for labor safety and quality improvement. Changeover time, material handling, and manufacturing process optimization are also essential aspects of this dynamic market. The future of 5-axis CNC machining centers lies in advanced manufacturing solutions, incorporating the latest technology to meet the demands of diverse industries.The 5-axis CNC machining centers market is a significant investment for manufacturers, with raw materials accounting for approximately 48% of the overall manufacturing cost. Raw material prices, including iron, steel, aluminum, brass, and copper, significantly impact market profitability. Fluctuations in these prices necessitate frequent adjustments to pricing strategies, adding to operational expenses. Furthermore, workforce training and consultant hiring add to the financial burden. The need for continuous technological advancements also increases research and development costs, contributing to the market’s high manufacturing costs.

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Segment Overview 

This 5-axis cnc machining centers market report extensively covers market segmentation by  

End-user 1.1 Automotive1.2 Aerospace1.3 Metal fabrication1.4 OthersProduct 2.1 Vertical 5-axis CNC machining centers2.2 Horizontal 5-axis CNC machining centersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Automotive-  The global automotive industry is experiencing significant changes due to regulatory framework updates, technological advancements, and evolving customer preferences. OEMs are responding by launching new vehicle categories, such as micro-SUVs and mid-size pickup trucks, to cater to diverse customer segments. Strict emission regulations and fuel efficiency standards are pushing automakers to adopt advanced manufacturing technologies, including 5-axis CNC machining centers. These systems enable cost-effective production of automotive parts and components with high precision. Despite the popularity of 3-axis machining, 5-axis CNC systems are increasingly preferred for turning and milling operations. The increasing demand for automobiles, particularly in oil-importing countries like India and China, will drive the growth of the 5-axis CNC machining centers market in the forecast period. The low gasoline prices are also fueling investment in the automotive sector, leading to higher adoption of these advanced manufacturing technologies.

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Research Analysis

The 5-axis CNC machining centers market represents the latest evolution in advanced machining systems, offering unparalleled precision and adaptability for industrial operations. These systems enable the production of complex parts with intricate geometries, reducing setup times and increasing efficiency. 5-axis machining centers utilize both linear axes for X, Y, and Z movements, as well as rotating axes for B and C movements, allowing for multi-sided machining. Industries such as medical, aerospace, petroleum, and metal fabrication benefit greatly from these high-precision components. Hybrid manufacturing, combining 5-axis machining with other processes like additive manufacturing, further expands the capabilities of these systems. Vertical and horizontal machining centers are common types, each with their unique advantages. Cycle time and material handling are critical factors in optimizing manufacturing processes, while quality improvement and changeover time are essential for maintaining competitiveness. Computer Numerical Control (CNC) technology ensures precise tool movement, and the manufacturing process is streamlined through efficient setup and production processes.

Market Research Overview

The 5-axis CNC machining centers market encompasses advanced machining systems designed for manufacturing complex parts with high precision and adaptability. Industrial operations rely on these systems to produce intricate components with minimal setup times and increased manufacturing efficiency. 5-axis technology incorporates linear axes for X, Y, and Z movements, as well as rotating axes for B and C axes, enabling multisided machining and manufacturing of complex geometries. Industries such as medical, aerospace and defense, petroleum, and automotive benefit from the production of high precision components using these systems. Hybrid manufacturing, subtractive processes, and CNC programming are integral to the manufacturing process, requiring specialized training for operators. Real-time monitoring, toolpath optimization, and smart instruments enhance the production process, reducing cycle time and changeover time. Vertical and horizontal machining centers cater to various industries, including aerospace, defense, commercial aviation, electric vehicles, and general machinery. The integration of industrial robots and advanced manufacturing solutions further streamlines manufacturing processes, ensuring labor safety and quality improvement.

Table of Contents:

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

End-userAutomotiveAerospaceMetal FabricationOthersProductVertical 5-axis CNC Machining CentersHorizontal 5-axis CNC Machining CentersGeographyAPACNorth 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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SOURCE Technavio

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Meta, Watsons Hong Kong, Hong Kong Life and OPTICAL 88 unlocked WhatsApp potential with Omnichat

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Create end-to-end customer journeys using WhatsApp Flows and ads that click to WhatsApp with Meta to accelerate business growthRedefine customer engagement with Omnichat’s WhatsApp membership system and enhance campaign tracking and optimisation through the Conversions APIWatsons Hong Kong integrated WhatsApp into the customer journey, from initial product discovery through to final purchase and payment, thereby offering customers a more convenient O+O experienceHong Kong Life revolutionised its interactions with customers by WhatsApp marketing, streamlining the acquisition of potential customers and elevating the overall customer experienceOPTICAL 88 leveraged WhatsApp’s direct messaging capabilities to create tailored, one-on-one conversations with customers, strengthening relationships and boosting satisfaction, resulting in an impressive 26% click-through rate on messages

HONG KONG, Nov. 26, 2024 /PRNewswire/ — Omnichat, an all-in-one omnichannel customer experience platform offering conversational commerce solutions, recently hosted a highly scalable conference titled “Unlocking Revenue Potential with Omnichannel Customer Experience”, which featured insights on delivering exceptional customer experiences via WhatsApp, with contributions from industry experts at the global social media giant Meta, international health and beauty retailer Watsons Hong Kong, the one-stop insurance and financial service provider Hong Kong Life, and the professional optical brand OPTICAL 88.

 

Omnichat, as the WhatsApp Business Solution Provider of Meta, introduced how its advanced omnichannel customer experience solutions empowered businesses to effortlessly drive customer loyalty and achieve personalisation through seamless journeys during the event. “Numerous businesses are seeking ways to streamline customer journeys, and WhatsApp Flows offers the perfect solution. Integrating WhatsApp Flows with marketing campaigns empowers businesses to design, build, and customise experiences. This provides customers a fast, simple way to complete tasks within a conversation, ultimately driving conversions and delivering better results,” said Alan Chan, Founder and CEO of Omnichat. The newly launched WhatsApp membership system offers brands and their customers a user-friendly loyalty solution by leveraging WhatsApp, the most popular messaging app in Hong Kong. “When constructing end-to-end customer journeys, loyalty is a crucial element that must not be overlooked. The WhatsApp membership system is designed to strengthen customer relationships through loyalty points, coupons, and membership cards, facilitating future re-engagement and encouraging potential repurchases.” Leveraging the power of Omni AI, auto-generated message content can be customised for various customer segments, enhancing efficiency in marketing and customer service while achieving personalisation. 

WhatsApp has the highest social media platform penetration rate of 79% in Hong Kong, according to the survey conducted by GWI. Driving engagement and growth across the customer lifecycle, the WhatsApp Business Platform plays a pivotal role in connecting with customers from discovery, consideration, purchase to re-engagement. “Meta has continually expanded the capabilities of business messaging to empower companies across various sectors to drive awareness, boost conversions, and create meaningful customer relationships for remarketing,” said Vicky Yiu, APAC Strategic Partnership Manager of Meta. “By creating a customised WhatsApp experience, WhatsApp Flows has achieved measurable results in generating more leads, appointments, and revenue directly within the platform, providing increased convenience for both businesses and their customers.” Meta also offers comprehensive tracking of the entire customer journey with the Conversions API. From the initial ads that lead to WhatsApp engagement, through subsequent WhatsApp interactions, to the final conversion, businesses can now generate actionable insights and fine-tune their advertising strategies with precision.

Prolog Leung, Online Business Director of Watsons Hong Kong also shared in the seminar, “Watsons Hong Kong has successfully integrated WhatsApp commerce into its innovative O+O (Offline plus Online) retail strategy by seamlessly implementing Omnichat’s conversational commerce solution, streamlining the checkout process and delivering an unparalleled shopping experience. It bridges the gap between digital convenience and personalised service. We are now handling tremendous customer enquiries monthly via WhatsApp, minimizing the waiting time of customers to answer their enquiries. Our ‘Watsons Here For You’ service offers one-on-one consultations with pharmacists, Chinese medicine practitioners, and dietitians via WhatsApp. This seamless integration of digital and physical retail spaces allows our customers to engage with our brand at their convenience, not only boosting online engagement and sales but also driving foot traffic to our physical stores.” 

Hong Kong Life has revolutionised its marketing and customer service strategies by leveraging WhatsApp and Omnichat’s advanced messaging solutions. Initially implemented to manage multi-channel enquiries on social media platforms, Hong Kong Life had quickly realised the transformative potential of WhatsApp for business growth and customer experience enhancement. “We have uncovered the limitless potential of WhatsApp in our marketing and customer service. The automated chatbot can now efficiently handle over 90% of simple enquiries, allowing our team to focus on marketing and nurturing deeper customer relationships,” said Jonathan Ko, Chief Marketing Officer of Hong Kong Life. “We have strategically implemented interactive Q&A games via WhatsApp chatbots, incentivising participation with exclusive coupons. This not only enhances customer engagement but also significantly expands our WhatsApp database. Leveraging this growing database to deliver targeted marketing broadcasts, our campaigns have recorded a remarkable 70% read rate, substantially boosting business conversions.” 

OPTICAL 88 has further solidified its reputation for exceptional customer service by leveraging the WhatsApp Business Platform. This strategic move has not only enhanced communication efficiency but also instilled a greater sense of trust and convenience among customers, thanks to the platform’s authorised blue tick verification. Andrea Chan, Digital Marketing Manager of OPTICAL 88 emphasised the significance of this digital transformation, “Maintaining a close, personal connection between our sales team and customers is a cornerstone of our brand values. We have observed that regardless of demographic, our customers overwhelmingly prefer the immediacy and interactivity of WhatsApp over traditional email communications, resulting in up to 26% click-through rate on our messages.” OPTICAL 88 has also broadened its tactical approach beyond one-to-one communications. Andrea further explained, “By integrating omnichannel chatbots with our social media strategy, particularly for Facebook comment auto-replies, we have facilitated engaging social media campaigns while effectively driving online traffic to our physical stores.”

By seamlessly integrating automated systems with personalised human interactions, the comprehensive chat commerce solutions are revolutionising the way businesses interact with their customers across WhatsApp Business Platform, Facebook Messenger and Instagram Direct, and setting new industry standards for customer experience excellence. 

About Omnichat:
Founded in 2017 with its headquarter in Hong Kong, Omnichat is an omnichannel chat commerce solution provider that centralises customers’ conversations from WhatsApp Business Platform, Facebook Messenger, Instagram, LINE, WeChat and website live chat into a single platform to enhance efficiency and productivity.

With a strong presence in the Asia Pacific region, the company has established a solid reputation for serving local and international retail and e-commerce brands. By offering an omnichannel social customer data platform, online-merge-offline(OMO) sales integration, marketing automation, chatbots as well as customer service platform, Omnichat strives to empower brands to deliver personalised customer journeys and drive digital transformation, ultimately converting visitors into customers through chats.

Website: https://www.omnichat.ai/
WhatsApp: https://wa.me/85291925071/?text=EnquiryForWhatsApp
LinkedIn: https://hk.linkedin.com/company/omnichat-easychat
Facebook: https://www.facebook.com/OmnichatAI

For media enquiries, please contact:
Omnichat Limited
Lily Yeung
Associate Director of Communications
Tel: (852) 9803 5977
Email: lily.yeung@omnichat.ai

Macy Chun
Communications Manager
Tel: (852) 6234 9555
Email: macy.chun@omnichat.ai

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SOURCE Omnichat Limited

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AccuRadio Shields Listeners from ‘The Little Drummer Boy’ in 2024 Challenge

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CHICAGO, Nov. 25, 2024 /PRNewswire/ — This holiday season, AccuRadio, one of the world’s leading online radio services, is stepping up to protect listeners from the ultimate seasonal pitfall: Hearing the song “The Little Drummer Boy.”

This Christmas, AccuRadio is helping music fans dodge the ultimate holiday pitfall: Hearing “The Little Drummer Boy”

“We have a foolproof plan to help our listeners stay safe from that song this holiday season,” announced Kurt Hanson, Founder and CEO of AccuRadio.

AccuRadio’s initiative supports the Little Drummer Boy Challenge — a playful annual game in which countless holiday music lovers aim to avoid hearing “The Little Drummer Boy” for as long as possible, from 12:01am local time on Black Friday through 11:59pm on December 23rd (per littledrummerboychallenge.com). The challenge, originally born in Silicon Valley tech circles, has become a cherished holiday tradition, uniting music fans across the globe.

To aid participants in their quest, AccuRadio is launching a set of “safe zone” Holiday Music channels that feature all the festive classics listeners love, with one notable exception: “The Little Drummer Boy” is completely off the playlist.

“We want holiday music fans to have a safe space to enjoy their favorite holiday songs without fear of losing the challenge,” Hanson said.

For those feeling mischievous, AccuRadio is also introducing a specially-disguised channel that will actually play nothing but dozens of versions of “The Little Drummer Boy,” perfect for pranking friends. “We call it getting drum-rolled,” explained Paul Maloney, AccuRadio’s VP/Programming.

Todd Manley, VP/Promotion at AccuRadio, emphasized the platform’s commitment to its listeners: “In a world where online safety can be challenging to find, we’re making it easy for holiday music fans to enjoy their season with true peace of mind.”

AccuRadio’s “safe zone” channels are a new addition this year to what is already the most extraordinary collection of holiday music channels available anywhere. AccuRadio offers over 125 curated (and personalizable) Christmas music channels focusing on specific genres, decades, regions, tempos, and themes—making it the ultimate destination for holiday music enthusiasts.

This amazing assortment of holiday music channels can be found on the web at www.accuradio.com/christmas-music and on AccuRadio’s iPhone and Android mobile apps.

About AccuRadio
Launched in 2000 (making it one of the earliest pioneers in online audio), AccuRadio offers over 1,400 human-curated music channels (spanning over 50 genres) to over a million adult, upscale, and loyal users each month.

View original content:https://www.prnewswire.com/news-releases/accuradio-shields-listeners-from-the-little-drummer-boy-in-2024-challenge-302315954.html

SOURCE AccuRadio

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UPS Class Action News: Robbins LLP Reminds Investors of Quickly Approaching Lead Plaintiff Deadline in the United Parcel Service, Inc. Class Action

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SAN DIEGO, Nov. 25, 2024 /PRNewswire/ — Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities who purchased or otherwise acquired United Parcel Service, Inc. (NYSE: UPS) securities between January 30, 2024 and July 22, 2024. UPS is a multinational parcel delivery and supply chain management solutions company operating in more than 200 countries and territories.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that United Parcel Service, Inc. (UPS) Misled Investors Regarding its Business Prospects

According to the complaint, during the class period, defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, UPS’ optimistic reports of growth, plans to handle volume variability, upcoming profit growth, and consistent claims that the first quarter would present the worst margins of the fiscal year fell short of reality; the Company was not truly equipped to handle a volume surge without causing a corresponding significant decline in their operating margin.

Plaintiff alleges that the truth emerged on July 23, 2024, when UPS announced its financial results for the second quarter of fiscal 2024, provided lower-than-expected guidance for the third quarter, and reduced its margin guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on the shift in “U.S. volume mix both in terms of product and customer segmentation . . . toward value products.”  On this news, the price of UPS common stock fell from $145.18 per share on July 22, 2024, to close at $127.68 per share on July 23, 2024, a decline of $17.50 per share, or about 12.05% according to the complaint.

What Now: You may be eligible to participate in the class action against United Parcel Service, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 9, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses. 

About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.  Since our inception, we have obtained over $1 billion for shareholders.

To be notified if a class action against United Parcel Service, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising.  Past results do not guarantee a similar outcome.  

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SOURCE Robbins LLP

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