Total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 4.9% from January’s $204.5 million and up 9% when compared with the $196.9 million reported for February 2023. With a year-to-date total of $419.1 million, 2024 is up 6.5% when compared to the same time period in 2023.
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The AI institute will be a new addition to this network and will focus on conducting research and development projects, establishing employer-led sectoral partnerships to develop training resources, and creating pathways for the skilled workforce needed to move innovation into industrial practice.
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Advantech has announced its strategic collaboration with Qualcomm Technologies, Inc. to revolutionize the edge computing landscape. This effort, combining AI expertise, high-performance computing, and industry-leading connectivity, is set to propel innovation for industrial computing.
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Verisurf Software and Hexagon Manufacturing Intelligence have entered a metrology solutions agreement. Under the agreement, Verisurf will offer complete metrology solutions that combine its popular model-based inspection and measurement software, training, and live technical support with proven Hexagon portable CMMs.
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NUBURU, a leading innovator in high-power and high-brightness industrial blue laser technology, has announced a $3 million dollar investment in the Company’s common stock by strategic investors focused on strengthening and growing the Company, as well as initial purchase orders from new customers in new markets.
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Hexagon, a global leader in digital reality solutions, combining sensor, software and autonomous technologies, has announced the acquisition of Itus Digital, a Virginia, USA based provider of asset performance management (APM) software.
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As part of its strategic expansion efforts, Stemmer Imaging has signed an agreement to acquire 100% of the shares in Phase 1 Technology, New York, USA.
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INSPHERE, manufacturers of IONA sensors, have a long history of working alongside the AMRC, having collaborated on the I-UK funded UMAC and ACCUFAS projects. The partnership formalises their continued alliance to drive intelligent automation in the UK through the development of robot improvement technology.
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Recognized last year at HANNOVER MESSE with the ‘Digital Startup of the Year’ award from the German Federal Ministry for Economic Affairs and Climate Protection, Threedy, a specialist in industrial 3D data processing, has recently secured 10.4 million dollars in the latest Series A investment round.
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Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT totaled $338 million in January 2024, a 31% decline from December and a 3.7% decline from January 2023.
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