HP launches $84mn Singapore lab to prioritise digital manufacturing technology
The US-based software company, Hewlett Packard (HP), has announced a partnership with the Nanyang Technological University (NTU) in Singapore to unveil a research facility that concentrates on digital manufacturing technologies and additive manufacturing, ZD Net reports.
In a statement on Tuesday (23 October), it has been confirmed that the new $84mn HP-NTU Corporate Innovation Lab is the US vendor’s largest university research partnership globally and also becomes the first one for the Asian region.
HP revealed the facility is set to put an emphasis on digital manufacturing technologies, in particular 3D printing, as well as the areas of artificial intelligence (AI), cybersecurity, customisation, machine learning and new materials and applications.
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“NTU has established deep capabilities...in the areas of machine learning, data science, and additive manufacturing,” said Subra Suresh, NTU President. “These cutting-edge technologies are now an integral part of NTU's education and research ecosystem, and the NTU Smart Campus serves as a testbed for them.”
The facility will work on 15 projects in order to gain a better understanding of advanced polymers for manufacturing applications, tapping AI to aid printers to predict and resolve issues automatically and help the development of bioprinting models for the printing of viable tissues.
We are committed to innovating with purpose, not only driving the technology breakthroughs that improve HP's business, but also contribute to creating economic opportunity and improving people's lives," added Dion Weisler, HP CEO and President.
The lab is set to be supported by a team of 100 researchers and staff.
Four Factory of the Future Market Trends to Keep an Eye on
Global Smart Manufacturing Market
Attributed to the rapid growth in the adoption of automated systems in industrial processes, the is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026.
While COVID-19 has somewhat slowed down the market’s growth, it is expected that by the second to third quarter of 2023 there will be a ‘considerable’ rise in growth for the market.
Key players in the industry: Schneider Electric, General Electric, Siemens, Honeywell International Inc., Rockwell Automation Inc., FANUC Corporation, and Emerson Electric Co.
Industrial Automation Market
Making people’s lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value.
Key players in the industry: ABB, Siemens, General Electric, Schneider, Endress+Hauser, Yokogawa, Honeywell, WIKA, Azbil, Fuji Electric, 3D Systems, and HP.
Smart Factory Market
Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.
Other driving factors include resource optimisation, cost reduction in production operations, increased demand for industrial robotics, rising demand for technologies, and the growing significance of energy efficiency.
Key players in the industry: Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., Endress+Hauser AG, and Yokogawa Electric Corp.
Artificial Intelligence (AI) in Manufacturing Market
“It is undeniable that the manufacturing industry is at the forefront of artificial intelligence implementation,” says . “Manufacturers are using AI-powered analytics to increase performance, product quality, and employee protection, from substantial reductions in unplanned downtime to better crafted goods.”