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Worldwide Spending on 3D Printing Projected to Grow 22.3% by 2020

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Worldwide purchases of 3D printers, materials, software, and related services are expected to total $13.2 billion in 2016.

According to a recent update to the Worldwide Semiannual 3D Printing Spending Guide from International Data Corporation (IDC), global spending on 3D printing will experience a five-year compound annual growth rate (CAGR) of 22.3% with revenues reaching $28.9 billion in 2020.

The United States will deliver roughly a quarter of worldwide 3D printing revenues throughout the 2015-2020 forecast period while the next three largest regions – Western Europe, Asia/Pacific (excluding Japan), and Japan – combined will deliver more than 50% of total revenues.

While the fastest growth will come from the Middle East and Africa (MEA) and Central and Eastern Europe (CEE) regions, Western Europe’s strong growth will significantly close the revenue gap with the United States by 2020. In fact, five of the eight geographic regions covered in the Spending Guide will see total revenue growth of more than 200% over the five-year forecast period.

“As the 3D Printing market matures, major trends are no longer confined to North America. Regions like Western Europe and Asia/Pacific are driving stronger levels of spending across different industries,” said Christopher Chute, vice president, Customer Insights and Analysis at IDC.

Discrete Manufacturing is the dominant industry for 3D printing, delivering more than two thirds of all worldwide revenues through much of the forecast.

And while all the industries examined in the Spending Guide will experience revenue growth of more than 100% over the forecast period, Healthcare will leap from the number 5 position in 2016 to the number 2 spot in 2020 with revenues growing to more than $3.1 billion. This move will be driven by strong investments from healthcare providers in both the United States and Western Europe.

“Thanks to the broader variety of 3D printers and materials that can be used, and also to lower prices, 3D printing is becoming more sophisticated and devoted to newer uses. In addition, existing use cases are increasing their market share.” said Carla La Croce, research analyst, Customer Insights and Analysis. “For example: dental printing is growing rapidly with the prospect of reaching one of the highest market shares in the near future (around 15% in 2020), as well as 3D printing for medical implants and devices (nearly 13% in 2020). Moreover, the 3D revolution is discovering new market niches, and new uses will arise in the future. IDC identifies the healthcare sector as the one with the highest growth potential.”

The use cases that will generate the largest revenues for 3D printing in 2016 are Automotive Design – Rapid Prototype Printing (more than $3.9 billion) and Aerospace and Defense Parts Printing (nearly $2.4 billion).

Tools and Component Printing will also emerge as a significant market in 2016. By 2020, Dental Printing will become a strong challenger for the number 3 position in terms of worldwide revenues while Medical Implant & Device Printing, Product Creation and Prototype Printing, and Prosthetics Printing will each generate worldwide revenues of more than $1 billion.

Purchases of 3D printers and materials combined will produce nearly two thirds of total worldwide revenues throughout the forecast period.

Revenues for computer-aided design (CAD) software are forecast to triple over the five-year forecast period while the market for on-demand parts services will nearly match this growth.

The gains in both software and on-demand parts printing are being driven by the rapidly expanding use of 3D printing for design prototyping and products that require a high degree of customization in non-traditional environments.

The Worldwide Semiannual 3D Printing Spending Guide quantifies the opportunity for 3D printers, which enable the creation of objects and shapes made through material that is laid down successively upon itself from a digital model or file. Revenue data is available for more than 20 use cases across 20 industries in eight regions. Data is also available for 3D printing hardware, materials, software, and services. Unlike any other research in the industry, the comprehensive spending guide was designed to help IT decision makers to clearly understand the industry-specific scope and direction of 3D printing expenditures today and over the next five years.

 


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E-Business

Kaduna, Google Launch First AI Training in Hausa Language

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Kaduna State Government, in partnership with Google and Data Science Nigeria (DSN), introduced the inaugural “AI for Beginners in Hausa,” marking the first instance of artificial intelligence (AI) training in a local language.

In Northern Nigeria, various challenges can impact access to tech education and career opportunities. These include diverse socio-cultural dynamics, infrastructural limitations, and language barriers. Photo: @Gov Uba Sani X handle

Sen. Uba Sani, Kaduna State governor, expressed profound gratitude to the partners for building support for women to use technology in harnessing the socio- economic development of the state and the country as a whole.

Represented by Dr Hadiza Balarabe, deputy governor, at the launch of Arewa Ladies for Tech and the mural unveiling of the AI for Beginners Learning Video series, Sani, said AI is not just the future; it’s the present.

According to him, Google pledged a $1.5 million grant to empower 20,000 Nigerian women and youths from underserved communities with essential 21st-century skills. This includes a plan to train 5,000 women and girls in areas such as data science and artificial intelligence through the Arewa Tech4Ladies initiative.

Mr. Olumide Balogun, director of Google in West Africa, said in his welcome address that Google’s mission was to organise the world’s information and make it universally accessible and useful.

Balogun said that this initiative was a commitment to enhance the representation and inclusion of women in the tech sector.

Dr Bayo Adekanmbi, chief executive officer of DNS, explained that by making AI education accessible in Hausa, the partnership was creating opportunities for innovation, entrepreneurship, and social impact.

Presenting a paper tagged, “AI in Education”, Dr Kashifu Inuwa, director-general of the National Information Technology Development Agency (NITDA), said a lot had been missed because AI was not being taught in the local language.

The DG was represented by Dr. Ahmed Tambuwal, head of the Digital Literacy and Capacity Building Department of NITDA.

 

 

 


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Chowdeck Secures $2.5M Seed Funding to Optimize On-demand Food Delivery in Nigeria

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Chowdeck, Nigeria’s on-demand delivery service, has secured $2.5 million in seed funding to optimize its operations and support expansion into more cities across the country.

The seed funding round included investment from YCombinator, Goodwater Capital, FounderX Ventures, Hoaq Fund, Levare Ventures, True Culture Funds and Haleakala Ventures. Simon Borrero and Juan Pablo Ortega (co-founders of Rappi – Latin America’s largest online delivery platform), Shola Akinlade and Ezra Olubi (co-founders of Paystack – one of Africa’s leading fintech companies. Acquired by Stripe for $200m), Sudeep Ramani (Sportybet), Ayo Arikawe (Thrive Agric) and Karthik Ramakrishnan (Amazon) also participated as angels.

Since launching in October 2021 after the COVID-19 lockdown in Lagos, Chowdeck has acquired more than 500,000 users and more than 3,000 riders (typically earning the same as senior civil servants in Nigeria) that serve 8 Nigerian cities (Lagos, Abuja, Ibadan, Port-Harcourt, Ilorin, Benin City, Abeokuta and Asaba).

This new funding will enable Chowdeck to double down on its market leadership in these cities and lay the groundwork for further expansion into other Nigerian cities.

Driven by a combination of increased smartphone and internet penetration, improved payment systems, evolving consumer preferences and a range of other factors, there has been a significant growth in on-demand delivery services in Nigeria in recent years.

For example, heavy traffic in major cities makes it challenging for people to shop for groceries, meals, or other goods, increasing the attractiveness of delivery services that can save time.

This growth trajectory is poised to continue as many of the challenges that hampered previous attempts at providing on-demand delivery services are fixed.

Chowdeck is the fastest delivery service operating out of Africa today, allowing consumers to buy food and have it delivered to their doorstep in 30 minutes, on average.

The startup has built an effective logistics operation that food vendors can leverage to seamlessly deliver meals to customers while also providing consumers with an easy platform to order meals from their favourite restaurants in their city.

The startup has also partnered with a wide range of leading quick-service restaurants such as Chicken Republic, Burger King, Bukka Hut and more to drive sales, provide logistics infrastructure and other services to enable enhanced customer experiences.

Femi Aluko, CEO and co-founder of Chowdeck, said, “We know that Nigerians love good food, and we just want to make it as easy as possible for them to access the food they desire.

Chowdeck was birthed to fulfil this purpose and we are committed to delivering truly excellent experiences for our customers, vendors and riders. We are pleased with the success we have achieved to date and excited to have raised these funds that will enable us to replicate that success in more parts of Nigeria, and add value to our customers, vendors, and riders in as many ways as we can.”

Shola Akinlade, CEO and co-founder of Paystack said, “Chowdeck is not only addressing the crucial need for an efficient and reliable on-demand delivery service in Nigeria, the team embodies innovation and a commitment to excellence.

It is a privilege to be part of their journey and I look forward to celebrating more success with them in months and years to come.

Apart from investing financially into the company, our experience with building Paystack puts us in a great position to provide a lot of practical support and I am excited to see what it is to come from the Chowdeck team.”

June Angelides, Partner at Levare Ventures, said “Chowdeck has quickly become a household name across Nigeria, priding itself on very high standards of execution. They are addressing a large and complicated problem, especially in Africa, delivering goods at record speed.

I am excited that they have proven that the opportunity is there beyond restaurants and supermarkets. The team have secured landmark partnerships with Shoprite, Chicken Republic and KFC, a sign of their grit. Their customers love them, their riders love them. There’s so much more to come and I’m excited to be with them on the journey”.


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Konga Launches Tech Month with Incredible Discounts

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Konga, Leading e-commerce giant has announced its highly anticipated Konga Tech Month starting from Wednesday, May 1, until Friday, May 31, 2024. This good news is not only for tech enthusiasts and bargain hunters but also for home appliance lovers, as this year’s edition goes beyond gadgets to feature home, office and lifestyle essentials.

Konga Tech Month has become a major event in the Nigerian shopping calendar. This annual sales extravaganza is widely regarded as one of the biggest gadget sales in the country. It offers a treasure trove of tech devices at unbeatable prices, attracting a massive audience eager to snag incredible deals on a wide range of products.

This year’s Konga Tech Month boasts an impressive selection of devices across various categories. Whether you need a reliable laptop, phone or a professional upgrade to your office and household with authentic appliances, Konga Tech Month has something to suit every need.

Throughout May, Konga’s customers will stand the chance to take advantage of special discounts on original printers, dependable power solutions and generators from companies like iTEC and iPower Inverters, mobile phones, refrigerators, inverters, and much more at up to half the price. Many freebies and deals will also be on offer for the fastest fingers in the Konga Flash Sale.

“Konga Tech Month is a testament to our commitment to providing Nigerians with access to high-quality yet affordable tech products,” said Mr Nnamdi Ekeh, CEO of Konga. “This year’s event promises to be even bigger and better than last year, so we are thrilled to get started. Thanks to Konga Tech Month, we can accomplish our mission of making cutting-edge technology available to everyone no matter their budget.”

The competitive pricing and special deals offered during Konga Tech Month are available for students, institutions, and organizations. Whether it’s outfitting a computer lab, updating office technology, or providing students with affordable laptops, Konga Tech Month offers a cost-effective solution.

A satisfied shopper from the last edition shared her excitement saying, “The Konga Tech event last year was incredible! I was able to get the high-performance laptop I’d been eyeing for months and at a price I couldn’t believe. The discounts were amazing, and the selection was huge. Plus, being able to choose between online shopping or visiting a Konga store was convenient and made shopping easier. I’m looking forward to Tech Week this year. I’ve been eyeing a new microwave and phone, and I know Konga will have the finest deals in town.”

Konga Tech Month offers a smooth shopping experience for everyone. Customers can browse the extensive selection of discounted tech products online at the Konga website (https://www.konga.com/) or visit any Konga retail outlets nationwide to experience the deals firsthand.

 


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