HP Inc. (HPQ - Free Report) recently announced back-to-back new offerings and extended partnerships to aid and accelerate the digital transformation journey of its customers.
HP expanded its alliances with major companies like BASF (BASFY - Free Report) , Materialise (MTLS - Free Report) and Siemens (SIEGY - Free Report) .
The company has further boosted its 3D printing portfolio by introducing the Jet Fusion 5200 Series 3D printing solution, which will enable customers to scale their 3D production and achieve business growth.
Efforts to Boost Presence in 3D Printing Market
Reportedly, Siemens will integrate HP’s 3D printing and data intelligence platform with its Digital Enterprise software portfolio.
Additionally, BASF and HP are collaborating to deliver BASF materials with HP’s 3D printing solutions, which will help customers design and develop new applications. Notably, BASF and HP are already working with wind turbine provider Vestas and 3D design and production service provider Sculpteo, on new applications built with BASF’s Ultrasint TPU on HP Jet Fusion 3D printing systems.
Moreover, Materialise will integrate the newly launched HP Jet Fusion 5200 and HP Jet Fusion 500/300 3D printing solutions with its Build Processor and Magics 3D Print Suite. Materialise is also a partner in HP’s new initiative, HP Digital Manufacturing Network.
The HP Digital Manufacturing Network was introduced by the company to help participating partners design, produce, and deliver plastic and metal parts using HP 3D printing solutions. The network includes partners from the United States, Asia and Europe and will soon be expanded further into other target markets.
Products & Partnerships Aid Growth
The 3D printing market presents significant long-term investment opportunities as a large number of engineers, designers, architects and entrepreneurs are now turning to 3D solutions for primary designing and product modelling.
Thus, in order to establish its presence in this space, HP had launched Jet Fusion 3D Printing Solution in 2016. Unlike its competitors, the company emphasizes only on industrial markets because of their ability to afford a premium range of 3D printing solutions.
To satisfy customers in this space, HP has collaborated with various companies like BMW, Nike and Autodesk with an aim to develop more advanced 3D printing technologies for a wide array of industrial use.
We believe that such consistent product launches, partnerships and initiative efforts will help HP strengthen its presence in the highly competitive 3D printing market.
Per Wohlers Associates’ latest report, nearly 200 companies are now making industrial-grade 3D printers, up from less than 40 companies five years ago.
HP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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