The non-durable manufacturing industry contributed a real gross output of 6.7% in the third quarter of last year. Manufacturing is a critical sector of the United States’ economy. This is considering the contribution it has directly or indirectly to the country’s GDP.
As this industry grows to become an anchor sector, there are specific anticipated trends in the year 2020 and beyond that will shape the process of production.
Technology will be at the center of these developments in the manufacturing industry. The rapid changes in manufacturing technology will revolutionize how the production business as we know it currently. Here are five critical trends to look out for in the sector going forward.
1. Robotics and Automation
Are you ready for smart manufacturing? The production sector is predicted to experience a level of efficiency previously unmatched. Technology and innovation in the industry are enabling a promising trend involving robotics and automation as tools to ease the manufacturing process.
For most companies, automation is the only solution to the myriad of constraints in the sector, such as the cost of production. Today collaborative robotics is considered as the only solution to lowering project costs. Cobots are easier to digest and generate returns sooner compared to the traditional process.
With robotics and automation, more companies will cut on the actual labor cost. Imagine a line operator who is capable of using programming to commandeer an entire production line alone. Well, that will be the typical factory of the future with less human input and greater efficiency.
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2. 3-D Printing
3D printing is becoming a staple in many modern sectors of the economy. The production business has picked up pace in the application of technology.
Today more companies are embracing three-dimensional printing as a solution to the design of future products. But even so, the future of manufacturing technology is 3D printing.
Are you looking to accelerate product design and development in the future? Then 3D printing is your solution. More companies will be looking to invest in 3D printing to enhance customized production and co-creation.
These two critical processes will set apart future factories when it comes to leveraging on the differentiation of products.
Imagine cutting the cost of tooling by more than half. Well, more manufacturing companies will move towards 3D printing with the view of reducing tooling investment. If your company is looking to move in tandem with the trends in manufacturing tech, then 3D printing ought to top your list.
3. Artificial Intelligence Is the Future of Manufacturing Technology
Artificial intelligence will have a significant influence on the future factory. The manufacturing industry is already experiencing tremendous positive implications of AI. Are you looking to leverage your business in the future on issues such as quality control?
AI will revolutionize how the production business deals with the design time. It will also change how the industry handles predictive maintenance. Visibly the role of AI in the manufacturing sector will become more perceptible as the demand for value creation grows steadily.
Your manufacturing business makes pertinent decisions related to production every day. AI will be central towards ensuring that such decisions focus more on analytics. The businesses that will leverage AI in the future will be able to achieve more cuts in unplanned downtime leading to better product designs.
Modern manufacturing companies will compete significantly on the ability to incorporate AI into routine manufacturing processes in the future. Such skills may enable the establishment of accurate insights on R&D? Your business must not be left behind in this new journey of discovery.
4. Augmented Reality and Virtual Reality
A few years ago, augmented reality in the manufacturing sector was a pipe dream. But with the trends in the production business, the possibilities of augmented and virtual reality are endless.
Is your production company hoping to thrive in the future? There may be a need to embrace this new manufacturing technology.
Augmented and virtual reality will provide a cutting edge advantage when it comes to the assembly of thousands of components. AR will offer exceptional leverage when it comes to the adaptability and capability of the product design. The future of manufacturing will also witness observable ease in product assembly.
Businesses operating in the manufacturing sector will also benefit from new levels of efficiency in machine maintenance and repairs. One of the highest costs that companies grapple with is that of repairs and maintenance. But with reduced research time, the future of manufacturing will witness a significant reduction in such expenses.
5. 5G Roll-out
The roll-out of the 5G network remains one of the hottest topics in most discourses across industries. Indeed, the manufacturing sector is bound to gain significant benefits from this roll-out. With the Internet of Things being at the center of the manufacturing process in the future, the 5G network couldn’t have come at a better time.
The future of manufacturing will witness an exciting trend in the growth of intelligent factories. Manufacturing technology is incomplete without a fast and reliable internet network system.
With the introduction of the 5G network, companies will enjoy greater download speeds. You’ll also have the luxury of notable extents of latency reduction in your operations.
The future factory will depend mainly on the collaborative role of an array of devices. But these devices cannot operate at optimum without the control of a reliable internet connection. The 5G network will be a game-changer in the manufacturing industry as it pioneers advancements in research and design.
Is Your Manufacturing Venture Technologically Ready?
Most of the modern processes in manufacturing depend on technology to steer research and design. The future of the production business will rely on cutting-edge manufacturing technology.
This technology will reduce costs, enhance efficiency, and promote unique product design. You need to be aware of these critical trends in the manufacturing sector for you to thrive in the future.
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