An online report states that 63% of the world population has been using the Internet. This can be justified with the growth of many industries and their technology usage for the past few years.
The manufacturing industry has been encashing on the Internet extensively to operate facilities as well as manage the workforce. This is similar to the use of cloud-based applications in the manufacturing industry.
With the growth of the manufacturing industry. There exists a strong opportunity for developing and implying a new set of updated technologies. Keeping in mind the rapid release of advanced tech trends, the manufacturers can be prepared for cutting-edge technologies.
So, here are some possible tech trends that may turn out to be the key growth drivers for the manufacturing industry in the near future.
Tech Trends in Manufacturing Industry
1. Rise of Automation
Automation in the manufacturing industry could be directly related to the fact that today most of the manufacturing companies are looking for making their operations more efficient.
With automation, the industry has now been able to capitalize on the next-generation tools for improving production capabilities.
Although the implementation of AI-powered machines might still be lying in a budding stage. It is clearly evident that the future of automated manufacturing would also be considering the use of these advanced technologies for their production. An enhancement in the quality along with efficiency supported by lower costs makes it more interesting.
2. IoT (Internet of Things)
The full digitization in manufacturing is only possible when there is full connectivity of all devices in the process cycle. Using IoT, smart sensors can be deployed for tracking the discrete processes, inventory levels along with equipment performance.
When the devices capture real-time data the decision-makers of an organization can track and enhance the efficiency, supply chain outputs along with inventory levels.
The collection of data from the sensor is also on the rise and will be crucial for facilitating better decision making. This would be crucial for the manufacturing process, as it would give a clear understanding of the manufacturing process, production lines and planning the effectiveness along with employee efficiency.
The introduction of blockchain in the manufacturing industry is going to have a direct impact on the security, speed as well as cost-effectiveness of the financial transactions and operations in the manufacturing industry.
Blockchain technology can also have an impact on different management areas, tracking and transaction reporting in the supply chain procedure.
This would be useful as it brings in more transparency and manufacturers can have a vigilant look on every aspect of the supply chain in real-time and also identify the problems at the very root-level.
Cloud has immensely become popular among manufacturers across the world. Most of the companies are under pressure to compete globally and increase their accuracy, processing speeds and as well as capitalizing on natural intelligence due to the kind of job they are in.
Using Cloud in modern manufacturing has helped the manufacturers and their employees by lightening the burden that they have been carrying over these years.
Deployment of Cloud-based strategies helps the companies to utilize their knowledge and latent intelligence for dealing with sales situations without going through the in-house systems’ proofs.
5. Complete Digitization
The future of manufacturing rests with full digitization in every key process that can be integrated on a single platform. Complete digitization ensures that manufacturers gain key insights regarding their schedules, operations, maintenance, etc.
An integrated system is also going to allow easy monitoring and management of production chains supported by higher precision. Digitization processes will allow the companies to organize, integrate and analyze their data.
6. Augmented and Virtual Reality
Virtual reality holds a wide array of applications for the manufacturing sector. Using VR, the technicians could gain knowledge about troubleshooting and repairing the manufacturing equipment.
The engineering teams in the manufacturing industry can use virtual reality for designing the blueprints and then perform testing without heavy investments on the materials.
In the near future, most of the manufacturers look to adopt VR for enhancing their processes, introducing newer perspectives and also improving the safety standards. With the combined effort of AR and VR technologies, they can be used for developing the skillset of the manufacturing industry.
7. Green Tech
Today a major population of the world has been exposed to the polluted air which has resulted in crises in health and environmental issues. All this calls for a techno-environmental solution to overcome these health complications.
By introducing green technology, we can provide better production for our future. All the green tech has been designed for minimizing the injurious and hazardous effects of chemicals released by the automobiles and factories.
Well, it is now clearly evident that the manufacturing companies are highly willing to use advanced technologies for improving their key processes. The use of technology also helps the manufacturing companies to reduce their operational and overhead costs.
Although, the companies are still looking to heavily invest in the above-listed technologies, for the manufacturing industries, investing for people still remains an indispensable part of their process.