It is time for businesses to evaluate the opportunities and solutions that are available to build an entirely digitized manufacturing floor. Companies across the industry are investing in technologies to improve their capabilities and speed to market, and developing their abilities and processes.
FREMONT, CA: The year gone has offered plenty of opportunities for manufacturers to digitally transform their operations. Those technology innovations bring more significant insights and mobility and are at the top of business wish lists. Indeed, the surge in automation solutions has seen the global enterprise application integration market rise to nearly $5bn in 2017 and is expected to reach over $11bn by 2023 says a report. Each year is bringing new technologies that are used to create smart products which meet customer's ever-increasing expectations.
1. Smart Machines
Manufacturers are concerned not only about curating personalized products to satisfy customer demand, but having competitive prices. For that, each step from the production stream matters and influences the production costs. To survive in the competitive world and attract more customers, manufacturers are shifting to a product development approach centered more on software and technology.
2. Real-Time Monitoring
Real-time tracking is bringing plenty of benefits to the manufacturing of today. It improves scheduling accuracy and creating better levels of inventory control. With real-time monitoring, manufacturers can enhance the performance of the production plan. The future looks optimistic for real-time monitoring as it will help the domain a lot in making inventory reconciliation more efficient.
3. Industrial Robots
2019 is going to be the year which brings collaborative robots in manufacturing landscape. Robots are seen as an extra pair of hands, increasing the capabilities of existing workers and reaching zero errors in the manufacturing process. Collaborative robots can be programmed through hardware and software to do different jobs. Manufacturing can finally rely on a mix of human and robotic labor, which will reflect in ROI.
4. Analytics and Business Intelligence
Analytics and business intelligence will continue to penetrate the manufacturing industry, helping businesses increase their production capacity and create better resource planning. Thanks to business intelligence, Businesses can easily anticipate problem areas and collect relevant data for business growth through BI and analytics can provide more accurate financial visibility into shop floor production.
The above stated technology trends are all set to define the next decade of the manufacturing sector.