Since the start of the First Industrial Revolution, manufacturing has been one of the major reasons for transformation in the US. Today, we’re in the midst of another revolution, with newer technologies and equipment transforming the future of manufacturing in the US. The latest industrial machinery are outfitted with smart sensors to collect data in real-time data. And with substantial developments in the field of artificial intelligence, companies can now analyze the data effectively and identify gaps in their manufacturing processes.
Manufacturing companies of today are no longer just equipment makers, they are the thread that connects the entire lifecycle of a product.
At SpendEdge, we understand the impact of newer technologies on the future of manufacturing in the US. And to help manufacturing companies stay a step ahead of their peers, we have compiled a list of top manufacturing trends that will empower manufacturers to design intelligent operations and increase process efficiency.
Identifying new manufacturing trends and implementing a robust manufacturing strategy is a must for companies. Request a free demo and know how our experts can help you devise strategies that are vital for the future of manufacturing companies.
Key Trends Impacting the Future of Manufacturing in the US
#1 Future of Manufacturing: IT and OT Converge
In the past, IT provided top-down technology support for the management. However, over the last few years, the expansion of the Internet of Things (IoT), big data, and advances in connectivity have opened new avenues for intelligent manufacturing technologies. Today, data-optimized, smart machines can receive inputs from different sources – right from customer order data to production data – to enable agile manufacturing, increase production efficiency, and provide greater visibility into operational performance.
#2 Future of Manufacturing: Collaborative Robots (Cobots)
The use of robots in the US manufacturing sector is not new. They are built with artificial intelligence and machine learning and have powerful cognitive capabilities. These robots are advanced enough to use computer vision to quickly inspect large quantities of items for flaws, automate transportation process, and avoid hazards.
Cobots are primarily being used to reduce human labor. They take on dangerous, physically strenuous, and repetitive tasks, and make factories safer and efficient for their human counterparts. While many fear the loss of jobs due to cobots, market studies suggest that AI will only solidify the future of manufacturing sector by adding jobs to the market.
#3 Future of Manufacturing: The Servitization of Manufacturing
With markets becoming saturated with feature-rich products and costs being cut down to spur demand, customer-centricity seems be the new law governing the future of manufacturing. Exploring service-based models and adding services to their portfolio allows manufacturing companies to differentiate their offerings and gain a competitive edge over their peers.
In addition, digitization is also changing the way products are designed and the way manufacturing companies produce those products. This has led to the widespread popularity of Manufacturing-as-a-Service, where manufacturing companies can leverage a shared network of manufacturing infrastructure to produce goods.
#4 Future of Manufacturing: Intelligent Manufacturing
Developments such as IoT, cloud computing, and cognitive computing have resulted in the advent of concepts such as smart factories and intelligent manufacturing. Intelligent manufacturing combines self-monitored manufacturing processes with automated quality assurance processes. In this model, AI-enhanced computers detect anomailes and report on the status of manufacturing processes.
The most exciting outcome of intelligent manufacturing is its potential to transform the future of manufacturing companies and how they relate to partners at every level of their value chain. With Industry 4.0, manufacturing companies can expect better system integration, where firms, suppliers, and even customers are more tightly integrated. To gain more detailed insights on the manufacturing trends that will impact the future of manufacturing companies, request for more information.
#5 Future of Manufacturing: Advanced materials
Advanced materials include everything from super-strong composites and exotic alloys to bio-materials that can “heal” themselves and lightweight fabrics that can solidify with a single touch. Our studies show that the future of manufacturing will be dictated by computer modeling tools, which will allow manufacturing companies to design materials in a much more cost-effective way.
With the help of such tools, a manufacturer can determine required properties, such as conductivity and elasticity, and search for appropriate materials.