Industrial Manufacturing Industry Trends
Industrial manufacturers are focusing on increasing operational efficiencies and reduce cost with smart and innovative products manufactured using the most advanced technologies available to beat the tight competition
Smart Products
- Increased focus on products with cutting edge technologies, IoT capabilities, and integrated machine learning technologies, and this industrial manufacturing industry trend will continue to grow over the next five years
- More software and firmware will be embedded in products to provide new features and functionality, enable digital capabilities, or replace existing physical capabilities through automation
Increasing digitization and automation
- Industrial manufacturers continue to automate large-scale processes and enhance execution speed by building a backbone of embedded intelligence
- Industrial manufacturers are expanding their traditionally physical product portfolios by introducing digital products and service offerings
Global customer base and products for emerging market
- Emerging markets are transitioning from a low value to a high value economy
- Players are forced to adapt their products to meet the requirements of an economy in transition making the product design and development process very complex
Improve Product Innovation and Operational Efficiency
Develop High Quality Products Devices Faster
- Avoid late stage ECOs – Designing first time right, avoid downstream manufacturability issues and rework
- Improve Time-to-Market
Be efficient in R&D and Product Development to Acclimatize Increasing Product Complexity and Bringing in Innovation
- Knowledge capture & standardization at industrial manufacturing organizational level resulting in continuous process improvement and reuse
- Scalable framework for capturing and disseminating manufacturing knowledge upstream
Industrial Manufacturing Operational Efficiency
Improve collaboration with global suppliers and Operational Efficiency
- Capture supplier capabilities and Improve design collaboration between departments, suppliers and vendors
- Efficient communication with suppliers and vendors help in improving time-to-market
- Sharing real-time usage data with Manufacturing partners or suppliers to unlock innovation