Tech-tonic shift in manufacturing landscape

Sectors are undergoing massive technological transformations, with manufacturing being one of them. Future societies are going to be highly technology-driven with digital intelligence, interconnected devices, and data analytics impacting people’s lives positively. Therefore, the manufacturing of the Internet of Things (IoT) will occupy a considerable market share in 2021 as companies look for newer and better systems of interconnected computing devices that can be easily controlled without human intervention and can collect and transfer data over wireless networks. In fact, over 20 billion IoT devices will likely be used globally by 2020, and the IoT market revenue will grow to around $1.6 trillion by 2025.

5G, an advanced wireless technology providing a durable solution of Internet connectivity for smart devices and the seamless transfer of unlimited data, is currently leading the global technological transformation. It offers manufacturers a chance to build digital factories and creates new revenue streams by making the most out of automation, artificial intelligence (AI), and IoTs for smart production, troubleshooting, centralized tracking, quality inspection, and much more. 5G is partially available in 34 countries, including China, the UK, the US, and UAE, and will revolutionize the manufacturing sector in the coming years, along with IoT.

Generative design and 3D printing will also completely change the landscape of manufacturing. Through AI and cloud computing, generative design software can come up with thousands of practical solutions, which is beyond human imagination. 3D printing can even help mass production of these computer-aided designs by creating three-dimensional objects at a low cost and faster speed. The two main advantages manufacturers will get from 3D technology are the decrease in reliance on third parties for supply and the ability to test and troubleshoot products before mass production and produce parts on demand. Generative designs and 3D printing technologies are also helpful to smaller manufacturers, allowing them to reduce costs, material consumption, and production time while improving their profit margins.  

With technology playing a dominant role, the global manufacturing landscape will witness a drastic change soon. Thus, developing countries will soon lose their edge unless they invest in creating a strong digital infrastructure and equipping the workforce with skills to work with new emerging technologies. The concept of offshoring is now changing to reshoring with the rising demand for higher-skilled workers and sophisticated systems and infrastructure, and developed countries, such as the US, Europe, and East Asia, are making massive investments in Industry 4.0 technologies.

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