Manufacturing industry trends 2019 (Graphic: Business Wire)
LONDON–Market intelligence company, Infiniti Research, has announced the completion of their recent article on manufacturing industry trends: what’s new in 2019? This article identifies the top manufacturing industry trends to expect this year and how these technological innovations will underpin the growth of the manufacturing sector.
By leveraging advanced manufacturing capabilities, manufacturers are benefiting from increased visibility into operations, substantial cost savings, increased speed in production times, and improved customer support. The future of manufacturing will continue to revolve around digitization and technological innovations that will revolutionize processes and strategies in the manufacturing sector. Furthermore, keeping a track of the emerging trends will enable manufacturers to gain a better understanding of the dynamic market and alter their strategies accordingly.
Manufacturing industry trends 2019
A manufacturing equipment breakdown could prove to be a costly affair for manufacturers – both in terms of repairs as well as the loss of productivity due to the downtime. In predictive maintenance, a number of performance metrics are used to monitor various equipment. Automating the data collection process using IoT technology helps manufacturers gain a better understanding of how systems work and when they are likely to fail.
The blockchain technology is now gradually taking the manufacturing industry by storm. In 2019, we can expect blockchain to be one of the most notable manufacturing industry trends. It can have a direct impact on several sections of the manufacturing industry including increasing speed, cost-effectiveness, and security. Blockchain technology will also play a major role in enhancing the management, tracking, and transaction reporting in the supply chain.
Reshoring or bringing back production operations into the United States is one of the key manufacturing industry trends to watch out for in 2019. There are several factors contributing to reshoring. Firstly, the increase in the standard of living of go-to offshoring countries is resulting in increased wages. Secondly, the countries that offer cheap labor do not have the infrastructure capabilities that are necessary to support the complex manufacturing processes. Today, one of the most notable manufacturing industry trends include automation for basic and repetitive processes, which is also a major contributor to the resurgence in reshoring.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-usTagged with industry, manufacturing, research