4 Manufacturing Technology Trends to Watch in 2021
The McKinsey Global Institute reports that U.S. manufacturers have the possibility to boost their overall value by up to $530 billion. That’s a 20% increase by 2025. In order to do so, the industry of manufacturers must take full advantage of the technologies that are coming out recently. In order to achieve those numbers, manufacturers must put aside their old processes and look towards technology in order to achieve the number above.
(Source: McKinsey)
So, what are the four trends you should look out in 2021? What are the exact trends that can help industries?
Additive Manufacturing
Additive Manufacturing is also known as 3D Printing. This is a practice that has become wildly popular and helpful within the past years for private label products. The advancement of additive manufacturing can assist with reducing the costs of energy, the limitation of waste products, and can increase production. With these technologies become more affordable, this is certainly a trend you should keep an eye on. As a business, you wouldn’t have to buy additional machines to try out this service. You can use a local service bureau to test out this technology before investing.
Collaborative Robots
Collaborative Robots are robots that are designed to work alongside humans. With functioning robots or “cobots” by your side, you can compete with other corporations and stay ahead of the curve. It’s predicted, by the Robotics Industries Association (RIA); that the sale on cobots will reach up to $34 billion by the year of 2026.
Smart Manufacturing
Smart Manufacturing is defined as “The practice of making information about manufacturing processes available when and where it is needed, in the form it is needed, so those smart decisions can be made about the course of critical business operations.” An example of Smart Manufacturing is Advanced Robotics. This is something that can truly help the production line in your manufacturing facility. By implementing smart manufacturing into your active business plan, you can increase your revenue as time goes on.
Workforce Development
People have been nervous about the implementation of technology in the workforce diminishing job opportunities. It is true that there are certain jobs that some people do that can be replaced by the use of robots. What this means though, is taking people out of the repetitive work and move them into a higher position, so that not only are you advancing your business but their career as well. You will need people to maintain the robots and ensure their efficiency, while you are making room for employees to find more fulfillment from their everyday jobs.
These trends that are happening currently in 2021 can be carried out to 2022 and beyond. There is no sensible reasoning to have the manufacturing industry remain stagnant. Technology is here and growing. It has the potential to expand the manufacturing business and turn the economy around for the better. Keep an eye on these four trends to grow your business and take a step forward into the future of manufacturing technology.
