Future of Manufacturing to 2030 Market and Beyond - Exclusive Report by MarketsandMarkets™

Browse in-depth TOC on "Future of Manufacturing" 

90 – Figures
125 – Pages

Collaborative Robots Reshape the Future of Manufacturing, Enhancing Safety and Productivity.

Cobots are becoming popular in the future of manufacturing since they are compact, easy to use, and programmable with little formal programming. As per the analysis, working with robots cuts human idle time by 85% compared to teams that consist only of humans; cobots enhance efficiency in productivity and increase cost-effective automation within some sectors like automotive, electronics, and pharmaceutical. Performing well in jobs like welding, assembling, and quality control, they are solving the labor shortage problems for firms including Nissan and Betacom. Expectations raised by such massive acquisitions, such as ABB's USD 280 million robotics campus, point to cobot innovation as the key to flexibility, smart manufacturing, and manufacturing adaptability to the changes by 2030 and beyond.

AI Transforming Manufacturing into Smart and Dynamic Hubs

Artificial Intelligence is a relatively new phenomenon that is gradually transforming the manufacturing industry in terms of efficiency, innovation and intelligent operation that requires limited human interface. The National Associations of Manufacturers Survey reports that 39% of manufacturers are currently using AI, this technology is revolutionalizing industries in machinery, and aircraft components, among others. AI investments are expected to grow to USD 16.7 billion for every year this year and the coming five years increasing the efficiency of operations and modifying the tasks within industries. Some of these major strategies include the Cisco innovative USD 1 billion global fund, Microsoft's USD 3.3 billion investment in AI, NVIDIA-Foxconn and other formations influence and even revolutionize processes in the making and set standards of what is to come in the next future of manufacturing.

IoT and edge computing are set to transform manufacturing into smarter, more efficient hubs by 2030

IoT and edge computing are the driving trends that are changing manufacturing by providing constant monitoring of the equipment operation, utilization and state that is the basis for prescriptive maintenance, reducing the time inoperative and prolonging the life cycle of the machinery. The study has shown that these technologies can help to decrease equipment failures by up to 70% and maintenance expenses by 25%, besides improving efficiencies in energy utilization and manufacturing operations. For instance, Armal S.p.A., the Italian cement firm, realized a 40% energy cost savings for the machinery through IoT monitoring of power consumption, and Hershey slashed USD 0.5 million for every 1% decrease in candy size in every 14 000-gallon batch with IoT sensors. Furthermore, IoT is expected to be most adopted in China by 2030 and is expected to contribute up to 26 % of the IoT value due to government support and fast manufacturing development.

Rise of Micro Factories to Redefine Localized Manufacturing in the Modern Era.

Microfactories are now becoming the future of manufacturing a small to medium production modules having various technologies like AI, automation and machine learning, etc. These small-scale, portable, and cheap structures are even more effective than conventional factories, and they can produce and experiment quickly. Some examples of microfactories are Arrival, which uses robotic microfactories for electric vehicles, and GE Appliances, which uses small production sites to fast prototype products. Microfactories were estimated to represent about 15% of the total manufacturing potential in 2023 and will generate 4.5 million new positions by 2030. As microfactories can facilitate the localization of production, decrease costs, and accelerate time to market, these are upending the manufacturing industry and boosting local economies.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=57364955

The Impact of Cloud Computing and Decentralized Manufacturing on the Future of Manufacturing

Cloud computing and decentralised production are changing the face of manufacturing as these methods help in increasing productivity, flexibility and creativity. As per the analysis, 87% of management involves cloud solutions which assist such manufacturers as General Electric, Adidas and Tesla to organize better supply chains, improve production and increase customization. Cloud tech has been implemented in companies such as General Electric and Adidas to enhance operation as well as demand forecasting while Tesla has optimally utilised cloud in handling its production and resources. Spatial dispersion of production, it means more flexibility and insensitivity to disturbances in some location. As per AWS envisions in 2023, they spent USD 12.7 billion in India to enhance cloud infrastructure that would propel the nation's economy as well as create employment opportunities for the people. Such trends are useful in making the manufacturing firms achieve high production, low costs, and efficient responding to market shifts.

Asia Pacific's Technological Leap in Shaping Tomorrow's Factories

Asia Pacific is emerging to be a strong influential focal point in determining the identity of the factories in the near future as the manufacturing technologies advance. In the area, there have been observed indications of the increased application of artificial intelligence, machine learning, and Industrial Robotics, more so in the enhancement of effectiveness and reduction of time loss. South Korea is another example of a region that elevates the perception of smart factories by investing in smart and eco-friendly production technologies, while China has over 10,000 smart factories. India also leads efYYTforts such as SAMARTH Udyog towards deploying a smart manufacturing environment. An endowment by world-class tech players like NVIDIA, AWS, and Oracle is also adding to the base of the region's infrastructure, making the Asia Pacific one of the important catalysts of change in the global manufacturing landscape.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=57364955

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/future-manufacturing.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/future-manufacturing.asp

View original content:https://www.prnewswire.co.uk/news-releases/future-of-manufacturing-to-2030-market-and-beyond---exclusive-report-by-marketsandmarkets-302331136.html