Emerging Trends In The Manufacturing Industry And Machinery Sector

The manufacturing and machinery trends have changed their dynamics during the global pandemic. Innovation and technology have proved to be a catalyst in the growth and development of the manufacturing and machinery sector. The second wave of COVID-19 has forced the manufacturing industry to increase the involvement of technology when the human workforce seems to be disappearing in most of the sectors and fields, at least for the next one year.

Over the past decade, India has invested significantly in science and technology and witnessed an increase in the country's share of global patents. Research has shown that the Indian government plans to raise the domestic manufacturing sector's share to 25% of GDP by 2022. Indian firms have displayed greater willingness in spending on R&D. There are countless new trends emerging in the food manufacturing industry as well, it covers a wide range – from simple to complex. The numerous trends have played an important role in the food manufacturing industry and allowed them to evolve and perform with excellence.

Here are the latest trends in the manufacturing industry and machinery sector that will bring about a new revolution and influence the speed and ease of doing business through connected operations, driving business success today and in the future:

Rise of IoT

The Internet of Things (IoT) is tremendously helping manufacturers monitor and connect the various components of their operations, which further promotes gaining an insight like never before in history. 41% of manufacturing organizations make use of sensor data in their daily execution. Using smart sensors and cloud connectivity powered by the internet, IoT is increasing the speed and advancement of the industry. The fact that connected ness gives manufacturers precious data that enables manufacturers to optimize, change and improve all facets of the manufacturing process.

A smart transition from B2B to B2C

In recent years, companies have shifted their focus from B2B (business-to-business) to B2C (business-to-customer) model. It has numerous benefits, Increased profit scale, Brand control, Improved customer data, price control, etc. Companies can easily get the full manufacturer's suggested retail price (MSRP) rather than wholesale prices for their products. B2C removes the risk of the manufacturer’s brand being misrepresented by third parties.

Manufacturers can rapidly prototype, push products to market, test, giving them a distinct competitive advantage. Furthermore, Manufacturers can get better customer data, selling directly to consumers enables them to collect customer data that ultimately results in increased sales, better products and stronger relationships.

More Focus on Sustainability

Over the years, the manufacturing industry has witnessed an impressive leap. Gradually, it has made its way into the food industry as well, covering and affecting segments like packaging and production of food and beverage items. In the 21st century, consumers are more willing to pay a premium for products that are in no way harmful to the environment.

As a consequence, industries have shifted their attention and priorities by changing their practices to a more conscientious approach concerning where the ingredients come from, the kind of packaging they use, and what impact it will leave on the planet overall. Now there is a major transformation in the outlook of consumers and industrialists, they are ensuring that ingredients come from sustainable sources and packaging that does not harm the environment in any way.

Use of AI & Machine learning

Artificial Intelligence (AI) is one of the major emerging trends in the manufacturing industry, which generally refers to a computer system’s ability to recognize trends and suggest logical conclusions that immensely help manufacturers make data-driven decisions. Now the companies have access to data more than ever before, and thus AI is leaving its major impact on the manufacturing industry by helping them improve many aspects of manufacturing operations such as Supply chain visibility, inventory management, transportation cost reduction, warehousing cost reduction, asset tracking, etc.

Collaborative Robots (Cobots)

Introducing the concept of Collaborative Robots (Cobots) has helped manufacturers escalate their manufacturing efficiency and wisely address the concerns regarding possible negative impacts on the workforce. The whole concept of Collaborative Robots is to build robots for the human workforce and use them as a valuable tool that helps improve overall efficiency at the workplace.

Impact of 3D Printing

3D printing is one of the major emerging trends in manufacturing which has transformed the over-expensive as well as time-consuming process of tooling. Earlier, it used to take months for the manufacturers to create the jigs, molds and fixtures necessary for the mass production of heavy machinery or equipment. Now, the scenario has changed, all thanks to 3D printing which has given the manufacturing sector a boom and made the months’ process a matter of a few days.

Innumerable milestones have been achieved with the technology being an integral part of the manufacturing process. Advancement in technology has helped the industry in making improvements and per-forming better than ever. By focusing more on new technology, like the usage of block-chain, food manufacturing companies are taking advantage of it and increasing their efficiency, transparency, and last but not the least, a collaboration of every individual involved in the manufacturing and machinery sector.

Summing up

Looking ahead, the second wave will change the manufacturing landscape forever; it will further add critical and revolutionary steps in the emerging trends. Today’s manufacturing industry and machinery sector are way beyond ordinary machinery and labor, it is more intuitive and exceptional than ever. Industry 4.0 is shorthand for the upcoming and fourth industrial revolution.

The forward-thinking strategies and many of the emerging trends will make Industry 5.0 a successful mission. Now companies are looking forward to staying relevant, competitive and thriving in the marketplace. Keeping up with the new trends in the food manufacturing industry and machinery sector will help companies to grow and flourish post-pandemic and in the future years as well.