5 Manufacturing Trends You Need to Understand In 2023
The manufacturing industry has been going through some significant changes in recent years and is predicted to continue growing. Over the next decade, nearly 3.5 million new manufacturing jobs will be created, but the skills gap will prevent two million of those jobs from being filled. Additionally, as more and more people have been going digital, several new trends have emerged. These innovations will soon become mainstream, so it is essential for anyone working in the manufacturing industry to understand the following five trends.
Globalization
Globalization is one of the most critical manufacturing trends in the next 10 years. More and more companies are now creating products internationally, which has led to an increase in exports and limited reshoring. This trend will only continue as international sales continue to grow. Some parts of the industry have seen this trend decrease manufacturing jobs because these companies are outsourcing work to lower-cost locations like China or Mexico.
Automation
The manufacturing industry is expected to see a rise in automation. Manufacturers invest heavily in robotics and automation technologies as they anticipate more efficient processes and better quality outputs. This trend is predicted to continue, with over 70% of manufacturers expecting an increase in automation by 2030. The increased use of automation will significantly improve efficiency for businesses, which will result in less waste and higher revenue.
Self-Manufacturing
Self-manufacturing has been rapidly growing because it is more cost-effective for businesses. With self-manufacturing, companies avoid the costs associated with hiring a manufacturer and paying for shipping. This trend will continue to grow in importance as more people turn to outsourcing strategies to maximize their profits.
Industry and Government Collaborations
Industry and government collaborations are becoming more commonplace. Governmental collaboration with industry is a trend that is already taking place. For example, the United States Federal Government’s Manufacturing Extension Partnership (MEP) helps small businesses with grants and other resources. The MEP supports companies with expertise in manufacturing technology, material science, and innovation. These collaborations will continue to grow in both industries over the next five years.
Technology and Science
The manufacturing industry will continue to rely heavily on technology and science. To be competitive globally, companies need to make their products more innovative and efficient. This is going to be accomplished through automation, robotics, and digitization.
It is wise to understand and observe manufacturing trends, as they will shape the world we live in. Consider keeping yourself up to date on the current trends in 2022.
FAQs
Emerging technologies such as robotics, automation, artificial intelligence, and the internet of things will continue to be at the forefront of the manufacturing sector, as well as industry 4.0 processes such as cloud computing and data analytics.
AI is increasingly being used in manufacturing to automate processes, reduce waste, and increase productivity. In 2023, we can expect to see more AI-driven technologies such as cognitive computing, sentiment analysis, and machine vision being implemented in the manufacturing sector.
Cloud computing allows manufacturers to store and access data in a secure, cloud-based system, allowing them to become more agile and efficient in their processes. In 2023, we can expect to see an increase in cloud-based services and solutions being used in manufacturing.
In 2023, we can expect to see the emergence of new technologies such as blockchain, autonomous robots, and advanced data analytics, which will be used to increase efficiency and help make better decisions.
3D printing has seen a surge in popularity in recent years, and this trend is set to continue in 2023. 3D printing will be increasingly used for rapid prototyping, custom manufacturing, and distributed manufacturing.
Automation has already had a major impact on the manufacturing sector, and this trend is set to continue in the years ahead. In 2023, we can expect to see advances in automation that deliver improved efficiency, quality, and cost savings.
The Internet of Things is connecting devices to the internet, enabling them to communicate and exchange data. In 2023, we can expect to see more connected manufacturing systems, allowing manufacturers to optimize and streamline their processes.
Industry 4.0 is the fourth industrial revolution, and it is rapidly changing the way manufacturing is done. In 2023, we can expect to see more manufacturers using Industry 4.0 concepts such as cloud computing, data analysis, and predictive analytics to increase efficiency and reduce costs.
In 2023, manufacturers can capitalize on emerging opportunities such as connected product services, additive manufacturing, and augmented reality. By taking advantage of these emerging technologies, manufacturers can create new revenue streams and gain competitive advantages.
Robotic systems have already been increasingly used in manufacturing to reduce production costs and improve repeatability. In 2023, we can expect tougher and smarter autonomous robots with improved manipulation capabilities and navigation, which can improve quality, accuracy, and speed of production.
