For example, someone with access to the controls of a chemical, petrochemical or refinery industry could nudge their equipment into a 3,000-degree bomb. The global Connected Worker market is expected to reach USD 8.9 billion by 2026, according to Polaris Market Research. 14 Manufacturing Trends in 2020 1. Indeed, the Engineering Employers' Federation (EEF) found almost half of manufacturers (45%) said they experienced a cybersecurity incident. Do you have a story to tell? In its own way, each trend is set to affect the manufacturing industry - both this year and beyond. Here, we’d be looking at the most important trends that will lead the manufacturing industry in the coming years. Customers expect to be closely involved in the manufacturing process and to have ever more customization options. This time, we’re fighting a common enemy that has no face. Drivers for growth can be traced to a dwindling labor force and heightened labor costs that are partially, if not totally, resolved by the growing sophistication and appeal of automation. It’s likely that local, distributed manufacturing is only going to become more popular in 2020. These trends largely revolve around digital transformation that can give manufacturers increased visibility into operations, quality, cost savings and efficiency. Submit a brief synopsis on the background of your company, your successes and your plans for long-term growth for review by our Editorial team who will contact you to discuss the project further. This global pandemic is causing businesses to adapt quickly to fill demand and do their part to help. In fact, innovations in this field have almost halved costs, while delivering twice the performance. You can disable cookies through your browser's privacy settings. We will follow up with you as soon as possible to talk about what Industry Today can do about your needs. 2020 Manufacturing Industry Trends. Looking at manufacturing trends in 2020, a digitally connected workforce, growth in spending on emerging technology, faster wireless connectivity, and the resulting effects from the COVID-19 are among the top trends to look out for this year. Internet of things (IoT) The arrival of the Internet of Things is revolutionizing all sectors. It is expected to have a huge and positive effect on smart manufacturing. Six significant innovations that will lead the manufacturing industry by 2020 1. Over the next five years, the Big Data market in the manufacturing industry is expected to reach USD 4.55 billion from 905 million in 2019 - that´s a CAGR of just over 30%, Mordor Intelligence also noted. Indeed, 5G underlies each one of the top manufacturing trends for 2020, prompting TechWire Asia to declare: ¨It’s something manufacturers should give serious thought to. James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. Research from MPI Group found nearly 70% of … Using small-scale, distributed manufacturing allows companies to save on freight costs, reduce lead-times, and increase responsiveness. You have the ability to learn so much about your customers in 2020, but you’ve got to embrace that ability and use it to improve the customer experience. 1. Babson college, in collaboration with Toyota, structured a FutureLab to help students test virtual reality, artificial intelligence and other innovations. Manufacturers are also adding new suppliers who … Looking at manufacturing trends in 2020, a digitally connected workforce, growth in spending on emerging technology, faster wireless connectivity, and the resulting effects from the COVID-19 are among the top trends to look out for this year. After all, in their list of the 50 Best Jobs in America, Glassdoor mentions Data Science and Development Engineering as two of the fastest-growing and most lucrative careers for 2020 and beyond. So, let’s check out some Industrial IoT trends to look out for in 2020. In its own way, each trend is set to affect the manufacturing industry - both this year and beyond. We can’t talk about the future of manufacturing without mentioning the novel coronavirus that has been disrupting all spheres of our lives. All the while, customers want less waste and lower cost. According to Business Wire, Quantzig Analytics, a global data analytics and advisory firm, found that wearable technology in manufacturing has both impacted and triggered advancements in innovative technologies, including IoT, DS, Blockchain, Big Data Analytics, and Cloud. Also, a study by Business … Major car companies such as Ford and GM are switching production to make ventilators, while distilleries like Labatt are now making hand sanitizer. Here are 5 trends to look out for in manufacturing for 2020. Technology has allowed for a much more collaborative relationship between companies and customers, but you have to be able to use this technology effectively. However, while the progress might be slow, it’s only going to go in one direction, and that’s towards the ubiquitous use of these technologies. Automation is made possible with easy … Although things have slowed down a bit, there are some industry-specific predictions that are still grabbing headlines. ¨Manufacturing,” Mordor Intelligence noted, ¨is one of the most targeted industries by cyber attackers, owing to the presence of vital data related to company and government.¨. That’s because of the growing number of the elderly, the number of diseases and pandemics. The more complexities your company faces, the greater the opportunity to use these technologies to get that competitive edge you need to succeed. Thanks to the digitization of manufacturing, a growing number of small to mid-size and large companies turn to cyber security experts for guidance on how to secure their online data. 5G Technology 5G is a popular topic in the manufacturing industry, and expect to hear a lot about it in 2020. FREMONT, CA: Both the pressing and long-term future of the manufacturing industry will be defined by the expansion of several ever-changing and cutting-edge trends and technologies. The sectors driving this more positive outlook are food and beverage machinery, robotics, packaging machinery and material handling equipment. MANUFACTURING INDUSTRY TRENDS 2020 By The CEO Magazine Last updated Sep 9, 2020 Similar to every other industry, in 2020, the manufacturing industry was set to travel on the path of growth but it was also put on the standstill as the entire economy. 2020 is the year we are likely to see the much talked about 5G to be rolled out on a much larger scale, and it is expected to have a big impact on smart manufacturing. More specially, manufacturers estimated they would spend around $748,037 on assembly technology in 2020 - that's a contrast to the average of $150,000 in survey history. In the short term, this is an incredible solution to a much-needed shortage, but what does this mean for the future? But the magnitude of this unprecedented crisis has yet to be fully realized or manifested. Industry 4.0 gains footholds Industry 4.0 remains a popular topic when discussing the current and future state of manufacturing, and it will continue to make inroads in 2020. Here are some trends you need to look out for this 2020. The data infographic on manufactured housing industry trends provides a quick, graphic overview of the state of the industry. Google+. “What are the main trends in manufacturing in Korea for 2020?“ HANNES HUMALA: Overseas investments for the manufacturing base; the best example is Samsung Electronics who has two (2) major plants in Vietnam which pump out a third of the whole company’s global production. Over 2020, 5G (or fifth-generation wi-fi), with its augmented latency, scalability, and improved connectivity, is poised to affect every field in the manufacturing industry, making Industry 4.0 logistics and operations faster, smoother, more reliable - and cheaper too. Here are some trends to watch out for in 2020. You’ll surely see a lot of them around this time of year. The next decade will be wrought with technological change across the manufacturing industry. Though the Internet of Things (IoT) is becoming a more common, widespread technology in the manufacturing industry, it remains at the top of trends lists year after year for its adaptability and innovation — and this year is no exception. Operating a big business in such an uncertain climate, it’s essential to be able to react quickly to change and minimize disruptions. Applications include helping manufacturing sectors identify opportunities, optimize logistics and supply chains, streamline their operations and secure their digitized data. Meanwhile, according to Manufacturing Business Technology, Forrester predicts that by 2025, 14 million workers will don smart wearables, such as smart glasses and smart helmets to improve their performance. “Automation for all” is the next step in the industry. While the increase in expenditure is barely significant - on average only a five percent increase - the report indicates a definite pattern of positive growth over the last 10 years (variously peaking over 40 percent). Manufacturing Trends, 2020 and Beyond. Those are the Internet of Things (IoT), artificial intelligence (AI), 3D printing, advanced robotics, and wearables. As noted by Industry Week, Robotics Industries Association has noticed that its collaborative robots - robots that work side-by-side with humans, show the biggest uptick, followed by IoT (i.e. This is where workers connect to each other and to their physical and virtual environments through smart wearables, such as smart glasses, wristbands, tablets, and sensor-equipped personal protective equipment. Meanwhile, companies in the manufacturing industry are still expected to adhere to data privacy regulations both in the US and abroad. The more technology allows those individual factories to be interconnected, the easier implementing distributed manufacturing becomes. Looking ahead to 2021, the recovery may take longer to reach pre-pandemic levels, as Deloitte projections based on the Oxford Economic Model (OEM) anticipate a decline in annual manufacturing GDP growth levels for 2020-2021, with a forecast of -3.7% for 2020 and -5.4% for 2021. From the rise in sustainability requirements to the growth in “as-a-Service” business models, 2020 stands to be one of the most interesting years in manufacturing yet. At the same time, the energy savings and cost reductions of 5G will make IoT devices more widely used. Our digital media platform offers many opportunities for promotion through independent advertising in the digital magazine, banners, sponsored articles, sponsored content in our Resource Center and independently authored content. WhatsApp. Pinterest. Out of these, 5G and IoT innovations are set to expand the most, with China, Japan, and South Korea dominating the industry. Marketwatch expects the market to reach $2.6 billion in 2023 - that´s almost double its yield of six years ago! 2019 Hype Cycle for Manufacturing Operations Strategy. While its initial pace may be slow, 5G is after all expensive. 3D Printing is a much talked about digital transformation technology in the manufacturing industry. 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