Capgemini: Smart factories could add $1.5trn to global economy

Source: Manufacturing Global
10/13/17, 05:32 AM | Automation & IIoT, Additive & 3D Printing | Research and Reports, Smart Factory

Jonathan Dyble for Manufacturing Global:  In its latest report, multinational consultancy firm Capgemini predicts that smart factories are set to become revolutionary within the manufacturing industry.
The report found that smart factories could add anywhere between $500bn to $1.5trn in value to the global economy over the next five years, as firms increasingly look to digitise their operations in order to stay ahead of the game.

“Manufacturing under Industry 4.0 has access to digital technologies such as the Internet-of-Things, Big Data Analytics, Artificial Intelligence, Advanced Robotics, 3D printing, and Cloud Computing that have opened the door to incredible gains for early adopters,” Capgemini stated.

Currently, only 6% of manufacturers can be classified as ‘digital masters’. This, combined with the fact that as many as 76% of manufacturers currently have a smart factory initiative whilst only 14% of these are satisfied, suggests that the market for smart factories is set to explode within the next decade.

Business expectations are also likely to act as a driving factor, with manufacturers expecting on-time-delivery to accelerate by 13 times compared to 1990.

The potential benefits that would be available to businesses are countless, with the likes of IoT, big data analytics, AI, robotics, 3D printing and cloud-based computing services all paving the way for success.  Full Article:

More Automation & IIoT Stories | Articles | News

Comments (0)

This post does not have any comments. Be the first to leave a comment below.

Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Supply Chain Management by Elisa IndustrIQ

Supply Chain Management by Elisa IndustrIQ

Elisa IndustrIQ's Supply Chain Management (SCM) solution is designed to enhance productivity, efficiency, and effectiveness throughout the entire supply chain. This advanced solution focuses on improving flexibility and responsiveness in both planning and operation execution, crucial for adapting to rapidly evolving markets. Our solution facilitates business growth by offering end-to-end visibility, essential for efficiently managing and streamlining supply chains. Key features include AI-powered demand forecasting, automated quoting and purchasing, intelligent replanning capabilities, structured collaboration tools, and direct supplier integration. These features can be tailored to align with your business and financial objectives, adding a strategic dimension to sales and operations planning and execution. The solution is designed to meet the manufacturing industry's needs for speed, resilience, and efficiency, primarily through innovative approaches to reduce business friction.
More Products
Feature Your Product