By 2025, manufacturers and suppliers implementing Industry 4.0 tactics are expected to create $3.7 trillion in value, according to research by McKinsey and the World Economic Forum.
Fluid power management and control systems are just the latest in a long line of industrial technologies to see support from the Internet of Things. IoT is revolutionizing the hydraulics and pneumatics sectors.
Manufacturing is forecast to come roaring back in the second half of 2021, according to many leading indices. This is fantastic news for the US economy but poses significant challenges for the manufacturing sector.
The prioritization of M&A may already be underway. We know that despite some early reticence because of coronavirus uncertainty, industrial C-Suites still prize M&A activity as a main lever of growth, value creation, and competitive differentiation.
To better understand how manufacturing is transforming into a high-tech haven, it is important to examine the most promising technologies and applications in industrial automation.
Shutdowns are a big deal. From planned inspections to the inevitable unexpected repairs that'll crop up, without impeccable planning and controls the scenario can easily escalate into a logistical nightmare.
Trade publications offer significant benefits for manufacturers in need of boosting inbound leads and sales, fast.
The manufacturing industry is now left with numerous pandemic-created solutions that just might become standard practice in 2021 and going forward.
With a clear shift towards more digitally enabled roles and a growing need for more automation and/or robotics across all industries, this requires more skilled people within these environments.
Amid rising demand, warehouses have had to increase productivity, but keeping too many workers in a facility can be a health risk. By implementing more robotics, warehouses could artificially expand their workforce.
When CIOs are charged with digital transformation, it's often not as smooth a process as expected. Our newest report found that 78% of industrial professionals encountered underlying issues when they began implementing digital transformation.
AI in Manufacturing will help companies achieve higher productivity and cost effectiveness over a period. One of the major applications where AI is deployed in the manufacturing plants is Asset maintenance.
The manufacturing industry has been heavily impacted by COVID-19 and manufacturers are taking stock of the lessons learned, solutions identified, and technologies available to help weather the pandemic.
During the chaos, what emerged was the importance of embracing resilience and innovation to effectively manage each of these severe disruptions. What we all witnessed was a collective effort to make it through together.
As the country faces yet another surge of cases, manufacturers must do everything in their power to prevent outbreaks, keep their people safe and maintain operations. And the Internet of Things (IoT) can help manufacturers accomplish this lofty goal.
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