The report examines the technology by software, hardware and networking elements, all of which comprise the IoT system. Software is forecast as the fastest growing market (31.0% CAGR) over the next five years; although hardware currently has the largest installed base.
The U.S. and China Invest Heavily in Industry 4.0 Technologies to be the World's Largest Manufacturer
The United States, the world's second largest manufacturer, with a 2017 industrial output reaching a record level of $2.2 trillion, will apply Industry 4.0 technologies to replace China as the world's largest manufacturer.
Industry Week: A new McKinsey report predicts that manufacturing GDP would climb to $3 trillion in real terms by 2025-a boost of some $530 billion, or 20%, above the current trend.
Purvai Dua for London Loves Business: Britains manufacturing sector could add Â£455bn over the next decade and create thousands of jobs if it unlocks the fourth industrial revolution
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.
Phys.org: Although additive manufacturing has been around since the 1980s, the technology has advanced rapidly over the past few years.
Louis Columbus for Forbes: Smart factories are revolutionizing manufacturing by enabling a 7X increase in overall productivity by 2022.
Sculpteos 3rd annual report on 3D Printing and Digital Manufacturing
Angela Monaghan for The Guardian: Expanding hi-tech manufacturing is vital to the UK staying competitive, says Siemens UK boss Juergen Maier
Xometrys Small Manufacturing Index finds fewer shops anticipating growth
Binghamton University for R&D Magazine: A team of researchers from Binghamton University, State University of New York and MIT have identified some bottlenecks in 3D printers, that, if improved, could speed up the entire process.
The prevailing narrative says automation was the main culprit behind U.S. manufacturing job losses in the early 2000s, and that automation is now powering an unprecedented manufacturing technology revolution that will continue to displace jobs. But a new report from the Information Technology and Innovation Foundation (ITIF) finds that both of these claims are false. ITIF, a leading tech-policy think tank, finds that trade pressure and faltering U.S. competitiveness were responsible for more than two-thirds of the 5.7 million manufacturing jobs lost between 2000 and 2010. And rather than entering a "fourth industrial revolution," U.S. manufacturing productivity growth is actually near an all-time low. In light of these facts, ITIF concludes that U.S. policymakers should aim to close the country's trade deficit in manufactured goods by fighting foreign mercantilism and pursuing a national competitiveness agenda that hinges in part on boosting manufacturing productivity rates. The report estimates that successfully closing the manufacturing goods trade deficit this way would create 1.3 million jobs. Full Press Release:
Dustin Walsh for Crain's Detroit Business: U.S. manufacturers are rapidly boosting investment in advanced digital technologies, according to a survey to be released Monday by Troy-based technology business association Automation Alley. The survey coincides with the association's 2017 Technology Industry Outlook event on Feb. 13 at the Detroit Institute of Arts. Nearly 400 manufacturing and technology business leaders are expected to attend. According to the survey, 85 percent of U.S. manufacturing executives responded they plan to increase existing budgets for new technologies, with nearly a third planning to increase budgets by up to 15 percent. More than half of the respondents said they have a dedicated budget to technologies described as Industry 4.0, with the top three being cloud, cybersecurity and data analytics. Cont'd...
Jeffrey Bartash for MarketWatch: American manufacturers finished 2016 on a wave of optimism, as a survey of executives hit the highest level in two years. The Institute for Supply Management said its manufacturing index climbed to 54.7% in December from 53.2%, slightly higher than the MarketWatch forecast. Any number above 50% signals expansion. The index is compiled from a survey of executives who order raw materials and other supplies for their companies. The gauge tends to rise or fall in tandem with the health of the economy. New orders and production surged in the final month of the year and plans for employment also edged higher. Bradley Holcomb, chairman of the ISM survey committee, said comments from executives were largely positive. Cont'd...
Katie Mallinson for B Daily: 2017 could be the year of the smart factory. That’s the opinion of Huddersfield-based YCF – the not-for-profit organisation committed to supporting the manufacturing industry and its supply chain. The statement follows months of speculation around Industry 4.0 – the idea of automation and data exchange in manufacturing technology. Simply, it’s the computerisation of manufacturing, involving systems that communicate with each other, monitor physical processes and make decisions. And YCF’s CEO Jill Mooney thinks that 2017 could be the year that manufacturers start to plan the implementation of such machinery. Cont'd...
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