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Growth Opportunities in Smart Manufacturing

  • Report

  • 70 Pages
  • November 2022
  • Region: Global
  • Frost & Sullivan
  • ID: 5693456

Quick Summary:

In a constantly evolving technological landscape, advanced digital manufacturing technologies are becoming the backbone of various key industries. These novel methodologies, juxtaposed with disruptive applications like 3D printing, advanced robotics, the Industrial Internet of Things (IIoT), and data-driven technologies, inherently alter the course of manufacturing, while orchestrating an extensive transformation in product design. Industries are turning to these powerful, innovative solutions to bolster their operating profits and engrain sustainability in their manufacturing practices.

Pertinent factors including data technologies and analytical methods delineate this new transformation wave, reshaping manufacturing into an increasingly automated and self-reliant entity. Accelerated by artificial intelligence (AI), intelligent automation is now driving productivity in industrial operations. Yet, the monolithic architecture that prevails in manufacturing software development poses major limitations due to its complexity and rigidity.

With the pursuit of business agility and flexibility becoming more crucial, the need to transcend the limitations of monolithic architecture has increased. Stepping into the future, Augmented Reality (AR) technology offers a way forward, simplifying intricate processes by providing the right information at the right time. AR catalyzes an immersive experience, bridging the gap between the cyber-physical IoT and the real world, offering a composite environment in real-time. By integrating AR technology into their operational processes, manufacturers can effectively enhance productivity, reduce costs, and reshape the face of manufacturing.

Disruptive Factory Automation Technologies Help Manufactures Successfully Combat Internal Challenges

With the advent of Industry 4.0 and smart factories, digital manufacturing technologies have been experiencing exponential technological growth. Disruptive technologies are playing a vital role in the revolutionary transformation of many key industries, such as aerospace, automotive, industrial automation, healthcare, and oil and gas. 3D printing, advanced robotics, IIoT, and many data-driven technologies are not only redefining manufacturing but also fundamentally reshaping product design.

Industries and manufacturers have adopted these transformative technologies to achieve maximum benefit, in terms of operating profits and achieving sustainability in manufacturing. Data technologies and data analytics define the entire new transformation and revitalization of manufacturing and make it a highly automated and self-sufficient entity. Artificial intelligence (AI) technologies drive intelligent automation and serve as a catalyst that increases productivity in industrial operations.

Monolithic architecture is prevalent in industrial and manufacturing software development and deployment. Rigid and complex, a monolithic application is a large code repository where changes or updates require manual installation and scheduled downtime. Patches released during the release cycle can take months. A single failure can affect the entire application, and the system must recover completely to resume operations.

In increasingly changing and digitalized business environments, business agility and flexibility have become pivotal and rendered monolithic architecture inadequate. AR technology simplifies complex processes by placing the right information in the right place at the right time. It also bridges the gap between the cyber-physical IoT and the real world and creates a composite environment in real time.

Manufacturers are implementing advanced AR technology into their shop floor and assembly processes, to reduce cost, increase efficiency, and improve overall production; this trend is changing the face of manufacturing. AR superimposes holographic images and merges them with the real world and enables workers to identify effective ways to enhance the product design process.

Table of Contents

1. Strategic Imperatives
  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Mega Trend Universe - Overview
2. Executive Dashboard
  • Growth Opportunities Fuel the Growth Pipeline Engine™
  • The Mega Trend Universe - Smart Manufacturing
  • Key Findings
  • Growth Opportunities Vital to Future Success
3. Strategic Context
  • Global Manufacturing Output Forecast - An Overview
  • Changing Dynamics of the Manufacturing Industry
  • Reimagining Manufacturing and Smart Factories in 2030
  • Smart Factory - A 4IR Production Environment
  • Enforcers that Call for Adoption of Smart Manufacturing
  • Automation Levels in a Smart Factory Setup
  • Growth Prospect of Global Factory Automation
  • Characteristics of 4IR-based Smart Manufacturing
  • How 4IR Revolutionizes Manufacturing
  • Technology Drivers for Smart Factory Environment
4. Industry Best Practices
  • Case Study: Data Analysis from Industrial Sensors
  • Case Study: Robots Helping in Factory Automation
  • Case Study: Virtual-reality-based Production
  • Case Study: Predictive Maintenance
  • Case Study: In-factory Autonomous Vehicles
  • Case Study: Blockchain Helping with Vendor Management
  • Case Study: 3D Printing for Lightweight Components
  • Case Study: Flexible Manufacturing
  • Case Study: Advanced Computer Vision
  • Case Study: IoT Platform Assists Human Operators
  • Case Study: Equipment Monitoring
  • Case Study: Assembly Line Automation
  • Case Study: Cobots
  • Case Study: Blockchain-driven Digital Provenance
  • Case Study: Precision Additive Manufacturing
  • Growth Drivers
  • Growth Restraints
  • Trend Opportunity - Attractiveness Analysis
5. Trend Impact Analysis
  • Trend Opportunity Impact and Certainty Analysis
  • Trend Opportunity Disruption Index
  • Trend Disruption Attractiveness Score
  • Trend Opportunity Growth Index
  • Growth Attractiveness Score
  • Trends Beets Implications
6. Growth Opportunity Universe
  • Growth Opportunity 1: Automation to Reduce Waste-related Losses
  • Growth Opportunity 2: Automation to Assist Manufacturing-to-zero Initiatives
  • Growth Opportunity 3: Automated Microfactories-as-a-Service Model to Empower SMBs
  • Vital Success Factors for Growth
  • The Way Forward
7. Next Steps
  • Identifying Your Company’s Growth Zone
  • Your Next Steps
  • About the Growth Pipeline Model™
8. Appendix
  • The Mega Trend Universe
9. List of Exhibits