The landscape of the manufacturing industry is changing: can you keep up?

The manufacturing industry is no stranger to change, with innovation and technology essential elements for success that drive manufacturers to explore new ways of doing business. Currently, the manufacturing industry is on the verge of a new industrial revolution, driven by increased competition and changing customer expectations coupled with supply chain challenges and the ongoing shortage of skilled workers.

These challenges are forcing renewed change across the industry, encouraging manufacturers to adopt new and emerging technologies and embrace digitalisation more than ever before. This is empowering them to do more with less.

Industry 5.0: the future is now

The fifth industrial revolution is upon us and manufacturers must be prepared to harness the benefits of Industry 4.0 to drive their businesses forward with the future of the industry. If the fourth industrial revolution was marked by big technological innovations, Industry 5.0 is where technology and human touch meet in the middle to bring personalisation back to the centre of manufacturing and factory operations.

Humans and robots will work in tandem. Collaborative robots can be paired with their human counterparts to support activities such as painting, buffing, or welding to help reduce operator workloads and enhance job satisfaction for human employees. Leveraging robots to support with time consuming, manual tasks lets manufacturers redistribute their human workforce to higher-value, more strategic roles.

Manufacturing has moved with leaps and bounds from its beginnings in the first industrial revolution to the precipice of Industry 5.0. However, many businesses risk stagnating if they fail to keep up with the latest trends and innovations that the industry has to offer.

Two of the biggest emerging trends driving the industry forward are:

1.??????Manufacturing-as-a-Service (MaaS)

The demand for custom manufacturing is increasing. MaaS lets manufacturers focus their attention on product innovation while outsourcing the manufacturing process itself to a third party. This especially benefits customers looking to reduce high capital expenditures as it lets them achieve a faster time-to market while minimising the cost of labour, maintenance, upgrades, and even investment expenses.

2.??????Augmented reality (AR) applications

AR and its potential applications continue to evolve rapidly. Ultimately, AR applications will empower manufacturers to overcome a myriad of industry challenges and achieve greater levels of efficiency and innovation more cost-effectively. For example, rugged devices that are integrated with AR technology let manufacturers directly control shopfloor and other automation systems from anywhere in the facility. This can streamline multiple operations while reducing errors and eliminating manual data collection.

While organisations need to be prepared to embrace new and emerging trends, they must also continue to invest in existing solutions and understand the role they continue to play as the industry evolves. For example:

Internet of Things (IoT)

IoT played a key role in Industry 4.0 and will continue to be a feature of the fifth industrial revolution. Combined with the benefits of data analytics from connected devices, IoT will empower manufacturers to identify and fix errors before a customer is even aware of an issue.

Cybersecurity

Cybersecurity continues to be a major concern for every industry globally, especially as malicious threat actors evolve, and the frequency and sophistication of attacks increases. For manufacturers, one of the biggest risks is the potential for a cyber breach to shut down production for an extended period, leading to significant losses in terms of time, money, and reputation.

Manufacturers must prioritise cybersecurity as part of their continued digital transformation and take steps to build resilience into digital initiatives. A cybersecurity strategy that prioritises zero trust principles is essential to help manufacturers protect their businesses from threats and reduce the potential impacts from attacks.

The revolution is imminent

As the manufacturing industry continues to change, businesses need to embrace new and emerging technologies to streamline operations and empower their workers to do more with less, without sacrificing control or compliance.

Digital transformation is an ongoing journey. Manufacturers that readily embrace the benefits of new technologies will continue to thrive as the industry changes. Manufacturing has always been at the forefront of change an innovation and it continues to be an essential testing ground for new technologies. The question is, are manufacturers ready for the next wave of evolution?