Manufacturing is one of the leading industries across the world. As of late, tremendous developments have been made, transitioning the industrial sector at a fast pace. Here are a few leading trends that will influence the manufacturing industry in 2021 and beyond:
5G is the fifth-generation technology that has revolutionized cellular communication as we know it. With a soft release in late 2019, we believe more industries will adopt this new technology in 2021, including the industrial manufacturing industry. 5G boasts features such as improved bandwidth, greater capacity, minimum latency, and more. With more stable, reliable broadband connections, the industrial sector can move into the age of smart manufacturing.
AI and Automation
In the industrial manufacturing industry, efficiency is everything — companies are always looking for ways to achieve the same results but quicker. We already see AI (Artificial Intelligence) and automation software will become integral parts of manufacturing processes. AI and automation software will not only increase productivity, but ensure fewer human errors — which supports improved quality control.
Like AI and automation software, 3D printing technology allows manufacturers to produce high demand products in a short period of time. The more product produced, the more revenue generated. 3D printing also allows manufacturers to produce cheap prototypes quickly.
Internet of Things (IoT)
The Internet of Things (IoT) refers to the objects embedded with software, sensors, and other technologies that allow the exchange of data with other systems over the internet. For the industrial and HVAC manufacturing industry, the IoT can collect production data and convert this data into valuable insights about production processes. Manufacturers are finding that using IoT increases efficiency and improves operations.
As we approach the end of the year, it’s time to start thinking about how you can address vulnerabilities in your business. At Floro Business Strategies, we specialize in business alignment, strategic planning, succession planning, executive coaching, and distribution channel development.
Our professionals can help you identify desired results and any potential barriers, develop concrete evidence of problems, and help you understand the consequences of ignoring the problems. Interested in learning more about our services? Contact us today!