Trends That Will Dominate Manufacturing in 2023
Discover the top manufacturing trends for 2023 that are revolutionizing the industry. Stay ahead of the curve with the latest technological innovations.
Trends That Will Dominate Manufacturing in 2023
“It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change.” — Charles Darwin
While Sir Darwin never mentioned Manufacturing or technology in his theory, the history of industry trends is a testimonial to the fact that the only thing permanent is change. With the onset of newer demands, the ever-evolving industrial innovation is down to provide fresh options for supply as well.
Predictive Maintenance To Avoid Unanticipated Downtime.
Industrial economics makes it evident that manufacturers bear heavy costs due to breakdowns in crucial equipment. Facts supporting the statement prior are as follows:
98% of organisations report that a single hour of downtime costs them over $100,000.
While 81 %indicated that an hour of downtime costs their business over $300,000.brq
Therefore, In order to ensure that all the paraphernalia are functioning at optimal levels manufacturers are moving to predictive maintenance and predictive analytics.
It has been shown beyond doubt that the application of Predictive Maintenance reduces unforeseen outages and adds more years to the lifeline of the machinery hence reducing the maintenance budget of the manufacturer. Meanwhile, Predictive Analytics allows users to observe the accuracy as well as efficiency of the equipment using different types of performance metrics, another salient feature is being able to collect data by application of IoT.
The reliability is raised a notch above as Predictive Analytics provides manufacturers with a better understanding of the functioning of the systems and when they might malfunction, enabling them to use Predictive Maintenance which assists to save time, money, and resources. Any minute chance of production loss due to equipment shutdown is almost eliminated as the manufacturers are empowered to conduct monitoring tests while the equipment is up and running.
Hence the application of Predictive Maintenance and Analytics can have the following merits
- 1. Early Fault Detection
- 2. Less Downtime
- 3. Improved Reliability
- 4. Better Performance
- 5. Extends Equipment Life
- 6. Reduced Cost
VR & AR enabling innovation
Augmented reality and Virtual reality are technologies capable of enhancing or replacing a real-life environment with a simulated one.
- 1. Augmented reality (AR) augments your surroundings by the addition of digital elements to a live view, generally by using the camera on a smartphone.
- 2. Virtual reality (VR) is an entirely immersive experience that replaces a real-life environment with a simulated one.
Assistive technologies such as augmented reality (AR) and virtual reality (VR) allow technicians to provide remote assistance by sending clients AR- and VR-enabled devices and walking them through basic troubleshooting and repairs. This feature was used extensively during the pandemic. The successful application of augmented reality(AR) and virtual reality (VR) permitted manufacturers to go on endeavours of researching and developing new techniques and procedures with the objective of making them permanent features.
In conclusion, customers and field service technicians benefit from the reduced risk of exposure and manufacturers benefit from exploring new lines of business.
IoT Is Need Of The Hour
The Internet Of Things (IoT) may have become a bit common Industrial trend but COVID-19 is responsible for the rejuvenated curiosity regarding the Internet Of Things (IoT). The capabilities of the Internet Of Things (IoT) such as Remote Monitoring, Interactive User – Interface, Smart Functionalities, Convenience, and Predictive Maintenance to name a few. It liberated professionals and non-professionals alike during the height of the pandemic.
IoT enabled manufacturers to make use of real-time data as well as achieve a variety of goals on the financial, innovative, and safety front as well.
To conclude the Internet Of Things (IoT) assists to live and work smarter. The application of IoT enables the automation of processes leading to reduced labor costs. It helps in waste management and improves service delivery. IoT helps cut down manufacturing along with delivery expenses and provides transparency into customer transactions.
Production Being Made Affordable & Rapid by 3D Printing
3D printing utilizes computer-aided design to generate three-dimensional objects through a layering method. Sometimes referred to as additive manufacturing, 3D printing involves layering materials like plastics, composites, or bio-materials. To create objects that range in shape, size, rigidity, and color.
3D printing has proven to be extremely handy due to the following :
i) Rapid Prototyping and Rapid Manufacturing: 3D printing provides companies with a low-risk, low-cost and fast method of producing prototypes. It allows them to test a new product’s efficiency. Also companies across many industries make use of 3D printing for rapid manufacturing and allowing them to cut down expenses when producing small batches or short runs of custom manufacturing.
ii) Tools: Functional parts and tools do show their fair share of wear and tear over time and may become inaccessible, obsolete, or costly to replace. 3D printing allows tools to be easily produced and replaced for multiple applications with high durability, reusability, and accuracy.
iii) Models:3D printing offers an inexpensive solution to producing models for visualizing concepts and ideas in 3D. It covers everything from consumer product visualizations to architectural models, medical models, and educational tools.
iv) Environmentally Friendly: This technology helps in reducing material wastage and it becomes inherently environmentally friendly. Another factor aiding environmental benefits is improved efficiency from using lightweight 3D printed parts.
Metaverse (The Future Internet )
The Metaverse is a virtual-reality space in which the users can interact with a computer-generated environment as well as other users. The term “metaverse” was first used in the science fiction novel “SnowCrash” in the year 1992.
The Metaverse brings forth a plethora of opportunities owing to its versatility. It can be put to use in multiple ways. It can function as a platform for gaming, as an education tool, as an online digital classroom, and much more.
The Metaverse can act as a training platform for new employees and as a medium for practice for experienced ones. This feature of Metaverse comes in handy, especially for people employed in industries. That depend upon the utilization of heavy machinery or the application of large amounts of raw materials.
For this, we can consider the construction industry where projects like bridges, roads, and buildings. This often in progress and where even a small mistake can put everyone and everything in jeopardy.
The Metaverse has generated curiosity among employers and employees alike. More than 65 billion dollars were invested in the first financial quarter of 2022 in order to develop and explore the Metaverse.
Experts suggest that the Metaverse will be to Gen Z what Social Media was to Millenials.
Sustainability Technology and Green Manufacturing
Sustainable technology is a creative fusion of technology and sustainability.
The term sustainable technology focuses on two main concepts. Technology that has been designed to cure or halt environmental issues. And the technology that has been configured with the aspiration of sustainability.
Meanwhile, Green manufacturing refers to the reconditioning of production processes as well as the establishment of environment-friendly practices.
The application of Sustainable Technology and Green Manufacturing has the following effects:
- Reducing Environmental Hazards: Sustainable technology prevents contamination or other negative environmental impacts through its use and production. The switch of the automobile industry from IC (Internal Combustion) engines to electric motors has progressed in the same direction. Electric vehicles produce negligible emissions when compared to their traditional counterparts.
- Change in resource usage: The switch from non-biodegradable to biodegradable materials. Plus, the attempts to replace non-renewable resources with renewable ones. Hydropower and solar power are worth mentioning.
- Natural resource conservation: Workers will utilize specific technologies along with practices to conserve natural resources, such as those related to organic agriculture, land management, and soil, water, or even flora and fauna.
The wheel of transformation neither stops nor ceases to amaze. The adaptability of an organization will make or break it. Hence the best way for an organization to grow and prosper is to make sure that they continue to update itself with time, trend, and tech.
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