Tech Trends: What Will Be The Biggest Innovations by 2022
Predicting the future is hard and risky. Predicting the future in the computing industry is even harder and riskier due to dramatic changes in technology and limitless challenges to innovation. Only a small fraction of innovations truly disrupt the state of the art. Some are not practical or cost-effective, some are ahead of their time, and some simply do not have a market. There are numerous examples of superior technologies that were never adopted because others arrived on time or fared better in the market. Therefore this document is only an attempt to better understand where technologies are going. The book The Innovator’s Dilemma and its sequels best describe the process of innovation and disruption.
Manufacturing reimagined: from improved productivity to profitable growth
- Manufacturers are revamping their growth strategies as COVID-19 continues to cause uncertainty.
- Maximizing productivity is no longer enough.
- Instead, they should look to Fourth Industrial Revolution technologies to increase resilience, sustainability and growth.
Global disruptions and instabilities, supply-chain breakdowns, and heightened customer demand for digital-first experiences are speeding the Fourth Industrial Revolution (4IR) forward. While the COVID-19 pandemic continues to drive significant uncertainty, manufacturers are revamping their growth strategies with a renewed appreciation for how operating models determine strategic outcomes.
Maximizing productivity is no longer enough. To support any hope of lasting competitive advantage, companies know their operations must achieve more than ever before: stronger resilience, faster innovation, higher customer satisfaction, more-engaged workforces. And it all needs to happen at once.
11 Trends That Will Dominate Manufacturing in 2021
Much has been said about Industry 4.0, and how it has revolutionized the manufacturing world by providing manufacturers with opportunities to utilize advanced tools and technologies throughout the product lifecycle. There’s no doubt that Industry 4.0 has enabled manufacturers to increase operational visibility, reduce costs, expedite production times, and deliver exceptional customer support.
However, as 2021 rapidly approaches, it’s time to turn our attention away from Industry 4.0 and toward Industry 5.0. Where the fourth industrial revolution focused on using technology to optimize the means of production, the fifth is all about connecting man and machine — that is, collaboration between humans and smart systems. Depending on who you ask, Industry 5.0 is either on the immediate horizon, or it’s already here, its arrival accelerated by the onset of the COVID-19 pandemic.
Regardless which viewpoint you subscribe to, there can be no doubt that manufacturers must continue to embrace change in order stay ahead of competitors and win market share in an ever-evolving industry. Those who wish to not just survive, but thrive, must leverage the latest technologies and trends.
5 Key Manufacturing Industry Trends (2021)
The manufacturing sector isn’t as prominently in the public eye as industries like tourism and hospitality.
Nonetheless, the global pandemic has seen the industry endure its most severe disruption in over a decade.
Fortunately, 2021 promises a strong recovery — data from the UN Industrial Development Organization indicating a global growth rate of 18.2%.
As the industry recovers, resilience is the key theme giving rise to the trends that are altering the global manufacturing landscape.
In fact, a poll of over 200 C-suite decision-makers at global manufacturing companies found that 68% listed improved resilience and agility as a top business priority in the coming years.
Read on to gain insights on the biggest trends shaping the future of manufacturing.
5 Manufacturing Trends to Consider as You Plan for 2022
It’s that time of year again where we all start to forget the current year (maybe that’s OK) and start thinking of plans for the next — strategy and budget season! 2022 is only a few weeks away!
I thought I’d share 5 insights I’ve had about 2022 that you might benefit from as you start planning for next year.
- Electric vehicles
- Automation in Agriculture and food
- Supply chain disruptions
- Real and not hyped sustainability
- Technology as an HR tool
Global semiconductor manufacturing equipment sales projected to surpass $100B in 2022
The wafer fab equipment segment, which includes wafer processing, fab facilities, and mask/reticle equipment, is projected to surge 34% to a new industry record of $81.7 billion in 2021.
INTELLIGENT AUTOMATION AND ITS APPLICATIONS
Intelligent automation is a combination of artificial intelligence (AI) and robotic process automation (RPA), where AI enables insight-driven analytics, decision-making, and personnel management, and RPA automates processes and reduces human participation in them. It is a joint implementation of bots and software intelligence in the production process to assist people in creating new products and services. It brings together various strategies, skills, tools, and techniques that eliminate the need for labour, increase the predictability and reliability of services and reduce costs.
Implementation of Intelligent Automation
Intelligent automation systems can be implemented in nearly every industrial sector. Advanced techniques and great computing capacity create a new generation of hardware and software robots that perform both cognitive and physical tasks. They not only process vast amounts of information but also analyze it, spot inconsistencies, check for correctness, learn in the process of work, adapt to changes, and make decisions. Though the final decision-making is still the responsibility of a human operator, IA software does much of the work.
IoT Trends in Manufacturing: What to Expect in 2022
IoT is a hot and popular topic of discussion among people working in the manufacturing industry all over the world, particularly people in management positions. Internet of Things enables dozens of new approaches to factory operations. According to the research made by IDC, the combined added value from the improvement in operations powered by IoT is predicted to be worth over $470 billion per year.
IoT and its smart sensors are already responsible for a great share of automation enhancements that are only possible to implement on modern smart factories. However, the market is developing and manufacturers together with software development teams like that of GBKSOFT come up with new ways of how to make the most from IoT capacities.
Our team has analyzed the latest developments on the market and collected the main insights we’ve naturally gathered over the years through cooperation with clients. Hence, we prepared top IoT trends in manufacturing that we predict will be on top in 2022 and later.
- India’s opportunity to become a global manufacturing hub
Beyond the unprecedented health impact, the COVID‑19 pandemic has been catastrophic for the global economy and businesses and is disrupting manufacturing and Global Value Chains (GVCs), disturbing different stages of the production in different locations around the world. Furthermore, the pandemic has accelerated the already ongoing fundamental shifts in GVCs, driven by the aggregation of three megatrends: emerging technologies; the environmental sustainability imperative; and the reconfiguration of globalization.
In this fast-evolving context, as global companies adapt their manufacturing and supply chain strategies to build resilience, India has a unique opportunity to become a global manufacturing hub. It has three primary assets to capitalize on this unique opportunity: the potential for significant domestic demand, the Indian Government’s drive to encourage manufacturing, and with a distinct demographic edge, including considerable proportion of young workforce.
These factors will position India well for a larger role in GVCs. A thriving manufacturing sector will also generate additional benefits and help India deliver on the imperatives to create economic opportunities for nearly 100 million people likely to enter its workforce in the coming decade, to distribute wealth more equitably and to contain its burgeoning trade deficit.
The World Economic Forum’s new White Paper entitled Shifting Global Value Chains: The India Opportunity, produced in collaboration with Kearney, found India’s role in reshaping GVCs and its potential to contribute more than $500 billion in annual economic impact to the global economy by 2030. The White Paper presents five possible paths forward for India to realize its manufacturing potential.
The insights presented in the White Paper reflect the perspectives of leaders from multiple industries in the region. The five possible solutions include:
- Coordinated action between the government and the private sector to help create globally competitive manufacturing companies
- Shifting focus from cost advantage to building capabilities through workforce skilling, innovation, quality, and sustainability
- Accelerating integration in global value chains by reducing trade barriers and enabling competitive global market access for Indian manufacturers
- Focusing on reducing the cost of compliance and establishing manufacturing capacities faster
- Focusing infrastructure development on cost savings, speed, and flexibility
“For India to become a global manufacturing hub, business and government leaders need to work together to understand ongoing disruptions and opportunities, and develop new strategies and approaches aimed at generating greater economic and social value”, said Francisco Betti, Head of Shaping the Future of Advanced Manufacturing and Production, World Economic Forum.
7 advanced manufacturing start-ups focusing on factories of the future
As technology continues to shake up industry 4.0, here are some early-stage companies innovating in the advanced manufacturing and production space.
The list of 2021 Technology Pioneers from the World Economic Forum (WEF) features 100 early to growth-stage companies breaking new ground with technologies and innovations.
Here, we take a look at the advanced manufacturing and production start-ups on the list, with seven companies looking to change the future of the factory floor.
Manufacturing’s Smarter, Digital Future to be Showcased at LIFT
MEDC, Siemens and LIFT partner on Detroit institute’s new Digital Twin Smart Factory Showcase to educate, support manufacturers in the move toward smarter manufacturing.
DETROIT – LIFT, the Detroit-based, Department of Defense-supported national manufacturing innovation institute, today announced that it has begun developing a Digital Twin Smart Factory Showcase at its Corktown facility in conjunction with the Michigan Economic Development Corporation (MEDC) and Siemens Digital Industries. With a goal of technology and economic development, the installation will provide a demonstration sandbox for manufacturing companies and economic developers to explore smarter manufacturing technologies.
The Digital Twin Smart Factory Showcase – a full-scale digital model of the tabletop Mechatronics System currently used by students in the LIFT Learning Lab – will educate, stimulate, and support large and small manufacturing companies along with students. In alignment with LIFT’s mission to drive American manufacturing into the future, the project will increase local awareness of smarter manufacturing and Industry 4.0 systems, processes and advancements.
Automotive Cybersecurity Vital for Vehicles and Factories
Largely controlled by computer modules, semiconductors and software, today’s vehicles are more akin to smartphones than the rolling containers of mechanical parts of the past. The increasing dependence on sophisticated electronics and sensors is vastly improving vehicle performance, safety and amenities for drivers and passengers as well as creating networks of so-called “connected vehicles.”
RPA and AI enhance automation in the manufacturing value chain
RPA has been around for a relatively long time in manufacturing to emulate repetitive, mundane human tasks. But now new possibilities arise with the introduction of analytics, artificial intelligence (AI) and software automation. Manufacturers can now use this advanced technology across the entire manufacturing value chain to improve productivity and growth.
Automation was first introduced into the production side of manufacturing to reduce headcount. Physical robots accelerated the factory output and allowed employees to focus on high-value tasks, such as procurement, supply chain and transportation.
AI Investments Allow Emerging Markets to Develop and Expand Sophisticated Manufacturing Capabilities
As advances in machine learning, computer vision, and robotics help manufacturers around the world improve their processes and produce new and more complex products, artificial intelligence (AI) is becoming an integral tool of modern manufacturing, and one that is increasingly important to the industry’s future. By combining large volumes of data with the computing power to simulate human thinking, AI is increasing the efficiency, capacity, and complexity of factory floors, and is introducing robotics, the Internet of Things, and other cutting-edge innovations to manufacturing value chains across the globe. Artificial intelligence is a critical enabler of manufacturing complexity that is essential for companies to produce an expansive range of sophisticated products and dynamically engage with regional and global value chains. Firms and economies can increase both their manufacturing complexity and their market competitiveness by developing the foundational capabilities and know-how needed to adopt AI and other advanced technologies.
14 Supply Chain Trends for 2021/2022: New Predictions To Watch Out For
Supply chains are the lifeblood of most, if not all, businesses today. Keeping all supply chain components running as smoothly as possible ensures that your business can provide on-time delivery of products and services, especially with changing consumer demands and supply chain disruptions brought about by the COVID-19 pandemic. Aside from reading up on the latest supply chain statistics, it’s always helpful to stay updated on the latest supply chain trends.
In this article, we’ve gathered the top predictions for supply chains, supply chain management (SCM), and even inventory management for 2021 and beyond. By staying on top of supply chain management trends and issues, you can make sure that your company can readily adapt to these changes.
TrendForce, Taiwan, has detailed the top 10 major trends that are expected to take place across various segments in the technology industry in 2022. These are, as follows:
Micro/mini LED display development will revolve around active matrix solutions
A substantial number of technical bottlenecks in micro LED development will still persist in 2022. While Micro LED manufacturing costs are expected to remain sky-high due to these bottlenecks, companies have not shown decreased willingness to participate in all segments of the micro LED supply chain. On the contrary, these companies are actively expanding their respective production lines. Regarding the development of self-emitting micro LED display products, TVs represent one of the major directions of mainstream micro LED development, primarily because TVs, compared to IT products, have a relatively low technological barrier of entry.
Top 10 Materials Industry Trends & Innovations in 2021
The transformations occurring in the energy, automotive, logistics, manufacturing, construction, and other industries, in combination with evolving industry 4.0 innovations, drive demand for new materials. The materials industry trends range from solutions for sustainability, lightweighting, 3D printing, and surface engineering, as well as in developing intelligent materials, nano-formulations, and advanced composites with enhanced characteristics. Further, widespread adoption of artificial intelligence (AI), machine learning (ML), and data management practices invigorates scientists to explore and develop novel materials much faster, accelerating the time-to-market from a couple of decades to just a few years.
Innovation Map outlines the Top 10 Materials Industry Trends & 20 Promising Startups
For this in-depth research on the Top Materials Industry Trends & Startups, we analyzed a sample of 2.453 global startups and scaleups. The result of this research is data-driven innovation intelligence that improves strategic decision-making by giving you an overview of emerging technologies & startups in the materials industry. These insights are derived by working with our Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2.093.000+ startups & scaleups globally. The platform quickly delivers an exhaustive overview of emerging technologies within a specific field as well as identifies relevant startups & scaleups early on.