The manufacturing sector is characterised by a wide variety of markets, with exposure to economic cycles.
Manufacturers are looking to increase their operational efficiencies and reduce cost while developing innovative technologies. There is increasing demand for green technologies as a result of more stringent government regulations.
To remain competitive in today’s technology-driven manufacturing environment, innovation is the key.
However, greater competition for talent could limit manufacturers’ abilities to evolve, grow and adopt new technologies.
Key manufacturing industries include:
Major changes are going on in the industrial equipment market, with the manufacturers focusing intensely on the development of energy-efficient technologies.
Timelines are shrinking and lead times from concept to commercialisation are dropping dramatically. As a result, we encounter a shift on developing new platforms to better integrate all operations, from the assembling of components to the transformation of raw material into finished goods, plus a shift to digital automated factories would help both in increasing productivity and gaining a competitive edge.
The advent of smart manufacturing technologies and industry 4.0 hold promising potential for growth of this market.