Category: Manufacturing & Engineering
Top 4 Next-Generation Smart Manufacturing Technologies
Do you know, between 2021 and 2027, the worldwide smart manufacturing market is anticipated to grow at a CAGR of 15%, reaching US$ 560 billion? And, this can be made feasible by using linked equipment, tools, and technology that improves a manufacturing business's entire performance.
We've all heard of the term "Smart Manufacturing," which has been in the news for the past several years. But, the context may be different, so what is the actual definition of Smart Manufacturing.
What Is Smart Manufacturing?
Smart manufacturing is described as "a fully integrated and interactive manufacturing system that adjusts in real-time to changing demand and factory circumstances, as well as the supply chain and customer demands," as per the National Institute of Standards and Technology.
But why smart manufacturing?
The pandemic's breakout has had a significant impact on business operations and prompting some to halt it. This unexpected change entails business holders rethinking existing processes and accelerate the digital transformation. According to research, from 2019 to 2025, the digital transformation industry is anticipated to increase at a CAGR of 23%, bringing the total market value to $3.3 trillion.
Top 4 Next-Generation Smart Manufacturing Technologies
A smart manufacturing solution is the combination of various technologies that work collectively and has been implemented in the manufacturing ecosystem.
Thus, technology has played a key part in the transformation of the term "manufacturing" to "Smart Manufacturing," which is defined as a digital manufacturing solution. There is a long-range of technologies, but let's focus on the top four next-generation technologies that will drive smart manufacturing solutions forward.
1: Implementation of IoT Solution for Smart Manufacturing
According to IDC, the industrial sector spent almost $200 billion on IoT in 2019, more than twice as much as the consumer IoT industry, which is the second-largest IoT vertical market. The Internet of Things (IoT) is one of the most important technologies of the twenty-first century. It is a technology that enables data transfer by connecting all other devices, equipment, and processes.
By leveraging IoT solutions in manufacturing, businesses are able to enable the flow of data and provide the ability to monitor, manage and secure the process remotely. Also, on the basics of generated data, stakeholders alter production plans rapidly and in real-time. It can also optimize the performance, cost, output, and resource efficiency of global manufacturing operations.
The role of IoT in smart manufacturing
- Improves manufacturing outcomes
- Reduce wasting
- Speeding production process
- Improves quality of the good
2: Rise of Artificial Intelligence in Manufacturing
The AI concept has been in the limelight for a long time, but now experts are developing AI-based smart applications for the manufacturing ecosystem. Artificial intelligence (AI) is an extensive range of computer science that focuses on creating intelligent machines that can do activities that would normally need human intelligence.
The AI-enabled solution in smart manufacturing gives the power to respond in real-time without much human interaction. Also, it allows the business to determine the performance, breakdown and operating status of equipment or machine.
AI (Artificial Intelligence) will play a significant role in smart manufacturing systems in the following ways:
- The cost of operation and maintenance (O&M) is reduced with predictive maintenance
- Improve the supply chain management
- Seamless quality control
- Enhance human-robot collaboration
- Buyer-centric manufacturing
During the projected period, artificial intelligence (AI) in the manufacturing market is anticipated to increase at a CAGR of 52.42 per cent, from USD 272.5 million in 2016 to USD 4,882.9 million in 2023.
4: Benefits of Digital Twin
A digital twin is a closer clone of an object, product, piece of equipment, process, supply chain, or even an entire business environment. As more companies are embracing the IoT and big data, amongst them digital twins become more popular. According to Deloitte, the worldwide market for digital twins is expected to expand at a 38% compound annual growth rate to $16 billion by 2023.
Digital twin technology, when used in the manufacturing business, provides insight into the production and manufacturing process. You may also use this information to make business decisions about production, equipment, processes, and the whole manufacturing environment.
Below are seven ways of how digital twin can use to improve manufacturing operation:
- Process optimization
- Product design
- Quality management
- Supply chain management
- Predictive maintenance
- Cross-disciple collaboration
- Analyse the customer experience
KCS is a renowned IT-based company that has been delivering services globally for the past two decades. KCS embraces emerging technology and trends to build business applications that digitalize work instructions and standard operating procedures.
We are proficient in handling and providing IoT-based app development, managed services, system integration. Also, KCS allowing the clients to leverage bondless possibilities by providing AI-based and digital twin solutions such as customer automation solutions, simplified research: evaluation & optimization, real-time assistance and many more. Experts at KCS, currently working on the needs of digital manufacturing solutions in order to enable the client to build a smart factory.
KCS recently completed a project for a well-known Japan-based healthcare institution. The client received an IoT integrated mobile solution along with intelligent application & Service management. This app enables the client to quickly monitor heart rate when the user starts deriving. We employed iOS in addition to IoT technologies to create a more responsive and user-friendly app.
Manufacturers were compelled to change the way they think about and utilise technology as a result of the epidemic, and this transformation took place practically overnight. Quick change, on the other hand, brought rapid progress. For retaining and expanding market share, these four technologies have been pushed to the forefront of smart manufacturing toolkits. Smart manufacturing is now affordable and accessible, with the potential to transform production in nearly every industry and usher in a new era of connection, data trust, and profitability.
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