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10 Technologies Driving the Future of Manufacturing

Dec

15

10 Technologies Driving the Future of Manufacturing

  • 10 Technologies Driving The Future Of Manufacturing4.9 billion connected devices (enabled by IoT) will be in use by 2015 and will likely increase to 25 billion by 2025.
  • Predictive data analytics is the most important advanced manufacturing technology needed for driving future competitiveness according to US manufacturing executives.
  • Integrated European priorities are aligning with Industry 4.0 and the development and integration of Smart Factories (IoT).
  • China is prioritizing predictive analytics to close the gap with the U.S. and create competitive advantage through High Performance Computing (HPC).

These and other key takeaways are from the Deloitte Global and Council on Competitiveness study, Advanced Technologies Initiative Manufacturing & Innovation. The study is a key element of the Deloitte Touche Tohmatsu Limited (Deloitte) and Council on Competitiveness multi-year Manufacturing Competitiveness Initiative.

Deloitte and the Council interviewed nearly three dozen Chief Technology Officers (CTOs), Chief Research Officers (CROs), Chief Executive Officers (CEOs), and company presidents from various manufacturing sectors, in addition to nearly a dozen directors of US national laboratories and research facilities. Please see page 4 of the study for more on details on the methodology.

The initiative is designed to help identify the most promising advanced technologies in development within the United States.  Senior management teams at ABB, Kraft, Deere & Company, Dow Chemical Company, PepsiCo, Ford Motor Company, General Electric, IBM, and Lockheed Martin Corporation and others were interviewed.

Key takeaways from the study include the following:

  • Predictive analytics, smart, connected products (IoT) and advanced materials are the three most important advanced manufacturing technologies to US manufacturing executives. Augmented reality is divided into two categories in the following table for clarification of its role in improving quality and increasing customer service and experiences. Both Chinese and European tech executives prioritize Smart Factories (IoT), with China placing a high priority on analytics and high-performance computing as well.  Chinese manufacturing execs are looking to advanced technologies to scale their production operations globally. The 10 most promising advanced technologies are ranked by China, Europe, and US manufacturing executives.

10 Technologies Driving The Future Of Manufacturing

  • The Internet of Things (IoT) global product and service market is projected to be worth $5.649B by 2019, attaining a 19.6% Compound Annual Growth Rate (CAGR) from 2013 to 2019.  The study also projected that 4.9B connected devices (enabled by IoT) will be in use by 2015 and will likely increase to 25B by 2025.  The following infographic from the study compares current and future applications, leading national lab involvement, and market size and growth forecasts.

10 Technologies Driving The Future Of Manufacturing

  • 3D printing and scanning global product and service market are projected to reach $20.4B in 2019, attaining a 25.9% CAGR from 2013 to 2019.  The study found that 3D printing electronics directly embedded into aircraft parts, printing sophisticated auto components that increase product quality and yield when reducing lead times and lower costs, and bio-printing organs for transplants are the potential new uses of these technologies. The following infographic provides an overview of the 3D printing, and scanning findings from the study.

10 Technologies Driving The Future Of Manufacturing

  • Artificial intelligence and machine learning is projected to be a $36B market this year increasing from $.9B in 2013.  Combining analytics, artificial intelligence, and machine learning enabling contextual intelligence and insight from the shop floor to the top floor is beginning to revolutionize manufacturing.  Applying cognitive computing to the complex challenges of multi-site manufacturing, multi-tier distribution, product configuration, distributed order management, and aftermarket service also has the potential to revolutionize manufacturing with greater accuracy, customer responsiveness, and speed.

artifical intelligence and machine learning

Sources: Deloitte Global: Ten advanced technologies seen to shape manufacturing’s future; Deloitte Global and Council on Competitiveness Study, Advanced Technologies Initiative Manufacturing & Innovation (pdf, 78 pp, no opt-in).

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