The global market for manufacturing and process control is expected to grow from $86.7 billion in 2020 to $117.7billion by 2025 with a compound annual growth rate (CAGR) of 6.3% for the period of 2020-2025.Manufacturers are highly focused on achieving new growth; many expect to be aggressive in their search for new opportunities. Yet with limited baseline growth expected in most markets, manufacturers will need to either invest into new technologies in order to ‘grow the pie’ or resort to a brutal competitive fight to steal market share away from rivals. The only certainty is that there will be winners and losers.
While revenue growth, thin margin,increasing labor and material cost were always part of manufacturing industry , Technology interventions from sensors, to automation, artificial intelligence, robotics and cloud computing, the challenge for many manufacturing companies is keeping up with the fast-paced technology innovation. To stay competitive , not only to use it in their products but also to leverage it in their processes and customer services.
Newer Industrial automation popularly known as Industry 4.0 is the information-intensive transformation of manufacturing (and related industries) in a connected environment of big data , people, processes, services, systems and IoT-enabled industrial assets with the generation, leverage and utilization of actionable data and information as a means to realize smart industry and ecosystems of industrial innovation and collaboration.
Newer industrial automation equipment incorporates sensors, controllers, computers, and network connectors. The use of robotics including robots working alongside humans is expected to triple or quadruple the next five years. Yet, integration of equipment to manufacturing systems is still too expensive for many small and medium manufacturers.
We partner with manufacturing leaders to identify new growth and product opportunities, innovative way to minimize the cost and focus automation initiatives which can lead to higher efficiency and product quality. We help customers to critically examine the value chain and build upon the capabilities and practices which can help them to sustain long term competitive edge .