How Will Digital Transform Manufacturing?
Much of the buzz surrounding advances in digital technology concerns consumer products and services. However, digital will profoundly influence many big industries, including manufacturing, in the next few years. While a considerable number of manufacturers still have old-school, offline operations, that number will drop to almost zero in the next five years — and that’s just the beginning.
A few forward-looking companies are already leading the way in digital manufacturing and experiencing major gains in speed, effectiveness, and more as a result. Even manufacturers who aren’t currently taking part in the digital revolution still recognize the need to innovate soon with digital technology.
So how exactly will digital transform manufacturing in the near future? See below or feel free to take a look at how we can help with our collection of customizable mobile form templates for manufacturing.
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How Will Digital Transform Manufacturing?
Staying Competitive – 81% of U.S. manufacturers acknowledge that digital manufacturing is key to future competitiveness. 14% say that they are adequately equipped today with digital technologies and expertise. 45% say big data analytics are within their top 3 priorities. 1 in 5 Manufacturers admits their factory operations are completely offline. 73% of companies haven’t made concrete plans regarding the Industrial Internet of Things (IIoT) yet. 87% believe that the IIoT will be a net creator of jobs.
CASE STUDIES:
Time to market: Reduced by 50% when Boeing used an all-virtual design for its new 777 and 787 models.
Effectiveness: Increased by 24% at Stanley Black & Decker plant in Mexico with the installation of Wi-Fi RFID tags to monitor the status of production lines.
Speed of order competition: Increased by up to 70% in Amazon warehouses through utilizing industrial robots alongside human workers.
U.S. GOVERNMENT SUPPORT
8: Number of Manufacturing Innovation Institutes that form the National Network for Manufacturing Innovation; $70 million: Department of Defense grant to the Digital Manufacturing & Design Innovation Institute; $10 BILLION: Annual tax savings from the R&D Tax Credit, which covers eligible safety enhancements and innovative manufacturing processes (among other things).
LOOKING AHEAD
1.3 MILLION: Estimated new industrial robots that will be installed globally from 2015 to 2018; $14.2 TRILLION: Amount the Industrial Internet of Things could contribute to global GDP by 2030 (currently contributes approx. $500 billion).