Current market trends

Since the start of the recession in 2009, the manufacturing industry has made a phenomenal comeback. The manufacturing business now employs over 12.3 million people, a 1 million increase. Manufacturing output is also increasing, aided in part by the increased use of technology.

Technology is all around us. We use computers and cellphones every day. Our homes are controlled by smart devices, and when we order food in a restaurant, the server takes our order on a small mobile tablet.

The Rise of Technology

Technology has been used in the manufacturing industry since the Industrial Revolution, when cotton mill owners sought to boost production. Today, most of us would struggle to function without technology, and this is also true for the industrial industry. When electronics, nanotechnology, and sophisticated materials first emerged in the 1980s, modern technology began to evolve.

Technology 4.0

According to many analysts, we are currently experiencing the fourth industrial revolution, in which new technologies like nanotechnology and photonics are replacing more antiquated ones. Manufacturing has a promising future as new industries emerge.

Smaller enterprises are now able to compete with the big boys in the global market because of the development of digital technology. They can communicate with clients from all around the world and use small factories to fulfill orders.

Automated processes and sophisticated gear transform mass production. Lower manufacturing costs have led to lower high-street prices as a result of increased output. Electronic devices are more affordable than ever, thanks in part to decreased production costs. You will get deep down knowledge about this industry from PL Global Impex Pte Ltd.

3D Technology

Manufacturers can now swiftly and affordably produce intricate components thanks to 3D design technology. The use of 3D technology has transformed the market. Small manufacturers are adopting the technology of 3D. It is ideal for producing little electronic goods and toys for children in high-quality, low-volume fashion. The miracles of 3D printing have made it possible for tiny entrepreneurs and innovators to become major manufacturers.

Industrial Robotics

The return of manufacturing as a significant contributor to GDP is largely attributable to the usage of industrial robots. In the US, there are about 237k robots working on assembly lines, but in Japan, where the production of electronics is a major industry, there are a lot more.

Complex electronic and engineering components used to be assembled by humans in factories. The output was arduous and slow, and mistakes were made by people. The introduction of robots didn’t catch on right away. Robots were initially expensive, and the idea that they would replace human labor in the workforce was met with a lot of opposition.