5 Emerging Technologies Impacting Manufacturing Sector

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It is 2030 and the factory of the future has sensors everywhere and predictive maintenance will be the norm. Big Data in manufacturing will truly be king and simulations will drive decision making. New business models will help to share data while protecting intellectual property.  This will be industry 5.0.

Human-machine cooperation in 2030 will be possible only because of emerging technologies that are already shaping the manufacturing industry.

Emerging Technologies that will disrupt manufacturing

Over the next decade, 4 million manufacturing jobs are expected to be filled by highly skilled workers. Out of which, 2 million jobs are estimated to remain unfilled due to the skills gap. 80% of manufacturers are already facing a shortage of qualified applicants for skilled or highly skilled positions. All the more reason for manufacturers to turn to emerging technologies that are transforming the manufacturing sector and also addressing these workforce issues.

1. Internet of things in manufacturing

A little-known fact about the Internet of Things is that it all started with a brown lipstick. Yes, you read that right. In the late 1990s, Kevin Ashton, a young brand manager in the UK, was curious to know why a certain shade of brown lipstick kept disappearing from store shelves in his local store. Intrigued by how the wireless network could pick up data on a credit card, he toyed with the idea of using this technology on products. He reasoned that a wireless network that could pick up data on a card, could also pick up data from a chip on a lipstick package. This way the company and the store would know exactly which lipsticks were on the shelves. And the idea of IoT was born.

The Internet of Things (IoT) is a network of physical devices that are embedded with sensors and, software that make them the “eyes and ears” in a vast range of use cases. From home automation (intelligent thermostats, connected doorbells, smart coffee makers) to industrial automation (electric vehicles, robotics, medical imaging)  IoT is everywhere, talking to each other, receiving and sharing data amongst themselves without any human or computer interaction.

Internet of things in manufacturing is also called Industrial IoT. IIoT integrates various sensors, Radio Frequency Identification (RFID) tags, software, and electronics into industrial machines and systems to collect real-time data. Businesses then use this data to make measured, informed decisions to increase efficiency, streamline and simplify manufacturing processes, reduce downtime and costs, increas