Having crossed the half-way mark in the year, we take a look at a few major trends that are being seen in this field.
As the concept of Industry 4.0 continues to find more adopters, the manufacturing sector is on the cusp of a technological revolution. The year 2017 has, so far, seen several developments toward this, including the strengthening of several startups that cater to different segments of the industry. That the global economic conditions continue to remain difficult and are not expected to pick up much in the near future, especially in the developed economies, has heightened the interest in automation. Rising labor costs, even in traditionally low-wage countries like China, have prompted companies to seek the help of technology to keep their bottom lines in check.
Towards the beginning of the year, we had seen several experts elaborating on their expectations on industrial automation in 2017. Having crossed the half-way mark in the year, we take a look at a few major trends that are being seen in this field.
1. The increasing importance of data analytics
A single major aspect of industrial automation that has changed the way we perceive manufacturing is the realization of the power of Big Data. Market research done at the beginning of this year had indicated that most manufacturers are still not aware of the full potential of smart machines but were keen to consider them. We can now say that there is an increasing emphasis on effectively capturing and taking advantage of information that factory-equipment generate, which would help in optimizing operations and maximizing their effectiveness.
While major solution providers are at the forefront of innovation in harnessing the power of Big Data, several startups have come up with powerful solutions could potentially change the business landscape. Companies like the London-based Quartic are a clear example of this, assimilating data from various sources and presenting them as useful insights and even providing predictive analytics that could indicate if anything could go wrong and when.
2. More intelligent and collaborative robots
Robots have played an important role in factory floors for quite a few years now. But for the most part they have been large, crude machines that were locked up in special cages (for safety) and programmed to do just one or two tasks. But with Industry 4.0, robots have become more intelligent and friendly, to the extent that they work alongside people. Known as collaborative robots or cobots, these smart machines collaborate with humans in some way, either as an assistant in a task or process or as a guide.
According to a report from Technavio, the
global collaborative robot market is expected to grow exponentially at a CAGR of over 60 percent to 2022. Cobots are increasingly being seen as an excellent solution for high labor costs, especially in developed economies, while increasing operational efficiency.
3. Emphasis on going greener, cleaner
The manufacturing industry is not traditionally seen as environment-friendly. This image could soon change if the trends seen at the moment continue. As issues such as sustainability and healthier work environments become more and more important, manufacturing facilities are turning to technological solutions that can reduce their carbon footprint.
Upgrading to energy-efficient equipment is one of the priorities for several companies now and this is not just because for being environment-friendly but also for reducing the costs. Other initiatives include reducing waste and encouraging recycling.
In March this year, the World Economic Forum cited reports that said
companies with a focus on eco-innovation are growing at an annual rate of 15 percent at a time when many competitors remain flat. The reasons suggested for this include regulatory benefits and sustainable practices that increase profit.
4. The changing face of software
As the importance of analytics and related software become important, there would be an increasing number of non-technical personnel accessing the systems. To them, it is important that the software and its interface is as user-friendly as possible in order to gather the right data and make informed decisions. Software vendors are expected to continue efforts to make their products as easy-to-operate as possible.
5. The rising threat of cybersecurity
Cybersecurity concerns are not new to the manufacturing industry. Schneider Electric, in a whitepaper published in 2013, had said that the proliferation of cyber threats has prompted asset owners in industrial environments to search for security solutions that can protect their assets and prevent potentially significant monetary loss and brand erosion.
Fast-forward to 2017, cybersecurity concerns have only increased with threats like ransomware wreaking havoc across the globe. According to the antivirus and cybersecurity firm Kaspersky,
cyberattacks on industrial control systems are not just on the rise, but have transitioned from speculative to indisputable. Sixty-seven percent of Information Technology (IT)/Operational Technology (OT) security managers perceive the current Industrial Control System (ICS) cyber threat level as critical or high, an increase of over 43 percent from previous year’s findings.