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With the aid of technology, the manufacturing process is not just producing products in a traditional and manual way. Today, the internet and other technology can help in improving the productivity and efficiency of the process, which is called smart manufacturing.
This technology has been widely recognized across the globe, thereby there has been an increased demand for the smart manufacturing market. According to a leading research firm, GMI Research, the smart manufacturing market size reached USD 268.4 billion in 2022 and would reach USD 703.5 billion in 2030. This rapid development is owing to the rising demand for systems that can minimize cost and time as well as the growing focus on automation in various industries.
What are The Benefits?
Smart manufacturing has offered various benefits in many industries.
1. Improved productivity
By providing excellent data access, this technology enables accessibility to real-time data throughout the management of the supply chain process. This way, businesses can manage their orders, reduce waste, minimize time to do marketing and mitigate downtime.
2. Increased sustainability
Smart manufacturing can provide predictive maintenance which offers insights on when regular service is necessary. Therefore, businesses can predict the machine condition, downtime, or any quality issues. These problems can also be handled by utilizing monitoring devices like sensors.
3. Better working outlook
The technology can also help to ensure smooth process management, data accessibility, and reduce wastage, while employing a project with a modest team. This way, businesses can launch an innovation to the market in a quick but effective manner.
4. Improved maintenance and supervision
From the production process to the end consumers, smart manufacturing can streamline the process while assisting the business to evolve and thrive. The technology can help in tracking the deliveries and evaluate the product quality. With the aid of Artificial Intelligence and big data analysis, businesses can also find out the customers’ preferences, their requirements, among others, which help businesses to provide products to the right target customers.
5. Increase equipment efficiency
By streamlining the operational process while being able to monitor and control the systems, businesses can improve equipment efficiency. This technology will also enable businesses to provide operational processes with high quality and energy-efficient output.
What are The Features?
In its development, smart manufacturing involves several essential features.
1. VR
Virtual Reality can provide images of real-world activities, whether in the form of video, audio, or positioning systems. This can enhance users’ experience while saving time and energy for the manufacturing companies. The engineers will have valuable assistance in conducting complicated virtual processes and also handling troubleshooting systems. In addition, the prototyping costs can also be reduced with virtual reality.
2. Additive manufacturing
Additive manufacturing plays an important role in the quick customizations, manufacturing spare parts, or in the prototyping process with the aid of 3D printers.
3. Cloud computing
Meanwhile, cloud computing is essential for storing data online to ensure seamless data accessibility and flexibility which can improve productivity and collaboration. Other features in the smart manufacturing market include IoT, cybersecurity, big data, advanced simulation, among others.
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