While doing our in-depth research for the recent Industry 4.0 Top 10, we identified several trends that are gaining significance. Our key takeaways include:
- Artificial intelligence (AI) is on the rise in use cases like condition monitoring and predictive maintenance. Industry 4.0 uses real-time data analysis, AI, and machine learning in the manufacturing process, helping reduce errors. With the convergence of AI and emerging technologies, firms can solve complex problems and smooth decision-making by reducing human bias.
- The adoption of cobots (collaborative robots) has been increasing. Cobots, cheaper than traditional robots, are intended for direct human interaction within a shared space. Service providers collaborate closely with industrial robotics manufacturers for new and emerging applications. They engage with robotics manufacturers for core robotics capability development related to object identification, motion, and gripping tasks. Cobots are helping firms upgrade their Industry 4.0 offering by helping across assembly lines to increase efficiency, improve productivity, and increase safety.
- Firms have been investing heavily in digital twins, simulations, and threads. Digital twins and simulations bridge the gap between physical and digital assets. Simulations can help us execute different scenarios to test performance. By leveraging digital twins, companies can improve operations and time-to-market
- Focus is shifting from cost advantages alone to resilience. Industry 4.0 is accelerating distributed manufacturing, offering localized production. Various technologies supporting Industry 4.0 support the concept of the geographical distribution of manufacturing systems adjacent to the markets to enable “production on demand.”
- Manufacturing is leveraging the digital supply chain to break silos. The supply chain is now integral to Industry 4.0 and has become a board room conversation topic. The manufacturing industry is moving toward more digitized processes by redefining traditional manufacturing processes. By digitalizing the supply chain, manufacturers can take care of operational effectiveness and realize significant cost reductions.
- Manufacturing enterprises can overcome the PoC/pilot trap. Firms have been moving from the proof of concept (POC) stage to scaling pilot innovations for growth and profit. We have seen several examples of large smart-manufacturing implementations.
- There is a strategic focus on sustainability. Industry 4.0 comprises smart technologies such as AI, computing, IoT, and data analytics. Industry 4.0 adoption has encouraged organizations’ internal and external sustainability practices. Organizations have seen that technologies can simplify product tracking and improve product reuse, recycling, and waste production efficiencies.
The Bottom Line: The growth of emerging tech usage is helping in the seamless integration of people, processes, and technology, thus increasing the speed, reliability, and accuracy of information flow across the system. Apart from the above-mentioned items, we saw demand around other trends such as advancements in emerging technologies such as the internet of things (IoT), additive manufacturing, 5G, 3D printing, cybersecurity, and drones.
For more insights, take a look at the HFS Industry 4.0 report here.
Explore the HFS Pulse Dashboard
Take a look at the breadth of data in our Pulse Dashboard, which showcases data about current and future demand trends for technology and business services and related emerging technologies. See more here.
