Manufacturing News

2017 bright for manufacturers, lead by industrial automation equipment market growth

The future looks bright for manufacturers lead by a projected uptake in the industrial automation equipment market, according to a new whitepaper from IHS Markit. 

The report shows that that the industrial automation equipment market is expected to grow in 2017, after two years of contraction. This could mean reductions in the cost price of automation equipment like sensors and robots.

Manufacturers may also be able to operate more effectively in 2017 because a projected increase global growth rate -1.5 percent- which will be achieved due to cheaper oil and less expensive heavy machinery. 

Industrial automation will also become more influential in onshore manufacturing, according to the report. Falling shipping costs, falling currency exchange rates and multilateral trade agreements that are less effective than assumed will make onshoring a more attractive prospect for manufacturers. This could boost the manufacturing output of countries that have previously lost manufacturing jobs.

The report also identified trends around cloud-based services and automation where in-house cloud solutions and “edge” analytics will gain scalability and popularity in 2017.

IHS Markit senior research manager – manufacturing technology, Mark Watson, said that artificial intelligence will also be a major issue for manufacturers. 

“This year, robots featuring improved connectivity and sensing capabilities will continue to lead in the advancement of smart manufacturing,” Markit said.

 “With the further development of AI, industrial robots will become more intelligent—able to perceive, learn and make decisions on their own in the factory.”

Leave a Reply

Send this to a friend