Megatrends Shaping the Factory of the Future

5/1/2018

Megatrends are global, sustained, macroeconomic forces of development that impact businesses, cultures and personal lives. The wonders of technology – and specifically the Internet of Things (IoT) – have us all on a dizzying course of change. ButMegatrends Shaping the Factory of the Future manufacturers, especially, must ensure factory operations are future-fit to transcend transformation. Trends and disruptive technologies will enable some businesses to compete and thrive, while those same circumstances will knock others off course (or out of the market completely). 

The following four megatrends are impacting factory landscapes and should be top-of-mind for manufacturing leaders and decision-makers turning into this new era of convergence and connectivity.

  1. Demographic Shifts: Populations in developing countries are growing, while numbers are shrinking in First World countries. These patterns will affect where and how manufacturers source employees and customers in the future.
  2. The Globalization of Future Markets: Worldwide exports are projected to triple by 2019, with those from emerging and developing countries expected to quadruple. Rapidly growing economies will bring new competition, and countries in emerging regions will align and collaborate to outperform those in more established economies.
  3. Scarce Resources: As the world evolves, we’re going to need more power. The growing demand for energy and materials will impact supply chain stability worldwide.
  4. Knowledge and Gender Gaps: Manufacturers will continue to see the challenges of a shrinking talent pool – particularly in developed nations. Simply put: there won’t be enough skilled people to perform jobs of the future. 

Tomorrow’s leaders are embracing game-changing technologies now and swiftly shedding the old mindset of waiting for market advancements settle in and become the norm. Those companies choosing to ‘wait it out a while’ take a tremendous risk, as the future and global competitors aren’t standing still. 

Download The Factory of the Future to delve deeper into these megatrends, learn how your business can take advantage of innovation, and identify the initial steps to future-proofing your market position. Accompanying infographics/eBooks such as Three Sure Ways to Get Your Factory Fit for the Future offer additional guidance on how to best prepare roadmaps and strategies to ensure you work smart to survive and thrive as the business environment becomes more nimble, efficient and competitive.


 

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