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Trends to Boost Your Manufacturing Business in 2022

Bhagyashri Kambale | October 27, 2021 | 989 views
Technologies in the manufacturing industry are upscaling daily. Manufacturers are keen to embrace the latest manufacturing trends to improve their manufacturing process, total production rate, and product quality at their factories. Manufacturing technology advances have also boosted production speed while retaining product quality.

“As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca.

Apart from manufacturing technology developments, we will look at new manufacturing business trends in this article, which will help you achieve maximum customer engagement and a positive relationship with your target consumer groups.

So, let's see some of the top manufacturing business trends that are assisting the industry in improving its business processes.

Manufacturing Business Trends: 2022

Manufacturers must adopt a business procedure that focuses on the target consumer group. Also, incorporating social responsibility and technology into company procedures would be beneficial.

Here are five ways manufacturing leaders are becoming more communicative and results-oriented in their manufacturing and consumer experience strategies. 

Deliver a One-of-a-kind Digital Experience

Every industry's target demographic is now online. Manufacturers must use digitalization to interact with their target consumer group to be noticed and remembered. Maintain an active presence on all popular digital platforms used by your target demographic. Post your new products, business strategy, or get genuine customer feedback on your brand and products. Engage your target audience and keep them informed of your progress in making their lives easier.

“Marketing is VERY important to any company, although I generally see it being justified by the number of web hits or ‘leads’ that come in” – John Hays, Director of Sales at BALYO

Allow your clientele to interact with your products digitally. To be a part of the new digital revolution in any industry, create a new digital business model.

Initiative for Ecosystem Partnership

An ecosystem partnership is a network of enterprises working together to provide a product or service to meet changing market needs. A partner ecosystem can generate customer-ready solutions faster. It also helps firms to co-create value. This value is demonstrated in extraordinary customer and partner experiences. The B2B ecosystem partners work together to bring mutual benefits to their companies.

Revenue Generation via Data Monetization

Data monetization allows industrial CIOs (Chief Information Officers) to monetize their digital products and services. Rapid digitization in manufacturing generates massive data. CIOs may monetize and distribute data across ecosystems. CIOs can leverage information as a resource to generate new services or business models. This ensures revenue even when external reasons like supply chain issues or human resource shortages interrupt the firm.

Using the Equipment as a Service (EaaS) Approach


EaaS, or Pay-Per-Use, is defined as: A business model where equipment is rented rather than sold, with remote diagnostics and predictive maintenance solutions offered by the vendor.

Using Eaas reduces capital expense, improves data reliability, and lowers operating costs. As a result, producers can undertake all production-related tasks with precision.

Bosch RexRoth CytroBox – a Perfect Example of EaaS

The global equipment-as-a-service market is estimated to develop at an 11.5 percent CAGR from 2021-2027. (OpenPR)

The RexRoth Cytrobox from Bosch is an example of EAAS. This hydraulic power unit converts electrical power into hydraulic fluid pressure and flow to move and force a machine. They are widely utilized in presses and tooling equipment.

It can handle up to 33 kW in a small space. Its exceptionally flexible; its unique design allows it to run efficiently and quietly. In addition, modern automation and sensor packages allow easy integration into modern machine designs.

Benefits of Bosch RexRoth CytroBox
  • It provides data insights during the long lifecycles
  • Using this hydraulic power unit on a lease can save a lot of money which cost $100.000
  • It requires heavy maintenance cost as per its type of usage that can be avoided with the EaaS approach


Shifting the Emphasis from B2B to B2C

Many firms are moving their attention from B2B to B2C to understand their target consumer better. This new strategic approach helps producers identify market needs and gain real-time feedback on their products. This method helps producers increase profit margins while also controlling the product's interaction with the intended audience.

Final Words

The latest manufacturing trends will take you to the cutting edge of manufacturing. The manufacturing developments in 2022 will boost the total manufacturing market in the coming years, allowing manufacturers to generate more business revenue.

FAQs

What is the manufacturing industry's future?

Industry 4.0 is rapid technological progress in production and is transforming the worldwide manufacturing industry. According to bccresearch's market research, the global manufacturing and process control market is predicted to increase from $86.7 billion in 2020 to $117.7 billion in 2025, a CAGR of 6.3 percent.

What is the industry 4.0 technology in the manufacturing industry?

IoT, industrial internet of things (IIoT), Cyber-physical systems (CPS), cloud computing, artificial intelligence, big data, machine learning, robotics, virtual reality, augmented reality, and additive manufacturing or 3D printing are some technologies that are used in industry 4.0 factories.

What are the current technology trends in the manufacturing industry?

AI, robots, 3D printing, and the like are all the latest manufacturing trends in manufacturing technology. Additionally, enterprise resource planning (ERP), cloud computing, and machine vision all play a significant part in advanced manufacturing.

Spotlight

NORD Gear Corporation

NORD Gear Corporation, part of the NORD DRIVESYSTEMS Group, is an industry leader in designing and manufacturing geared motors, AC motors, industrial gear units, motor starters and frequency inverters for decentralized drive control. Represented by 35 subsidiaries with sales and service partners in more than 65 countries, Our Corporation ensures short delivery times and services close to you.We provide customer-specific concepts and solutions for a wide range of applications in nearly every industry throughout the world. NORD Gear Corporation's product portfolio includes helical in-line, helical shaft-mount, helical-bevel, helical-worm and worm gear units with torques from 90 lb-in to 2,200,000 lb-in, readily available AC motors from 1/6 HP to 250 HP, variable frequency drives up to 250 HP, and mechanical variable speed drives.

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As a part of the Industry 4.0 movement, factory engineers are increasingly adopting some form of industrial Ethernet to interconnect the machines and other equipment implementing their production processes. Ethernet has been around in multiple forms for over 40 years. Most of it serves the IT community by interconnecting PCs and other equipment to a company LAN. Because of its flexibility, Ethernet has been adapted to many industrial uses.

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Article | February 11, 2020

Wuhan, the epicenter of the outbreak, is considered a crucial hub in the middle of China, a place of high importance for the production of automobiles, electronics, optics, and fiber optics. Wuhan and surrounding cities in the Hubei province are currently on a government-imposed quarantine at a scale the world has never seen before, some Chinese officials have referred to the situation as warlike.

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Article | February 10, 2020

Making digitalization work for you requires an understanding of your manufacturing ecosystem. Standards - such as ISA-95 - only guide you on a journey to more deeply comprehend the workings of your unique process for manufacturing your products. A batch manufacturing ecosystem often includes campaign management. Campaign management is not mentioned in ISA-95, which only speaks generally of order processing.

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Article | February 10, 2020

It’s the food and beverage industry’s job to appeal to consumer tastes by keeping tabs on what’s hot and what’s not. In the 1990s, for instance, fat free or reduced fat was all the rage, evidenced by the variety of products with such descriptions featured in bold typeface on cartons, cardboard and boxes. Fast forward to today, thanks in part to advancements in nutrition science, fat is back and is recommended in low-carb diets such as Atkins and Keto.

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Spotlight

NORD Gear Corporation

NORD Gear Corporation, part of the NORD DRIVESYSTEMS Group, is an industry leader in designing and manufacturing geared motors, AC motors, industrial gear units, motor starters and frequency inverters for decentralized drive control. Represented by 35 subsidiaries with sales and service partners in more than 65 countries, Our Corporation ensures short delivery times and services close to you.We provide customer-specific concepts and solutions for a wide range of applications in nearly every industry throughout the world. NORD Gear Corporation's product portfolio includes helical in-line, helical shaft-mount, helical-bevel, helical-worm and worm gear units with torques from 90 lb-in to 2,200,000 lb-in, readily available AC motors from 1/6 HP to 250 HP, variable frequency drives up to 250 HP, and mechanical variable speed drives.

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