As long as consumers consume, manufacturers will be needed to create products from raw materials across the world. Every country in the world has some form of production base in their economy – even those that have outsourced much of their production requirements to countries such as China and India. There’s much to be gleaned about the future of the global economy from this sector. In this article on three key developments in manufacturing in 2020, you’ll learn some vital information about the industry to help your own business or investments.
Automation Reaches Fever Pitch
One of the most impressive elements of the digital age is automation, careering towards total business viability in the more developed countries of the world. While human labor may still be indispensable on production lines in developing countries, it’s robotic arms and AI-enabled machinery making real breakthroughs in 2020.
This will mean much for businesses across the global economy. For one, hundreds of thousands of ex-production workers in plants and factories will be made redundant in the 2020s. This means an excess of labor on which other companies will be able to capitalize. Meanwhile, it also means that those businesses that code, maintain and repair machinery and automated products will see their revenues rise considerably over the course of this decade.
Basic Machinery Rules
There’s still the requirement, in all production lines, for the more standardized and traditional machines to production along. One of these is the trusty conveyor belt, transporting hundreds of kilos of products an hour across factory floors. Check out the current prices for conveyors on fluentconveyors.com, where there’s a generous selection of options for all kinds of business.
So, while automation may be making the headlines, there’s still a huge market for the orthodox machinery that’s been with us since the dawn of the industrial era. Whilst some may speculate on innovations, it’s in that essential technology that many companies and investors are placing their faith for the future, safe in the knowledge that it will be computers, robots and machines running our economies in the not-so-distant future.
Brain Over Brawn
Perhaps the most interesting development, in manufacturing on the global scale is that brains will become integral to the whole operation, end-to-end, in the near future. No longer will laborers be required to lift heavy loads. Even transportation is likely to be run by robots and algorithms in the future.
There needs to be a workforce to create and power these developments. That’s why any future-facing student will look to coding and computer engineering over many other disciplines. The growth of this industry is set to be one of the major news stories of the coming decade, with millions of individuals achieving computer literacy to the highest level by 2030.
These three tips are nourishing for the layman or the businessperson who wants to know where to invest their cash to make the most of technological changes in the near future.