According to the International Labour Organization (ILO), workplace accidents result in 330,000 deaths every year. At the same time, the U.S. Bureau of Labor Statistics reports that fatal work injuries are on the rise in the United States. These unfortunate statistics highlight the need for a robust safety strategy. Environmental, Health, and Safety (EHS) software has emerged as a promising technology to reduce employee risks. Safety managers in industries such as oil & gas, chemicals, mining, automotive manufacturing, and steel production are especially interested in EHS software solutions, given the hazardous nature of their work environments. These companies require safety-related data to be easily accessible for further analysis. As a result, potential sources of accidents get evaluated, staff are alerted proactively of these dangers, and the overall number of incidents can be reduced.
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ABI Research forecasts that aerospace manufacturers will spend US$33.6 billion on digitalization in 2024, ballooning to US$53.8 billion by 2034. This increase in digital spending represents an enormous opportunity for technology suppliers to offer solutions that can increase production volume, reduce carbon emissions, provide operational visibility, and test new product designs. The Dassault Systèmes, PTCs, and Siemens of the world will be critical facilitators of digitalizing aerospace operations, enabling firms to optimize their entire value chain and meet surging demand.
Digital transformation is in full swing in the mining industry. Most of the top mining companies are searching for talent with experience in technologies like data analytics and Artificial Intelligence (AI). The search for tech talent stems from a wave of challenges that cast doubt on the future of mining and metals operations. Mining firms realize that in the face of macroeconomic uncertainty, geopolitical instability, and an aging workforce, automation is essential to remaining competitive. This article sets out to help you envision what digital transformation means for mining operations in two ways. First, by explaining the most urgent market drivers of digitalization in the industry. Secondly, by listing the most digitalized mining firms worldwide ABI Research has assessed.
According to World Semiconductor Trade Statistics (WSTS), semiconductor manufacturing is expected to be a US$557 billion industry in 2023. In the wake of sweeping demand for semiconductors, manufacturers and their technology suppliers must accelerate their production processes, while balancing a tightrope between geopolitical trends and adhering to sustainability initiatives. The Asia-Pacific region remains a critical aspect of the semiconductor value chain; however, huge efforts in reshoring production plants (foundries) to North American and Western European soil are shaping a very different-looking industry.
In an ideal world, industrial and manufacturing firms could simply focus on producing goods and maximizing their profits through innovation. However, that’s not the world we live in, and they face several manufacturing challenges that they have little to no control over. Firms can prepare to act upon them by first identifying and evaluating the most significant issues. From there, strategic steps can be taken to ensure that production plants and supply chains are equipped with the technologies needed to build operational resiliency. With this post, I’ll walk you through five of the most highly impactful manufacturing challenges to be aware of in 2023 and pinpoint which vertical markets experience the greatest inconvenience from each of them.
Manufacturers, in their digital transformation journey, increasingly require advanced data analytics solutions to optimize their plant operations. More specifically, data analytics is an essential technology for the proactive monitoring of production line equipment, in the form of predictive maintenance, production line optimization, and accommodations for additional orders. Software providers’ means of delivering these solutions vary widely, as evidenced in ABI Research’s recently released Manufacturing Data Analytics competitive ranking. The report assesses 10 different suppliers of data analytics software for manufacturing companies and identifies the top innovators and implementers of said solutions. This post will summarize how some of these companies made it to the top of the list.
The pulp and paper industry is a largely unsung hero in our tech-focused world. However, without the industry, e-commerce would shut down immediately due to a lack of packaging materials. Moreover, paper is a crucial material for tissues, towels, personal hygiene, and medical care products. As for pulp, it’s used for creating plywood, lumber materials, and high-quality papers. Needless to say, pulp and paper producers are here to stay, though the industry is currently in the midst of taking the next step in its evolution.
The benefits of digital transformation in manufacturing should be pretty clear. Like other Industry 4.0 applications, digitally transformed manufacturers possess greater speed, agility, and scale for operations. Equipping plants and facilities with technologies like the Internet of Things (IoT) and other connected devices unlocks a goldmine of operational information and, ultimately, a competitive edge. Only with a fully digitalized approach can manufacturers defeat the army of challenges confronting them today.
The steel industry dates back to the 19th century and played a central role in the Industrial Revolution, which paved the way for the modern world. Steel continues to be a dominant iron alloy as it it’s used in construction, manufacturing, mechanical engineering, and other verticals. But steel production is both environmentally harmful and dangerous to workers. To address these two conundrums, steel producers must invest in digital transformation.
The modern manufacturer has a plethora of advanced technology options to choose from. For example, mobile robots can streamline assembly line processes and simulation software can shape the product or process design. Although the COVID-19 pandemic may have put a hold on heavy investment from some companies, the hiatus was just temporary. Whether it’s pressure from the competition, workplace safety, government regulation, or something else entirely, manufacturers have been and will continue to be one of the most significant market opportunities for technology vendors.