Smart manufacturing is a broad concept; it is not something that can be implemented in a production process directly. It is a combination of various technologies and solutions which collectively if implemented in a manufacturing ecosystem, is termed smart manufacturing. Various advanced technologies and solutions, which assist in optimizing the entire manufacturing process and thus increase overall profits.
Some of the prominent enablers in the current market scenario include:
- Artificial intelligence
- Blockchain in manufacturing
- Industrial internet of things
- Condition monitoring
Companies are constantly investing and exploring how to obtain benefits through the implementation of enablers. If we closely look at enablers, then we will observe that they are either generating data, accepting data, or both. Data analysis will help in making the production process efficient, transparent, and flexible.
“The IoT in manufacturing market size is projected to grow over USD 15 billion in 2019 and expected to grow at a compound annual growth rate (CAGR) of 35% during the forecast period of 2019–2025.”
Smart Manufacturing Follows Data-Driven Algorithm
Smart manufacturing is all about harnessing data; data will tell us “what to do” and “when to do it.” Since smart factories are built around data, cybersecurity, above all, will play an important and significant role in the entire ecosystem of smart manufacturing. Data security is an important challenge while implementing these enablers.
All the stakeholders of smart manufacturing may be characterized typically in three types of companies which can broadly be called product and control solution providers, IT solution providers or enablers, and connectivity solution providers.
- Product and control solution providers include all the companies involved in the development of automation products and services. Examples include ABB, Honeywell, Siemens, Emerson, Rockwell Yokogawa, and Schneider.
- IT solution providers power the whole concept of IIoT and asset management. They help in building control, monitoring, and analytics infrastructures. Examples include HP, BM, Microsoft, SAS, Oracle, and Intel.
- Connectivity solution providers are telecom service providers that facilitate the smooth flow of data for asset management. Examples include Cisco, Huawei, and AT&T.
Such companies are following the advancement in smart manufacturing to make it commercialize in the global market. Also, these companies are aiming to provide useful support and data-driven solutions to advance the manufacturing process of companies in the manufacturing industry.