According to a recent study by the ARC Advisory Group, industrial production will grow worldwide until at least 2050.
Efficiency-driven economies (the ones we used to call "emerging") will experience the highest growth, and innovation-driven economies will also continue to grow and remain important areas for investment, largely because manufacturing has become a high priority as a source of social and economic development.
In factor-driven economies, industrial production will slowly grow and accelerate after 2030, but remain small at world scale.
During a recent Siemens-produced webinar, "The Future of Manufacturing: Scenarios for Investment in Manufacturing through 2050," ARC analyst Valentijn de Leeuw offered these 8 basic recommendations for manufacturers:
The study concluded that, driven by governmental, economic, and popular pressure to achieve sustainability, industry will undergo major restructuring and modernization. Sustainability will be less and less ideological and increasingly driven by necessity and scarcity. At the same time, production processes and technologies will be transformed to produce a larger share of advanced high-tech electronics, machines and robots, vehicles, pharmaceuticals, chemicals and sustainable energy.
Innovation-driven economies will remain the source of the most advanced and complex products, materials, and solutions. To reduce time-to-market and cost of engineering, these economies will use increasingly integrated process and product engineering and simulation, as well as advanced robotics. These economies will also conceive and produce the solutions used for this purpose.
All industries will also continue to increase investment in advanced solutions for processing. These include energy management, quality management, and supply chain management. Innovation-driven economies will continue to apply and implement these; efficiency- and factor-driven economies will follow in a second and third wave. These solutions will also require more automated maintenance and improvement algorithms to remain competitive or supplement for skills scarcity.
For more information or to download the study, click below.