Trends That May Reshape Australian Manufacturing Industry in the Nearest Future

In 2018, the Australian manufacturing industry contributed about $100 billion to the overall GDP of the nation on a yearly basis and employed about 900,000 Australians. In other words, it is one of the most important factors, when it comes to the development of the Australian economy as a whole. On the other hand, it consists of a number of different industries, which means that there are not many trends that impact it as a whole. Still, there are several factors and future trends that might just be able to pull this off and here are four of them.

1.      Expansion of IoT

When it comes to the relationship with the product and the manufacturer, it usually ends with the sale being made. Afterward, the manufacturer may ask for an honest review, yet, there’s no guarantee that they’ll get it. Even if they do, the results may not be valid or accurate. With the expansion of the trend of IoT, the sheer volume of data that you’ll receive will be far superior, which will give manufacturers much greater insight into how their products are being used.

2.      Smarter storage solutions

The issue of storage space is the staple of the manufacturing industry. Why? Well, because it determines both the number of raw materials that you can store and the number of produced items that you can have in your possession prior to delivering/moving them to a store. Due to the fact that adequate storage requires major investments in terms of warehouse space and proper warehouse management strategies, more and more businesses are outsourcing storage solutions to specialized agencies. Other than being more cost-effective, this makes smaller manufacturing businesses easier to manage from a logistical standpoint.

3.      AR and VR training

One of the problems with training in the manufacturing industry lies in the fact that untrained workers tend to make mistakes which result in a waste of materials or faulty/low-quality products. With the help of VR training, this process will be handled much better and the training will give quicker results. Also, in some industries, the overall safety will be improved, mostly due to the fact that there are a lot of worst-case scenarios that really couldn’t be drilled in any other way. In other words, other than being an incredible boost in the field of 3D modeling, both AR and VR training are incredible didactic tools.

4.      The use of robotics

The use of robots in the manufacturing industry has so many advantages that it’s hard for any list to encompass them all. First of all, robots can be safely sent into the most dangerous of tasks without the fear of injury. Robots work on weekends and holidays and don’t take sick days. While some fear that robots will soon come to replace human workforce, the truth is that the robots will mostly be in charge of hard, hazardous tasks that the majority of human workers wouldn’t be interested in, to begin with.

Moreover, with recent advancements in the field of AI and machine learning, the efficiency of these robots can be unparalleled. Previously, we’ve talked about the lack of training that results in expensive human error. Well, with the proper use of well-programmed robots, the concept of human error can be completely ruled out.

Conclusion

While some of these trends are already quite big in the manufacturing industry, the truth is that they are yet to uncover their full potential. No one can know for sure how long it will take for them to reach the pinnacle but the continuous trend of growth in all of these fields is more than evident. Moreover, it is expected that this trend of growth will carry on in the future.