The global manufacturing industry faces technological innovation and labor challenges.

SM811K01 32SE018173R1 In the past few years, the global manufacturing industry has faced unprecedented challenges. From inflation to supply chain disruptions, a variety of external factors have greatly affected the stability and growth of the manufacturing industry. However, manufacturing in 2024 will need to not only deal with these familiar issues, but also meet a new set of technological and market challenges.

01 The double impact of economy and technology

After several years of economic uncertainty, many manufacturing companies find themselves in a difficult situation. Investment has been frozen, budgets have been cut, and many companies have been forced to slow or suspend technology upgrades and expansions altogether. However, as the economy stabilizes, companies are looking for ways to restart investment and innovation.

Manufacturing decision makers are increasingly recognizing that, despite financial pressures, adopting new technologies and optimizing existing workflows are key to ensuring long-term competitiveness. Digital transformation and automation are no longer an optional luxury, but a necessity for survival and success.

02 Wide application of new technology

SM811K01 32SE018173R1 In today’s increasingly digital world, manufacturing stands on the threshold of a technological revolution. The integration of new technologies is not just a trend, but a fundamental transformation that the manufacturing front will undergo in the coming years. This transformation involves not only the update of tools and equipment, but also a fundamental shift in the way enterprises operate.

1. Connectivity, infrastructure and digital skills

With the increasing popularity of connected mobile devices and cloud infrastructure, an entirely new way of working is replacing traditional on-premises technologies and manual processes. Enterprises are gradually moving to more efficient systems that not only improve the ability to capture data, but also make measuring activity and productivity simpler and more intuitive.

But the shift brings its own set of challenges. Most prominent is the huge demand for digital skills. According to a PWC/Manufacturing Institute survey conducted in the third quarter of 2023, nearly 92% of jobs today require employees to have some form of digital skills. This figure highlights a pain point: Despite the enormous potential offered by technology, workers without the appropriate skills are unable to take full advantage of these technologies.