Grid Dynamics Insights
Manufacturing trends for 2024: Facing headwinds and capitalizing on tailwinds
How AI, connectivity, automation, security, resilience, and personalization are redefining the potential of manufacturing
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Our call to action is clear: embrace the lasting trends, invest strategically with a modular mindset, forge impactful partnerships, and embark on a journey of incremental build-up, ensuring the manufacturing sector not only withstands headwinds but emerges stronger in the face of transformative opportunities. The time to act is now. Let’s shape the future of manufacturing together.
Rohit Tripathi
Principal, CTO Office, Manufacturing and Supply Chain, Grid Dynamics
Our call to action is clear: embrace the lasting trends, invest strategically with a modular mindset, forge impactful partnerships, and embark on a journey of incremental build-up, ensuring the manufacturing sector not only withstands headwinds but emerges stronger in the face of transformative opportunities. The time to act is now. Let’s shape the future of manufacturing together.
Rohit Tripathi
Principal, CTO Office, Manufacturing and Supply Chain, Grid Dynamics
In 2024, manufacturers can expect a complex mix of demands and exciting new opportunities for innovation and growth.
Download this e-book to explore the key trends and technologies shaping the manufacturing industry’s future, plus solution recommendations and actionable strategies for sustainable implementation.
Navigate the storm of modern manufacturing headwinds
In the turbulent seas of modern industry, manufacturers face a barrage of challenges. Economic uncertainty looms large with fluctuating demand and escalating material costs, while skilled labor shortages cast shadows over operational efficiency. Supply chains, once the backbone of production, now buckle under the weight of disruptions, endangering output and timelines. Amidst this tempest, navigating evolving regulatory landscapes and urgent environmental imperatives demands agile adaptation for survival and success.
Embrace the tailwinds of technological advancement
As manufacturers navigate these turbulent waters, they can find solace in the tailwinds of technological innovation. Advanced technologies such as Industrial IoT, AI, and digital twins propel automation and predictive capabilities, paving the way for enhanced efficiency. Innovative revenue models, including direct-to-consumer approaches and product-as-a-service offerings, create new avenues for income generation and business growth. Additionally, embracing electrification and decarbonization initiatives not only boosts efficiency but also ensures compliance with evolving sustainability standards.
Top 7 manufacturing industry trends for 2024
1. Industry intelligence: A data-centric universe of visibility, transparency, and AI precision
Harness industry intelligence through advanced data analytics and AI precision to drive innovation, optimize operations, and steer the industry toward a fully connected, data-driven future.
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2. Redefining connectivity: 5G, on the edge, in the cloud
Enhance connectivity, and enable real-time data analysis, automation, and operational efficiencies across the production lifecycle with converged industrial network stacks, hyperconverged edge solutions, virtualized networks, robust cybersecurity tools, and innovative middleware solutions.
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3. Increasing automation and changing skill dynamics: Adapting to electrification and AI-driven complexity
Explore how electrification combined with AI automation and generative capabilities is fundamentally transforming manufacturing, bringing opportunities for efficiency, sustainability, and upskilling the workforce.
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4. Fortifying security: Zero trust by design in manufacturing
Adopt a zero trust security approach to safeguard cyber-physical systems against an expanding attack surface and evolving threats due to the convergence of connectivity, AI, automation, and electrification.
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5. Building resilience: Choosing sustainability and transitioning to net-zero
Build system-level resilience and transition to net-zero emissions by leveraging renewable energy, circular material flows, localized supply chains, digitization initiatives like inventory optimization and predictive maintenance, value chain transparency, and partnerships.
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6. From additive manufacturing to hyper-personalization: Building the future of customized production
Modernize infrastructure for hyper-personalized production capabilities, enabling customers to design customized products through technologies like augmented reality, 3D printing, and generative AI.
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7. Digitization 360: Actualize industry 4.0 across the value chain
Fully realizing Industry 4.0 across the manufacturing value chain necessitates comprehensive digitization through scalable cloud infrastructure, digital twins, control towers, digital threads, and platform engineering solutions that integrate advanced technologies like IoT, AI, analytics, and automation to optimize production quality, costs, flexibility, innovation, and enable data-driven decision-making.
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