Latest Trends in Electronic Manufacturing Industry
Ever since the electronic revolution took the telecommunications sector by storm, the amount of competition in the industry has grown exponentially, mainly due to fervent investments as well as dedicated innovation. Soon thereafter, the digital economy was born, which led to the fabrication of a myriad of different electronic appliances, including televisions, smartphones and state of the art security systems.
Furthermore, the electronic manufacturing market is expected to grow exponentially in the year 2020, with projected numbers of approximately 3 trillion dollars, according to the Business Research Company. Here, we discuss some of the latest trends that you should look for this year in the electronic manufacturing industry.
Outsourcing Product Design
In 2019, you can expect more original equipment manufacturers to move their development processes and product designs to electronic manufacturing service affiliates. Product design, in particular, is being heavily outsourced in order to make the transition from fixed to variable costs, as well as to lower overall expenditures.
Many electronic manufacturing service concerns are providing their top of the line design services for finished items as well as sub-assemblies. Moreover, outsourcing design manufacturing, as well as joint design manufacturing, are expected to increase in 2019, and more and more original manufacturers will partner with electronic manufacturing service companies in order to implement such models.
The Rise of Virtual Reality
This year, expect more electronic manufacturing enterprises to utilize cutting edge virtual reality tech in order to ameliorate their manufacturing efficiency. Virtual reality technology is also sometimes referred to as simulation, digital design, or integration in the electronic manufacturing sector, and allows businesses to analyze various design objects at every conceivable scale. As such, electronic manufacturing companies can avoid pitfalls by rectifying defects that are detected during the design stage of manufacturing
Virtual reality is expected to play a crucial role in the global growth of the electronics manufacturing industry in the years to come, as the global growth rate of the industry is expected to grow by over 5%, according to the Business Research Company.
Advances in Automation and Robotics
Numerous electronic equipment enterprises have realized that automation and robotics technology can augment productivity while also ameliorating plant efficiency. In fact, many of the machines that they utilize today are equipped with leading edge sensors in order to extract invaluable information that can not only reduce the number of potential breakdowns but also augment efficiencies.
Also, according to the Business Research Company, the electronic equipment involved in robotics is expected to exceed the two trillion dollar mark by next year, and, according to the Boston Consulting Group, over a million industrial robots are expected to be released into the market by the year 2025. As such, there will be a marked increase in the usage of robotics tech and automation in order to lower production expenditures as well as augment productivity numbers.
Smart Household Product Integration
A plethora of manufacturers of household appliances will amalgamate ‘Internet of Things’ tech with their products in order to make the lives of their customers more convenient and comfortable. ‘Internet of Things’ technology refers to the interconnectivity of devices made with software and sensors and physical items in order to collect and exchange pertinent information.
To further illustrate, LG designed an application known as ‘homechat’, which allowed consumers to monitor their washing machines, refrigerators, cookers, and other related devices remotely from anywhere in the world via their smart device. Their homechat app was initially introduced to the South Korean market before being disseminated to other countries around the world. According to the Business Research Company, the global household appliance market is expected to exceed the 450 million dollar mark by next year, while the smart enabled electronic shipment market is expected to exceed the 200 million mark by 2020.
Increased Demand For Smart Televisions
In 2019, the demand for smart TVs will increase significantly, as more and more customers expect their personal devices to be integrated with their household devices. Increases in internet penetration will further accelerate the growth of the smart TV industry in 2019 and beyond. A smart TV is a device that integrates internet connectivity and television watching features into a cohesive package. In other words, users will be able to watch television in high definition, but will also be able to access many net-based services and apps, such as Facebook and Youtube, through their TV.
Furthermore, many streaming services can be streamed directly from a smart TV, including Amazon Prime Instant Video, Hulu, Crave TV, and Netflix. As such, many television manufacturers are entering the booming smart TV market. In fact, nearly half of all television sets shipped last year globally were smart televisions sets, and the number of smart TVs shipped is expected to reach the 134 million mark by next year. The Business Research Company also submitted a report that predicted that the video and audio manufacturing equipment sector is expected to reach the 350 billion mark by 2020.
To learn more about the latest trends in the manufacturing industry, call Circuits Central at 888-602-7264 or contact us here.