Smart automotive manufacturing is revolutionizing the way today’s vehicles are designed and produced, which is paving the way for more connected, sustainable, and “smart” transportation solutions. Thanks to advancements in AI (artificial intelligence), robotics, and data analytics, among other cutting-edge IoT (Internet of Things)-related technologies, automotive manufacturing relies more than ever on realtime monitoring and predictive maintenance, while benefitting from enhanced safety measures. Industrial automation solutions are also streamlining production processes, optimizing efficiencies, and opening the door for improved quality control.
The automotive manufacturing equipment market is set to grow from $6.7 billion in 2023 to $11.4 billion in 2028, according to a new report from MarketsandMarkets. The firm says growth is being driven by adoption of automation and robotics technologies by manufacturers, as well as steady demand in the automotive industry for vehicles and an increase in EV (electric vehicles) and hybrid vehicle sales.
A new report from Rockwell Automation suggests automotive manufacturers are laser focused on the “pursuit of quality, the impact of process automation, the adoption of smart manufacturing, and the essential role of technology when mitigating risks, navigating workforce challenges, minimizing costs, and boosting production.” The company’s eighth annual “State of Smart Manufacturing Report: Automotive Edition” surveyed nearly 200 leaders from automotive manufacturers, automotive suppliers, and EV manufacturers across 13 different countries.
Rockwell Automation discovered that, thanks to technology adoption, 85% of automotive manufacturers expect to maintain or increase their current workforce. More than half (64%) say they’re using software to automate processes, and 54% say they’re increasing automation to address labor shortages. About one-third (31%) of automotive manufacturers plan to invest in AI and machine-learning technologies or have already invested in them.
The report suggests the industry is also turning to automation to navigate risks, with 59% of participants saying their companies are mitigating internal risks by adopting technology, and 50% mitigating external risks with the use of tech. Many businesses said increasing automation will be the No.1 way they plan to drive positive business outcomes, while digital transformation is being pursued to minimize costs and improve quality.
When it comes to automation, there’s always the risk of job displacement. Fortunately, the report found 42% of automotive manufacturers expect to be able to repurpose their existing workforce as they adopt automation technologies, while 27% actually plan to hire more employees because of tech adoption.
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