10 Manufacturing Trends Your Startup Needs To Know
You’ve probably heard the statistic that 90% of startups will fail within the first five years. You have undoubtedly also heard about the big manufacturing startups that have changed the world, like SpaceX, Bitmain Technologies, and Lightyear. What do these startups – among the 10% that eventually make it – do differently?
The answer is quite simple. Such startups understand the importance of staying up-to-date on trends. These trends include using 5-axis CNC machining, collaborative robots, smart manufacturing, big data, predictive maintenance, and agile manufacturing, among others.
Successful startups also understand that success results from knowing the industry and the ability to adapt to a constantly changing world.
This article focuses on the ten leading manufacturing trends you need to know to increase your startup’s chances of success even when the odds are stacked against you.
Behind the Trends
Before we look at the specific trends shaping the manufacturing space today, let’s briefly look at the environment under which these trends are taking place.
An article published by the multinational professional services network, Deloitte, states, “The changing economics of production and distribution, along with shifts in consumer demand and the emergence of ‘smart’ products, are pushing manufacturers to explore radically new ways of creating and capturing value.”
The Deloitte article also suggests that “Manufacturing is no longer simply about making physical products.” Adding, “As technology continues to advance exponentially, barriers to entry, commercialization, and learning are eroding.”
According to Deloitte, it is within this environment that startups can access novel tools. Such tools help these companies operate at a smaller scale, challenging once-dominant entities.
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