Manufacturing Industry 2019/2020: Trends, opportunities and niches
Every market field and industry has its own trends. These trends are changing by various factors like fashion, customer needs and more. And the manufacturing industry isn’t different here. In this article, we will describe the newest ones, that are also the most popular now. Let’s check them out to satisfy your self-education need.
In this article, you will find a lot of information that you can base on to rise your factory to the next level. Especially for you we have searched the internet and collected details about the most popular trends, opportunities and niche in the manufacturing industry. Those aids will certainly increase demand, marketing options and production for your company.
Trends can change from day to day, and no one has the power to predict them. However, if you enter the market in time, you will have a good chance to take place in the competitor and grow your company.
You will read in a moment about the newest trends, niche, and opportunities that are also the most popular in the whole manufacturing industry. We are sure that after reading nothing will surprise you on the way to success.
Below you will find a lot of useful information and knowledge on the topic, so nothing will surprise you on your way to success. Relax and focus on what we’ve got for you.
2. Top Trends in Manufacturing Industry
Progress of technology, knowledge, and science allowed the development of most of the trends from the past few years. In this part, we will show you which trends will contribute the most to grow your company, and which one you should focus on.
2.1 Complete digitalization
Technology constantly moves forward, and if you want your company to stay on top, you should keep up with all the changes. Nowadays it is easier to see which hi-tech solution will help you and your business grow.
- IoT(Internet of Things) – this technology will help you to take care of your manufacture. By smart sensors, you are able to follow productivity, efficiency, and consumption of individual parts. Each of those details is been sent automatically to Enterprise Resource Planning platform [EPR] for integration purposes.
- IT / OT (Internet Technology / Operating Technology) – formerly IT provided technical support, and OT independently monitored and controlled the machines. Today those two functions connect and communicate with each other by IoT.
Using IoT you are able to fully control every each machine from every place on Earth – for example by virtual or augmented reality. With the IoT and smart wearables, you can keep an eye on productivity and current statuses and operations. This allows you to optimize your work and find better solutions for the problems you can face in the future.
2.2 Focus on B2B2C
By changing the business model from B2B to B2B2C you are able to get much more benefits, which will surely contribute to the growth and increase your profits. Here are a few of them:
- Increase numbers of customers – do not limit your perception and spectrum of potential customers. Show them your product directly.
- Increase profits – except wholesale prices you should offer the product with retail prices to earn more. Remember to scan the market to make sure you can compete at the price level with similar products.
- Reduce time to enter the market – you should create and test the prototypes quickly, get reviews and put the final product to the market. You will evade a long time selling process, which requires blocked product development. It is a great move to overtake your competitors.
- Full brand control – you should not be dependent on intermediaries and any other third parties. Decide about your manufacturing image and prices, to achieve full control and keep an eye on everything.
- Matching expectations – you can gather your customers’ data to improve and modify your products to make them better for your target group.
2.3 3D Printing
3D printing technology development has had a huge influence on global productivity of manufacturing industry. The biggest benefit is the reduction of time needed for production and cost of prototyping, testing, and troubleshooting the new one. Also, technology allows you to create upon request away from the production cycle. You can no longer worry about expensive form for just a prototype, you can just print it and test within hours.
Factory based on robots is a big mistake because nothing is better than people. Machines reduce producing time and are more accuracy but will not work without qualified experts. It can be difficult to find those workers so you should focus on two important aspects:
- You should train and educate your own employees because you know them and you can have a look at their progress. It is not the shortest way but the most profitable.
- Find a way to make your company more attractive to specialists like programmers, scientists, 3D printer specialists, and other highly qualified staff.
2.5 Recycling and use of secondary waste
Recently life in harmony with BIO and ECO become very fashionable. Numerous people are vegans and most of the globe segregate waste for reuse. You also should consider this issue, which can strengthen factory position and get respect in a larger group of recipients. Become a company that takes care not only of people but also the environment. Do you ask for advantages? Here you go:
- Your manufacturer will get a positive opinion and more customers
- You will save the cost of production and time of obtaining resources by using secondary materials
3. Opportunities for the manufacturing industry in 2019/20
The world evolves constantly so you can not be left behind. In order to face the challenges and achieve the best results, you need to create the right conditions and use every opportunity to win.
3.1 Become an expert
For most, it can be ridiculous, but it is extremely important if you want to create a sense of trust. You should work on the brand and prove that your product is the one that customer need. Exhibit your knowledge and opportunities, make people talk about you. No one else makes more certainty than an expert!
3.2 Get to know your knowledge
If you want to show your company from the best site you need someone who has knowledge about. What about your employees? You know them and no one else has such a big concept about factory as them. Use their knowledge and skills, in reward giving additional benefits which are not necessary to be cash.
3.3 Keep improving your skills
Training and improving worker skills is the best way to make the factory better. Like we have mentioned before you should make your crew became experts in the field of specialized tools and skills. This opportunity will give more effective productivity and worker well-being.
3.4 Documenting the pros and cons
Making documentation and analyzing the market has great benefits. This opportunity will allow you to refine the product, and better meet expectations by determining customers’ needs and factors to avoid. Thanks to that you will produce better products and more effectively you enter the market.
3.5 Show people that contributed to the company’s history
Single prizes or benefits are good and needed, but is there something better than public recognition? Highlight those employees who actually created the company, or introduced innovative solutions and give clients the opportunity to know something about them.
There are many options, we have chosen the most important and achieving the best results. Summarizing, you should keep business fluency, show the best sites of manufacturing and become an expert in your niche. Do not forget about the strongest knowledge you have – your employees – show the world, who create the company.
4. Niches that are worth keeping eye on them
The most important aspect – the niche. You must choose that one which gives you the biggest possible and at the same time a little competition. There are a thousand niches but not each will bring expected profits. Between them, we pick the most wanted and popular. Have we got your interest? So check out what we have!
4.1 Smartphone accessories
Microtechnology and electronics developing very fast for a few years. Each year has been creating a new type of smartphone with more and more capabilities. The enter of this market is quite difficult but worth it. For example, you can manufacture smartphones’ gadgets or microelements.
4.2 Clothing and textiles
Appearance is one of the most important things that we pay attention to. Niche is dominated by global known brands, but if you have a great idea about fashion nothing can stop you. Creating unique, great quality and eye-catching outfits surely raise your company to the top. Jeans, shoes, cotton shirts and many more textiles just waiting for you to present something new to the world.
4.3 Fitness, beauty and health
Technological progress has led to the fact that a wholesome, full vegan meal is contained in powder sachet – like in science fiction movies. Removing unwanted hairs are limited to few laser’s snaps, and muscularity comes down to wearing a special belt or using massager. Advances in medicine and robotics allow creating “robot-doctors” which reduced the risk of complication and size of scars. This niche becomes more and more popular and every day convinces more people.
4.4 Electric cars – vehicles of the future
Not so far ago the latest cars could only detect pedestrians and self-parking. Later hybrid cars appeared, which combined a traditional gasoline engine with an electrical one. And now we have electrical, self-driving, fully automatic Tesla’s cars. But cars are not everything, there are electrical skateboards, scooters or motorcycles. There are many possibilities which you should consider.
Healthy bio-organic products find supporters among the ever-growing audience. It is a good idea to meet those constantly increasing needs by manufacturing such products. This niche has not as many producers as others, which enables you to easier get the market.
Let us know how are you feeling after reading an article and leave a comment! Now you know about the most popular and most wanted niches, trends and opportunities in 2019. You will surely find more but we chose the best, shortening your search time to a minimum. And you should remember that there is a lot of trends in other industries like wholesales industry, and many more. Thanks for your time and see you next article.
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