What is Driving the Manufacturing Industry Today?
by Lauren Southers
What are some of the key drivers in the global manufacturing industry? In my role at Welocalize, I spend a lot of time gathering market intelligence and analyzing key trends within various global industry sectors.
In this blog, I have highlighted three key drivers relating to the manufacturing industry impacting how global enterprises think globally. Although manufacturing is often seen as one of the more traditional industry sectors, there are some surprisingly modern and progressive influences driving the industry growth and resurgence in many geographies today.
1) Customer Centricity. The International Data Corporation (IDC) manufacturing analysts share their insights of what drivers will shape the manufacturing industry over the next few years. One of these key IDC initiatives includes Customer Centricity. In 2015, customer centricity requires higher standards for customer service excellence, efficient innovation, and responsive manufacturing, which motivates 75% of manufacturers to invest in customer-facing technologies.
Customer centricity is something global marketers can not ignore. According to 1,500 global marketers that weighed in on a Data-Driven Marketing Survey, organizations need to take the omni-channel approach to marketing, connecting with your audiences through multiple channels is essential for your brand. It is even more important to your messages, which need to be clear, consistent and local.
The need to develop multilingual manufacturing content to reach global customers has never been so great in this sector. In 2015, there is a greater emphasis on the importance of social communication and Internet marketing, as it helps manufacturers monitor concerns, track customer trends and demands and promote their successes. To enable this, translation and localization must play a key role in the overall business strategy to understand what is being said about a company’s products and to communicate to all audiences – no matter where they are located and in their language preference. See Welocalize blog, Emerging Content Types in Manufacturing.
2) Additive Manufacturing or 3D Printing. This capability has evolved greatly over the past three decades to the point where it can produce components made of metals, mixed materials, plastics and even human tissue. This technology is to be highly disruptive to the conventional processes and supply chains, and yet remains a growing technology today with applications mainly in the automotive, aerospace and medical sectors. According to Wohlers Report 2014, the worldwide 3D printing industry is now expected to grow from $3.07 billion in revenue in 2014 to $12 billion by 2018, and exceed $21 billion worldwide revenue by 2020.
Additive manufacturing is proving to be a game changer in the industry as it continues to grow. More opportunities will emerge and innovation in this technology will bring it closer to the mass market. The new technology is creating a shift in the way engineers are thinking about product development, which in turn will transform the way we train future manufacturing employees around the world.
3) The Internet of Things (IoT) is an exciting topic for the manufacturing industry and one that will significantly impact the localization strategy. Read more about IoT in the Welocalize blog, Five Trends in Global Manufacturing Impacting Localization.
According to IDC, by 2016, 70% of global discrete manufacturers will offer connected products, driving increased software content and the need for systems engineering and a product innovation platform.
The IoT enables devices to communicate with each other automatically without the aid of human input. Although the manufacturing industries have been slow to embrace IoT, it has massive potential to transform the industry. Factories that are connected to the Internet have been notably recognized as more efficient, productive and smarter than their non-connected counterparts. The benefits of using this technology include reducing downtime as machines will be able to notify mechanics regarding defects or any maintenance required, less waste and increased quality. The IoT will also be able to provide an increased visibility to the manufacturing floor with big data analytics. As more useful data is collected and Internet and cloud technologies become more extensive and secure, the automated factory is able to know in real-time what is happening on the factory floor.
Localization and translation will impact of the Internet of Things. Whether is localizing device software, training multimedia, operating manuals, product guides, help resources or regulatory materials, in order to fully take advantage of the IoT, language consideration is key to maximizing the true global benefit.
What do you think?
Marketing specialist Lauren Southers is Manager, Global Marketing and Business Support at Welocalize. Team.
Welocalize partners with some of the world’s largest manufacturers including as Terex, Mettler Toledo and John Deere to localize and translate software, technical content, marketing materials and more. Click here to read more about Welocalize services to the manufacturing industry.