Dedalus Consulting on Moving Forward: the Benefits of Factory 4.0

Mar 22, 2023 | Business

 Dedalus Consulting (www.dedalusconsulting.com) has recently published Cutting Tools: World Markets, End-Users & Competitors: 2021-2027 Analysis & Forecasts, the completely updated 11th edition of Dedalus’ in-depth research on the global cutting tools industry.

What is Factory 4.0?
Factory 4.0, or Industry 4.0, refers to the integration of advanced technologies such as the Internet of Things (IoT), big data, artificial intelligence (AI), and digital twins, into the manufacturing process allowing companies to optimize and further automate production.

This technology can be used to develop smarter factories that are more efficient and productive. By utilizing data-driven insights, businesses can make informed decisions that drive their operations forward in a cost-effective manner while improving quality and safety standards at the same time.

Further, despite concerns that automation will diminish the need for a human labor force, the development and implementation of Factory 4.0 technologies require skilled workers who are knowledgeable in the fields of engineering, data analytics, and computer science. These workers will be necessary to design, implement, and maintain complex systems. Thus, the nature of work in the manufacturing industry may shift towards more specialized, higher-skilled roles that require workers to be proficient in using and maintaining advanced technology.

Combining a digital and human interface will allow companies to more quickly pivot when needed and adjust production processes on the fly for maximum efficiency and sustainability in a competitive market landscape where change is constant and unpredictable at times. Thus, it offers significantly improved operational performance, cost savings, better control over resources, improved customer service through faster response times, superior product quality due to real-time monitoring of operations, improved safety standards for employees, and greater scalability for businesses looking to expand into new markets or launch new products quickly without sacrificing quality or customer satisfaction levels in the process.

The Benefits of Factory 4.0
Some of the benefits of Factory 4.0 include:

Increased efficiency: The most obvious benefit of adopting Factory 4.0 technology is increased efficiency in production processes thanks to automation and digitization advances such as CNC machines or robotics that can be programmed.

Improved quality: Factory 4.0 technologies can monitor production in real-time, providing greater quality control and reducing the risk of errors or defects.

Increased Product Development: Advanced manufacturing technologies allow for greater customization of products, as well as enhance existing product lines.

Enhanced safety: Automating dangerous tasks and providing real-time data on potential hazards will increase safety on the factory floor.

Cost savings: Improving efficiency, reducing waste, and enhancing quality control will result in significant cost savings for manufacturers.

Increased sustainability: The use of technology in manufacturing can help reduce the environmental impact of production processes.

Increased competitiveness: Manufacturers will stay competitive in a rapidly changing global market by improving productivity.

About Dedalus Consulting:
Dedalus Consulting is a privately owned and independently operated market research publisher and consultancy.

Our research focuses on both emerging and mature markets in high-technology sectors, including tooling and machining, advanced materials, frequency control and timing, surge and circuit protection, energy and renewables, life sciences, and next generation computing. Our clients range from Fortune 500 companies to private equity and investment banking institutions to academic research organizations engaged in the research, development and manufacturing of advanced technology products and services.

For more information, please contact Dedalus Consulting at info@dedalusconsulting.com or call us at (212) 709-8352.

Dedalus Consulting
Jennifer Larkin
212-709-8352
www.dedalusconsulting.com

ContactContact

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  • Manufacturing

Dedalus Consulting Report: Global Cutting Tools Industry Continues to Feel Recovery Pressures But Remains Strong, Growing by an Estimated 6.4% in 2022

Mar 22, 2023 | Business

 Dedalus Consulting (www.dedalusconsulting.com) has recently published Cutting Tools: World Markets, End-Users & Competitors: 2021-2027 Analysis & Forecasts, the completely updated 11th edition of Dedalus’ in-depth research on the global cutting tools industry.

The global machining and tooling industry continues to feel recovery pressures from world events, economic control measures and the lingering effects from the industrial slowdown. Yet, although many factors play heavily into the reshaping of the market, certain sectors and competitors are showing above average growth.

In 2022, the global market for cutting tools will grow by 6.4% and reach nearly $22 billion. Although this remains lower than the 2019 peak of $23.8 billion, the global market will continue to show steady growth over the next several years. Key trends affecting demand levels for metal cutting tools include the growing markets for electric vehicles – particularly across the APAC countries – and the widening use of additive manufacturing across industries. These disruptive elements are creating downward pressure on demand for traditional metal cutting techniques, yet more refined metal cutting tools and machines continue to drive the market in other sectors.

With background research on over 200 companies, the report also includes extensive information on the competitive environment. It details how manufacturers – from larger players like Sandvik, Iscar, Kennametal, and Mitsubishi to small regional players – are overcoming a slow market to achieve above average growth through aggressive mergers and acquisitions (M&A) strategies as well as focused organic growth.

Based on the company’s 20-year history of covering cutting tools, the report’s scope includes consumption value by year on over 20 regions/countries and 20 end-user industries (e.g., automotive, aerospace, automation, energy etc.) within each country. Data is broken down by country, product type (milling, turning, drilling, other), end-user demand, grade (e.g., tungsten carbide, diamond, cbn, ceramic, HSS), and indexable versus solid tools. This comprehensive four-volume, 400-page report has over 300 tables and graphs.

For more information, please contact Dedalus Consulting at info@dedalusconsulting.com or call us at (212) 709-8352.

About Dedalus Consulting:
Dedalus Consulting is a privately owned and independently operated market research publisher and consultancy.

Our research focuses on both emerging and mature markets in high-technology sectors, including tooling and machining, advanced materials, frequency control and timing, surge and circuit protection, energy and renewables, life sciences, and next generation computing. Research is continually updated through a methodology that is based on primary interviews with market participants, including manufacturers, end-users, research institutions, distribution channel representatives and service providers.

Our clients range from Fortune 500 companies to private equity and investment banking institutions to academic research organizations engaged in the research, development and manufacturing of advanced technology products and services.

Dedalus Consulting
Jennifer Larkin
212-709-8352
www.dedalusconsulting.com

ContactContact

Categories

  • Manufacturing

Dedalus Consulting Weighs in on Navigating Supply Chain Disruptions

Mar 22, 2023 | Business

 Dedalus Consulting (www.dedalusconsulting.com) has recently published Cutting Tools: World Markets, End-Users & Competitors: 2021-2027 Analysis & Forecasts, the completely updated 11th edition of Dedalus’ in-depth research on the global cutting tools industry.

The manufacturing of cutting tools is a complex endeavor and is touched by many industries from the materials preparation stage through the finishing stages of production. Some of these are plentiful and more easily sourced.

However, from 2020-2022, the deficiencies across multiple supply chains were brought into stark relief, and although they have somewhat been compensated for, they are not fully resolved. Supply chain disruptions can have a devastating impact on businesses and industries, and examining supply chains across different sectors of industry can be complicated. Further exacerbating the issue is that disruptions in one sector can ripple through an entire supply network, creating impacts on multiple industries. Risk management and resilience should be key pillars of any machining business’s strategy.

For example, the most important raw material in the production of cutting tools remains tungsten, and over 80% of the world tungsten supply originates in China. In 2022, supply chain issues surrounding the sourcing of tungsten from China continued to cause major issues not only in production within the tooling industry directly but also on the demand side within end-user industries, particularly within the semiconductor industry and the automotive industry.

Supply chain disruptions will continue to be prevalent, and they are likely to increase in frequency and intensity due to new challenges being caused by the impacts of climate change, technological change, world events, and trade policies.

Thus, moving forward it is important for manufacturers and end-users to have strategies in place that will help them prepare for ongoing supply chain disruptions. Some initiatives being taken include building multinational partner networks that will be able to supplement supply when there is a shortage or disruption; automating processes on the factory floor that will continue to decrease material usage; and implementing better efforts to recycle and reuse waste materials.

About Dedalus Consulting:
Dedalus Consulting is a privately owned and independently operated market research publisher and consultancy.

Our research focuses on both emerging and mature markets in high-technology sectors, including tooling and machining, advanced materials, frequency control and timing, surge and circuit protection, energy and renewables, life sciences, and next generation computing. Our clients range from Fortune 500 companies to private equity and investment banking institutions to academic research organizations engaged in the research, development and manufacturing of advanced technology products and services.

For more information, please contact Dedalus Consulting at info@dedalusconsulting.com or call us at (212) 709-8352.

Dedalus Consulting
Jennifer Larkin
212-709-8352
www.dedalusconsulting.com

ContactContact

Categories

  • Manufacturing