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Home Technology AI and Machine Learning

What APAC manufacturers can expect in 2024

FutureIoT Editors by FutureIoT Editors
January 22, 2024
Photo by Mikhail Nilov: https://www.pexels.com/photo/man-in-blue-crew-neck-t-shirt-wearing-clear-protective-goggles-9242837/

Photo by Mikhail Nilov: https://www.pexels.com/photo/man-in-blue-crew-neck-t-shirt-wearing-clear-protective-goggles-9242837/

Asia stands as the dominant region for manufacturing and consumer markets. The manufacturing sector is forecasted to continue to grow despite being dragged down by several external factors including a sluggish global economy, higher monetary interest rates, rising material costs, and cross-border trade protectionism.

Manufacturers face significant challenges in navigating a dynamic and fiercely competitive market. Issues such as supply chain disruptions, escalating inflation, growing cyber threats, workforce shortages, and mandatory sustainability compliances are compelling organisations to reassess and reshape their business strategies.

In the IDC FutureScape: Worldwide Manufacturing 2024 Predictions — Asia/Pacific (Excluding Japan) Implications, IDC predicts that by 2027, 60% of Asia/Pacific-based organisations will augment operational roles with automation technology, elevating employee engagement and unlocking a 50% increase in worker efficiency.

IDC’s predictions highlight that AI will drive greater automation that reduces human intervention, creating an autonomous environment, and improving decision-making that drives higher operational efficiencies. The introduction of GenAI has spurred manufacturers to reconsider their approach and reimagine the next level of use cases.

2024 predictions

• Use of AI/ML for high-mix, low-volume production: By 2025, to promote personalized products as added-value, 40% of Asia-based 2000 (A2000) manufacturers will fully utilize AI/ML for high-mix, low-volume production.

• Generative AI integration into operational systems: By 2025, 40% of Asia/Pacific-based companies will be integrating operational systems with GenAI to better ingest data, identify issues, and provide real-time context to operators improving efficiency by 5%.

• Use of AI/ML in robotics and automation: By 2028, the integration of AI/ML into robotic and automation routines within industrial operations will increase by 30%, driving higher efficiencies and a 10% reduction in downtime.

In the near term (2024-2026), the focus will be on the integration of AI to augment operational roles and improve product personalization, and on the integration of GenAI into operational workflow. Meanwhile, the long-term (2027-2029) focus will be on the adoption of AI-powered robotics and automation for higher efficiencies and better productivity performance.

Wai Yee Lee

"Manufacturers in the Asia/Pacific region are adopting a digital business model with a primary focus on increasing revenue streams, enhancing operational efficiency, managing risks, and fortifying operational resilience," says Dr Wai Yee Lee, research manager for IDC Manufacturing Insights Asia/Pacific.

She notes that technologies such as automation, robotics, cloud computing, edge computing, artificial intelligence, GenAI, and digital twin are pivotal enablers for organisations to cultivate operational excellence, business agility, and resilience.

“These technologies play a crucial role in achieving both short- and long-term goals, thereby opening up new avenues of opportunity for businesses,” she opined.

Related:  Singapore launches digital roadmap for M&OE industry
Tags: 2024 predictionsartificial intlligenceIDC
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