Every day, more companies around the globe are deciding to install autonomous systems in their factories. They offer several benefits and have been proven to improve productivity, enhance safety, increase agility, and provide predictive maintenance.
For example, by analyzing data generated from tools, devices, and machines, operators can now more quickly determine errors and see equipment degradation. That allows them to make repairs faster and keep workers safe.
The global factory automation market is estimated to reach $368.37 billion in 2025, according to a report published by Allied Market Research.
The future of Industry 4.0
Automation is at the forefront of the Industry 4.0 revolution. We expect the industrial Internet of Things (IIoT) and the 5G revolution to accelerate factory automation worldwide.
Autonomous technologies will help factories more easily transmit data and supply power over long distances. One manufacturer making this type of technology is Nortech Systems Inc.
The Memphis, Grove, Minn.-based company makes the active optical technology platform Active Optical Xtreme (AOX). This hybrid solution offers data transmission capabilities over a long distance.
In industrial automation, the AOX technology is developed for connecting smart devices across long distance and is highly customizable. The system has flexible and resilient spectrum.
It will be helpful for demanding scenarios such as automated factories. The launch of such innovative systems will continue as the trend of automation in factories speeds up.
The importance of funding
Along with the new product launches, raising investments is another trend taking place across the world.
Pico MES, a manufacturing execution system (MES) software development company, has raised $6.75 million.
The funding will be used to improve its tools and capabilities in factory automation. The systems developed by Pico collects the data from different equipment and individuals working on the floor.
The company develops software for small companies. Through the improvement in tools and software, Pico aims to reduce errors, collect more data, offer insights, and raise the output. The IoT network and no-code devices enable factories to connect devices and automate processes. Such funding will pour in coming years as the adoption of factory automation increases.
About the author
Pratik Kirve currently working as a team lead for content writing at Allied Market Research. He has an avid interest in writing across different verticals. Kirve can be reached at firstname.lastname@example.org.