Digital Transformation of the Australian Manufacturing Industry, Forecast to 2024

Digital Transformation of the Australian Manufacturing Industry, Forecast to 2024

Industrial Internet of Things and Data Analytics to Transform the Factory Floor

RELEASE DATE
09-Jan-2018
REGION
Asia Pacific
Deliverable Type
Market Outlook
Research Code: P9B4-01-00-00-00
SKU: IA01465-AP-MO_21436
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Description

Australia is able to stay competitive in global manufacturing due to its capabilities in manufacturing high value-added products. However, the comparative disadvantage in large-volume production is currently a restraint limiting the global competitiveness of the industry. The transition to smart manufacturing is being driven by structural changes in the global market, with Australia aiming to move from low-cost, high-volume production to high-margin, low-volume models. This study looks at the digital technologies transforming the Australian manufacturing sector. It provides insights into both global and domestic technology trends, throws light on market innovations, highlights the mainstream applications of these new technologies, and predicts the potential applications in Australia. It also analyses the competitive structure of the market, makes comparisons with traditional manufacturing, and discusses the overall trends and development plans that are shaping the market. Advanced technologies, such as robotics, Additive Manufacturing (AM), and digital manufacturing are revolutionising manufacturing, with new abilities to design and manufacture complex, customised products with short lead times, minimal tooling and wastage, and low labour demand. However, data analytics and technologies such as Industrial Internet of Things (IIoT) will have the most impact on the Australian manufacturing sector. Being data-driven allows manufacturers to gain a competitive advantage by analysing information to improve various processes in production, logistics, and supply-chain management. The adoption of digitally-enabled manufacturing solutions is most prevalent in the manufacturing verticals that require higher standards of quality assurance and higher production volume such as healthcare, aerospace, and Food and Beverage (F&B). For example, the adoption of digital manufacturing solutions allows more manufacturers to transcend from scheduled repairs and maintenance to being able to predict and prescribe maintenance, repairs, and possibly training to move from reactive to preventive performance capabilities. As such, digital manufacturing solutions have a natural environment in high-volume production lines, where the need to minimise production downtime from equipment maintenance is a major consideration. More manufacturers are recognising the benefits of digital transformation in the industry; however, there is some hesitance, as a large number of SMEs in Australia are unable to find the appropriate funding to support the investments required. Cybersecurity is an essential component in digital transformation. However, the expansion of a manufacturer’s communication network and digital integration of more production processes to be accessed and controlled via the Internet, cloud, and other network servers, could intensify the vulnerability of the organisation to security threats. To secure the company’s competitive advantage and ensure complete process control, a rigid set of protocols and protection systems should be set in place for end users of ICT solutions to trust the transformation process.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Key Focus Technologies

Scope

Definitions

Definitions (continued)

Manufacturing in Australia

Manufacturing in Australia (continued)

Manufacturing in Australia (continued)

Innovation

Comparative Advantages

Comparative Advantages of the Industry

Comparative Advantages of the Industry (continued)

Comparative Advantages of the Industry (continued)

Comparative Advantages of the Industry (continued)

Challenges in Australian Manufacturing

Challenges in Australian Manufacturing (continued)

Challenges in Australian Manufacturing (continued)

Challenges in Australian Manufacturing (continued)

Challenges in Australian Manufacturing (continued)

Challenges in Australian Manufacturing (continued)

Drivers of Digital Transformation in Manufacturing

Drivers Explained

Drivers Explained (continued)

Technology Underpinning Australia’s Growing Prominence in GVC

Data Analytics, IIoT, and Cloud at the Forefront of Digital Transformation

Real-time Analytics Improving Decision-Making and Time to Market

Digital Solutions Offering Greater Visibility and Ensuring Worker Safety

Restraints to Digital Transformation in Manufacturing

Restraints Explained

Restraints Explained (continued)

Lack of Standardisation Limiting Global Collaboration Efforts

Steep Technology Costs Hindering Growth of Innovative Manufacturing

Is Australia Ready to Embrace Digital Transformation?

IT Specialists Shortage Placing Australia’s Manufacturing at Risk

ICT Expenditure in Manufacturing

ICT Expenditure in Manufacturing (continued)

IIoT—Creating Next-generation Operational Intelligence

IIoT—Adoption in Australian Industries

IIoT—Key Enablers

IIoT—Market Drivers Influencing Adoption

Drivers Explained

IIoT—Market Restraints Influencing Adoption

Restraints Explained

IIoT—Case Study

IIoT—Case Study (continued)

IIoT—Case Study (continued)

Cloud—Location and Services Defining Manufacturing Models

Cloud—Enhancing Production Operations and Efficiency

Cloud—Adoption in Australian Industries

Cloud—Market Drivers Influencing Adoption

Drivers Explained

Cloud—Market Restraints Influencing Adoption

Restraints Explained

Cloud Computing—Case Study

Automation and Robotics—Improving Safety and Efficiency in Manufacturing

Automation and Robotics—Adoption in Australian Industries

Automation and Robotics—Impact of Advanced Robotics in Manufacturing

Automation and Robotics—Market Drivers Influencing Adoption

Drivers Explained

Automation and Robotics—Market Restraints Influencing Adoption

Restraints Explained

Automation and Collaborative Robots—Case Study

Automation and Collaborative Robots—Case Study (continued)

Digital Manufacturing—Integrating Smart Production and PLM Tools

Digital Manufacturing—Optimising Operational Efficiency

Digital Manufacturing—Adoption in Australian Industries

Digital Manufacturing—Market Drivers Influencing Adoption

Drivers Explained

Digital Manufacturing—Market Restraints Influencing Adoption

Restraints Explained

Digital Manufacturing—Case Study

Data Analytics—Unlocking the Power of Manufacturing Intelligence

Data Analytics—Adoption in Australian Industries

Data Analytics—Importance of Analysis to Operations

Data Analytics—Market Drivers Influencing Adoption

Drivers Explained

Data Analytics—Market Restraints Influencing Adoption

Restraints Explained

Data Analytics—Case Study

Additive Manufacturing—Empowering Customisation in Manufacturing

Additive Manufacturing—Adoption in Australian Industries

Additive Manufacturing—Business Model Comparison

Additive Manufacturing—Growth Areas and Market Potential

Additive Manufacturing—Market Drivers Influencing Adoption

Drivers Explained

Additive Manufacturing—Market Restraints Influencing Adoption

Restraints Explained

Additive Manufacturing—Case Study

Growth Opportunities—IIoT

Growth Opportunities—Solution-as-a-Service Business Model

Growth Opportunities—Additive Manufacturing

Strategic Imperatives for ICT Solutions Providers

Cybersecurity—An Imperative for Trusting Transformation

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Relevant Frost & Sullivan Studies

Australia is able to stay competitive in global manufacturing due to its capabilities in manufacturing high value-added products. However, the comparative disadvantage in large-volume production is currently a restraint limiting the global competitiveness of the industry. The transition to smart manufacturing is being driven by structural changes in the global market, with Australia aiming to move from low-cost, high-volume production to high-margin, low-volume models. This study looks at the digital technologies transforming the Australian manufacturing sector. It provides insights into both global and domestic technology trends, throws light on market innovations, highlights the mainstream applications of these new technologies, and predicts the potential applications in Australia. It also analyses the competitive structure of the market, makes comparisons with traditional manufacturing, and discusses the overall trends and development plans that are shaping the market. Advanced technologies, such as robotics, Additive Manufacturing (AM), and digital manufacturing are revolutionising manufacturing, with new abilities to design and manufacture complex, customised products with short lead times, minimal tooling and wastage, and low labour demand. However, data analytics and technologies such as Industrial Internet of Things (IIoT) will have the most impact on the Australian manufacturing sector. Being data-driven allows manufacturers to gain a competitive advantage by analysing information to improve various processes in production, logistics, and supply-chain management. The adoption of digitally-enabled manufacturing solutions is most prevalent in the manufacturing verticals that require higher standards of quality assurance and higher production volume such as healthcare, aerospace, and Food and Beverage (F&B). For example, the adoption of digital manufacturing solutions allows more manufacturers to transcend from scheduled repairs and maintenance to being able t
More Information
Deliverable Type Market Outlook
No Index No
Podcast No
Author Ivan Fernandez
Industries Industrial Automation
WIP Number P9B4-01-00-00-00
Is Prebook No