MT Magazine January/February 2024
JANUARY/FEBRUARY 2024
19
ctivity
Standards are the foundation on which digital manufacturing is supported and catalyze advanced technologies to further progress the manufacturing industry.
$1 TRILLION
$1 trillion in global spending in IOT (2023). 1
Digital Twin
75% OF COMPANIES
75% of companies in advanced industries have adopted digital-twin technologies. 2
A platform that dynamically plans and adjusts its path within a structured or semi-structured environment.
Autonomous Mobile Robots
See: ANSI/RIA R15.08-1-2020
Circular process of manufacturing and measuring on a specific part.
Closed-Loop Manufacturing
APHIC
AN EXPLOSION OF USE CASES
$3.9 BILLION
$3.9 billion in venture capital investment in 2021. 3
Augmented Reality
The estimated economic value in manufacturing worldwide is $40-$50 billion in 2025. 4
$40-$50 BILLION
Advanced computational and data analytic techniques enable fundamental understanding and predictive control of new material synthesis, fabrication, and characterization across length scales.
Material Science
Prescriptive Maintenance
Asset alerts end user to potential maintenance decision based on historical data (adaptive/anticipated/informed).
1 – https://www.statista.com/topics/9847/digital-twin/#topicOverview 2 – https://www.mckinsey.com/industries/industrials-and-electronics/our-insights/digital-twins-the-key-to-smart-product-development 3 – https://www.mckinsey.com/spContent/bespoke/tech-trends/pdfs/mckinsey-tech-trends-outlook-2022-immersive-reality.pdf 4 – https://www.statista.com/statistics/1319062/economic-value-from-iot-manufacturing-augmented-reality/
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