Industrial Automation Magazine India

The Countries Leading the Way in the Future of Production

Published on : Tuesday 29-10-2019

RS Components has produced a graphic analysing data from the WEF’s Readiness for the Future of Production report about countries leading the way in the future of production.

We live in a digital era, where technology has emerged and become integrated into both our personal and professional lives. In fact, it’s this technology that has become so intertwined that many of us do not even notice or realise how regularly we use it each day, from checking the weather on our phones to signing in to work emails to keep updated on tasks.

Advancements in technology have had a monumental impact in the workplace, transforming nearly all industries to some extent, from Agriculture and Education to Retail and Travel. The processes involved in each industry have been greatly improved and made more efficient, as well as resulting in entirely new industries being created, such as Computing.

Artificial intelligence, the Internet of Things, 3D printing, robotics and cloud computing are just a few examples of the progressive, and complex automation that is being built into processes to make them quicker, smoother, more accurate and efficient. As a result, these innovations have seen the birth of the Fourth Industrial Revolution. With the first Industrial Revolution taking place in the 18th century, it is clear the impact technology has had over the last 300 years in transforming the manufacturing of goods and the supply chain across all different industries across the globe. The changes have led to far less room for human error, as machinery is taking over to complete tasks much more quickly and accurately.

But with these new production levels, who is leading the way in driving these forward?

RS Components has produced a graphic analysing data from the World Economic Forum’s Readiness for the Future of Production report, to reveal the countries incorporating these technologies most and leading the way in the future of production. Each country has been analysed by a series of metrics including global trade and investment, institutional framework, sustainable resources, demand environment and emerging technologies. Based on these measurements, each country has been scored out of 10 to reveal who is coming out on top overall.

The top 10 countries driving the future of production include:

1. US – 8.16

2. Singapore – 7.96

3. Switzerland – 7.92

4. UK – 7.84

5. Netherlands – 7.75

6. Germany – 7.56

7. Canada – 7.56

8. Hong Kong – 7.45

9. Sweden – 7.40

10. Denmark – 7.20

The country leading the way in the future of production is the US with an impressive score of 8.16 out of 10. The diverse country takes the top spot across nearly all metrics, excluding Institutional Framework and Sustainable Resources. The US is known for being one of the world leaders in the world of technology, producing some of the most successful tech companies in the world, such as Google, Amazon, Apple and Microsoft. As a driver of innovation, the US has the technological foundations to incorporate this automation into its manufacturing and supply chain processes. It is crucial for countries to hold stable and connected technological platforms similar to the US, to intertwine new advancements successfully into processes.

As well as having a stable technological platform, it is just as crucial to ensure your employees are prepared for the changes set to take place in the workplace. Preparation and knowledge are key to the smooth transition into new and more efficient ways of processing, from the research stage, all the way through to manufacturing, completion and delivery.

Singapore ranks as the second country driving the future of production and the leading location in Asia, with an overall score of 7.96. Switzerland leads the way in Europe with a score of 7.92, followed by the UK at 7.84. Singapore is heavily involved in manufacturing with around  20% of its GDP deriving from this. This large percentage highlights the importance for Singapore to keep up with the trends and changes taking place in the production process and to keep driving forward, pushing for continuous improvement and innovation in its processes.

What country will be leading the way in the future of production in 10 years time?