APAC seen leading in smart manufacturing race
The region, however, grapples with a shortage of skilled factory workers.
With growing adoption of artificial intelligence (AI) and a strong manufacturing base, Asia Pacific is well-positioned to stay ahead in smart manufacturing for the rest of the decade, according to a recent report by Fortune Business Insights.
Market intelligence firm said APAC is currently home to the largest smart manufacturing industry in the world and it is expected to expand further by 15.7% in compound annual growth rate through 2030.
The presence of major manufacturing economies like China, also known as the world’s factory, Japan, South Korea, and India, already provides the region with a “solid foundation” for smart manufacturing technologies.
It added that AI’s rising popularity globally supports the growth of the manufacturing sector in the region as the trend motivates more factories to adopt smart technologies to improve production efficiency and lower costs.
Supportive government policies also play a key role in bolstering the sector, according to the research.
As the industry evolves, it said the region has to address pressing concerns that could hamper its growth including its insufficient pool of skilled labour force.
“There is growing demand for workers who can operate and maintain complex systems such as AI-enabled machinery, robots, and other smart manufacturing solutions technologies,” Fortune Business Insights said.
“However, there is currently a shortage of skilled workers in many parts of Asia Pacific, which can limit the adoption of smart manufacturing processes to some extent,” it added.