Jul 15, 2022   SOURCE: BusinessWire

Global Machinery Industry Overview 2022: Rising Demand for Innovative Products / Smart Manufacturing / Improving Supply Chain Resilience / Product-as-a-Service Business Model - ResearchAndMarkets.com

The "Global Overview of the Machinery Industry" report has been added to ResearchAndMarkets.com's offering.

The Global Overview of the Machinery Industry offers a unique insight into key trends shaping the industry world-wide and in the largest markets.

The briefing examines how the machinery industry is performing globally and in the largest countries in terms of machinery output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.

Key Findings

Rising demand for innovative products

The rising focus on digital transformation in the agriculture, manufacturing and construction industries is leading to new product development across machinery manufacturers. New machinery products featuring the latest technology and advanced features help boost productivity, cut operating costs and reduce environmental impact.

Smart manufacturing

Industry 4.0 is revolutionising the way companies manufacture and distribute their products. New technology adoption helps machinery producers improve supply chain management, rearrange their industrial processes in more flexible and client-orientated ways, and enhance operational efficiency.

Improving supply chain resilience

Due to growing operational risks, the companies in the industry are expected to build more resilient supply chains through diversification and localisation. Machinery manufacturers are anticipated to diversify their supplier base instead of relying on a single supplier. In addition, greater localisation of supply chains helps reduce logistical costs, lessen environmental impact and ensure less disruption in product distribution.

Product-as-a-service business model

Machinery manufacturers are anticipated to focus increasingly on value-added services in order to maintain a stable revenue stream and differentiate themselves. The product-as-a-service model helps establish long-term partnerships with customers, acquire insights into customer needs and achieve synergies in product development and innovation.

For more information about this report visit https://www.researchandmarkets.com/r/7wrufy