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7 key trends in the electronics industry and how to capitalize on them
Naturally there are many trends impacting the future of the electronics industry. These include personalization, digitalization, miniaturization, Industry 4.0, the Internet of Things and Big Data. But what are the key trends impacting manufacturers like Mycronic – and maybe even your business?
In this article series, we asked Mycronic experts around the world to gaze into their crystal balls and comment on key trends they see impacting our business right now. From the heart of Shenzhen to our head office in Stockholm and onward to Boston, you’ll get their first-hand and insightful accounts of the latest developments.
Read about the identified key trends and see how Mycronic is addressing them and how you can turn them into opportunities as well.
Key trend 1:
Automate or die: the brutal reality
As makers of automation technologies, it’s no surprise that we see automation as the number-one driver in our industry. What is interesting, however, is the speed, impact, and far-reaching implications of this global megatrend. Those who hesitate to get onboard risk being left behind.
Key trend 2:
5G technology fuels connectivity and innovation
For years, we’ve been hearing: “5G is coming and it’s going to transform our world!” Really? In what ways? Or is this just hype? According to Mycronic experts, no. New 5G technology, with up to 100 times faster speeds than today’s 4G, will open exciting new possibilities for consumers and businesses. And it’s already placing tough demands on manufacturers as well!
Key trend 3:
East and West: two ecosystems emerge
What’s going on in this crazy world of ours? Does the rise of populism, protectionism and polarization mean the end of multilateralism and globalization? The answer is “yes and no” but mainly “no” for the electronics industry. Mycronic sees a continued trend towards global, interconnected ecosystems, but there will be a clearer division between East and West.
Key trend 4:
Cars are smart phones on wheels – are you ready?
According to McKinsey, the tipping point in electric vehicle (EV) sales occurred in the fall of 2020 during the midst of the pandemic. Then, despite all the lockdowns, adoption edged up to 10% in some European countries. This signaled a clear shift in consumer behavior to sustainable mobility – further fueling the amount of electronic content required in cars.
Key trend 5:
AI is the secret weapon for higher productivity
There is nothing artificial about Artificial Intelligence (AI), according to Mycronic experts. This global megatrend is real, it’s sweeping across all industries, and it has the power to solve key manufacturing challenges. AI-tools allow for more precise manufacturing, removal of defects and predictive intelligence. And they keep on learning and getting better.
Key trend 6:
Growth of edge computing gives birth to regional data centers
When cloud-based services arrived, they were supposed to free us from the tyranny of rigid and inflexible premises-based IT solutions. And to a large extent they did, adding flexibility and driving down costs. But recently, due to the high volume of data and challenges with latency, security and privacy, many companies are realizing they need regional data centers, too.
Key trend 7:
Sustainability moves on up the priority list
For years, the electronics industry has gotten something of a “green pass” on the topic of sustainability. Digital transformation, new electronic devices and services were praised as the path to efficient, eco-friendly work patterns, particularly during the pandemic. This is now changing, Mycronic experts say.