OYSTER BAY, N.Y.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/industry4?src=hash” target=”_blank”gt;#industry4lt;/agt;–As Industry 4.0 progresses and more companies introduce more
transformative technologies in industrial applications, the demand for
ways to test the impact of those technologies in the digital world
before implementing them in the real world will continue to rise. Plant
simulation software for production and processes can help meet this
demand by using computer models to show how investing in new equipment
or technology could impact operations. Plant simulation software is
slowly gaining traction and revenues will reach US$4.1 billion by 2030,
finds ABI Research, a market-foresight advisory firm providing
strategic guidance on the most compelling transformative technologies.
“Most industrial companies and industrial engineers still try to solve
problems one-by-one,” explained Ryan Martin, Principal Analyst at ABI
Research. “For instance, they try to figure out how many Automatic
Guided Vehicles (AGVs) they need, then they try to figure out what type
of robot to purchase, then they try to figure out where to place the
Computer Numerical Control (CNC) machines, and so forth. Plant
simulation software requires a more holistic and more collaborative
approach.”
Fortunately for plant simulation software vendors (including AnyLogic,
Arena, Aspen Technology, AVEVA, Dassault Systèmes, MathWorks, Siemens,
and Simio), as the Industry 4.0 movement progresses, more industrial
companies are creating technology transformation teams (aka Industry 4.0
teams, Advanced Manufacturing teams, Digital Technology teams, etc.).
This means more companies are actively looking for new technologies to
deploy and scale them with a more complete vision of how technology fits
in with enterprise operations. As more companies form these teams, more
will adopt simulation software for manufacturing systems.
Industrial companies have formed these technology transformation teams
because the synergies between many emerging transformative technologies
presented themselves. No single technology drives this movement, but
simulation software holds the potential to act as a catalyst for a whole
host of them. If simulation software can accurately predict the effects
of other technologies on the core goals of manufacturers (i.e.,
more production, more uptime, improved time to market, improved quality,
fewer delays, more efficiencies, greater utilization of assets, all at
lower costs) then industrial companies will deploy more technologies at
scale with greater confidence with fewer delays. Right now, industrial
companies have an interest in many technologies such as 5G and private
LTE (and other forms of connectivity), additive manufacturing,
artificial intelligence applications, augmented reality applications,
autonomous material handling robots and AGVs, CNCs and other reductive
and casting manufacturing methods, cobots and industrial robots,
location and asset management applications and metrology and inspection
equipment on the line, but they often hesitate to deploy them without
any assurance that they will provide the promised benefits. Simulation
software can help provide that assurance by demonstrating different
deployment scenarios or mixes of technologies on the factory floor.
Despite some progress including more technologies and models of
equipment such as robots, vendors can still do more to include
transformative technologies. “To get to the stage where plant simulation
software accurately incorporates transformative technologies and stays a
step ahead of the market while simplifying the user experience, vendors
need to continuously hunt down new equipment and technology to include
in the simulations, participate in more PoCs and pilots, and start
incorporating machine learning and artificial intelligence techniques,”
concluded Martin.
These findings are from ABI Research’s Manufacturing
Plant Virtualization, Visualization and Simulation application
analysis report. This report is part of the company’s Industrial
Solution, which will help manufacturers digitize operations to
create better quality products at lower costs. Based on extensive
primary interviews, Application
Analysis reports present in-depth analysis on key market trends and
factors for a specific application, which could focus on an individual
market or geography.
About ABI Research
ABI Research provides strategic guidance for visionaries needing market
foresight on the most compelling transformative technologies, which
reshape workforces, identify holes in a market, create new business
models and drive new revenue streams. ABI’s own research visionaries
take stances early on those technologies, publishing groundbreaking
studies often years ahead of other technology advisory firms. ABI
analysts deliver their conclusions and recommendations in easily and
quickly absorbed formats to ensure proper context. Our analysts
strategically guide visionaries to take action now and inspire their
business to realize a bigger picture. For more information about
subscribing to ABI’s Research Services as well as Industrial and Custom
Solutions, visionaries can contact us at +1.516.624.2500 in the
Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or
visit www.abiresearch.com.
Contacts
Global
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com