Business View Magazine | Volume 8, Issue 10

14 BUSINESS VIEW MAGAZINE VOLUME 8, ISSUE 10 can find death time, loopholes, and even a better way to manage productivity. Having connected operations leads to all this big data. The ability to collect data from a wide variety of sources, real-time, allows for businesses to get a clearer picture of exactly what their company is doing. This allows for better forecasting and planning models, which will lead to more money in the long run. 5. Industry 4.0 This term was coined to describe the current trend towards ‘smart factories’ in manufacturing. It’s shorthand for the fourth industrial revolution. Many of the current industry trends help contribute to making Industry 4.0 possible, like IIoT, the cloud, and the human work force all work together to create Industry 4.0. And this trend shows no sign of slowing down in 2022. 6. Shifting focus from B2B to B2C The manufacturing industry is becoming less business-to-business focused and more business-to-consumer focused. This has several benefits including increased profits, brand control, and better customer data. This trend is set to continue as more companies look for ways to recoup costs from the global pandemic. 7. Onshore instead of offshore This debate has been around for the past 20 years, but due to the recent Covid-19 pandemic, many companies are going back to onshore manufacturing in the USA. The rising fuel costs, global trade shutdowns, and new tax incentives were enough to lure a lot of the industry back onshore. Also, having more AI solutions negates the high labor cost. 8. VR and AR in industry Industrial manufacturers will continue to use VR and AR in their daily operations, especially in field service management, where service technicians can use both to conduct guided repairs remotely in certain countries or for particular products. This keeps employees safer and less at risk, while also saving the company time and money in the long run. This trend is set to continue for many years to come, as both these technologies continue to improve. These 8 trends will continue to be top of the list in the industry and manufacturing fields for 2022 and for long into the future of this field. *George J. Newton is a content writer and business development manager for Write my coursework and Thesis writing service .