Manufacturing

Nichetech develops solutions for digital transformation of businesses in the manufacturing sector. We have helped several manufacturing concerns in optimizing operations, tracking workforce, gearing up marketing efforts and boosting the overall productivity.

 

  • Digital marketing
  • Process optimization
  • Responsive online portal development
  • On-site workforce tracking and management

LET'S BUILD AN APPLICATION

Market Overview

The manufacturing industry has experienced steady growth in recent years, driven by a number of factors including increasing global demand for goods, technological advancements, and improvements in production efficiency.
Manufacturing Production in India averaged 5.88 percent from 2006 until 2022. If According to data from the National Association of Manufacturers (NAM), in the United States, the manufacturing sector has an economic impact of $2.33 trillion in 2020, representing 11.9% of GDP. 

Manufacturing is the largest sector of the economy in terms of GDP and directly employs over 12 million people, with an additional 17.6 million jobs in supplier and indirectly related industries. The Institute for Supply Management (ISM) also reported that manufacturing activity hit a new high in December 2020 and continues to expand in early 2021. 

Also, in terms of export, the manufacturing industry accounted for $1.5 trillion of total U.S. exports in 2020, supporting 11.7 million jobs through export-supported employment. These numbers show the important role that manufacturing plays in the economy, providing both jobs and contributing to GDP.

Increasing Demand for Goods

One of the key drivers of growth in the manufacturing industry is increasing demand for goods from both domestic and international markets. As economies around the world continue to grow and more people enter the middle class, there is a greater need for manufactured goods such as cars, appliances, and electronics.

Technological Advancements

Another important factor is technological advancements, which have led to improvements in production efficiency and the ability to produce goods at a lower cost. For example, the use of automation and robotics in manufacturing has led to higher productivity, faster production times, and lower labor costs.

Industry 4.0

In addition, the manufacturing industry has been impacted by Industry 4.0 the trend of automation and data exchange in manufacturing technologies and operations, it includes cyber-physical systems, the Internet of things and cloud computing

Challenges

However, factors such as trade tensions and supply chain disruptions can also impact the growth of the manufacturing industry. Despite these challenges, the overall trend in the manufacturing industry has been one of steady growth, and many experts believe that this growth will continue in the coming years.

Pandemics Impact

It's worth mentioning that the pandemics has affected greatly the manufacturing, with lock-downs and closure of businesses some of the companies has seen an impact on their production and logistic chains, with delays on products and materials, also has affected the way companies operated, with the implementation of remote working and automation of processes to avoid contamination. In general, the manufacturing industry is an important driver of economic growth and job creation, and continues to be a vital part of many countries' economies.

Our Portfolio

img
TESTIMONIALS

Our clients praise us for our great results

Latest from blog

Read stories, tips, and our opinions on everything

Get updated with the latest trends in technology and know how your business can benefit from these technologies.