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Future of the Manufacturing Industry with the Paradigm Shift in the Industry and Strategy

Author Dong-hyeok Seo, Yun-hee Choi, Gyeong-yu Kim, Sang-hun Kim,Won-shik Hwang, Nam-hee Choi Date 2016.02.01 Page 39
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The emergence of Apple’s iPhone revolutionized the manufacturing sector, ushering in sweeping changes into production, management, and market rules. Just as the evolution of digital technology has transformed the core technologies and capabilities of manufacturing, a rapid transition of values is now afoot, from technology orientation to customer orientation, from cutting-edge techniques to diversity and user-friendliness, and from exclusivity and individuality to openness and compatibility. The pace of this transition will only accelerate in the coming years.
The so-called “third industrial revolution,” spearheaded by information and mobile technologies, will give way to a fourth, in which all products and technologies will become connected largely through the Internet of Things (IoT) and robotics. It will support the “Second Machine Age” and the coexistence of humankind and machinery, while 3D printing, big data, the IoT, intelligent and
Future of the Manufacturing Industry with the Paradigm Shift in the Industry and Strategy
Dong-hyeok Seo, Yun-hee Choi, Gyeong-yu Kim, Sang-hun Kim,
Won-shik Hwang, Nam-hee Choi

emotional robots, and cognitive convergence will become the new bases of innovation. With greater convergence heralding the dawn of this new smart age, manufacturing will flourish not through distinctiveness or simply touting more high-tech, but through its capabilities for customer value maximization, mass customization as opposed to mass production, and openness and compatibility as opposed to product exclusivity.
In enhancing the competitiveness and sustainability of manufacturing, it is critical to proactively meet the new challenges presented by this industrial paradigm shift with strengthened core capabilities. This study analyzes the likely trends and developments of four prospective industries in the next 10 to 15 years, and then uses the analysis to forecast the future of manufacturing. The four industries subjected to our analysis are in their incipient or emerging phases and are expected to shape the future of manufacturing?namely, futuristic (smart) cars, convergence materials, convergence-based bio and smart healthcare (biomedical services), and IoT and IT convergence.