Manufacturing sector continues to serve as one of the fundamental pillars boosting economies in various countries. In the last decade, the adoption of several innovative approaches revolutionized this sector. Despite negative impacts of various global economic and financial events, technological advancements such as the Industrial Internet of Things (IIoT), analytics, and automation have led the manufacturing sector toward revolutionary transformation.
Moreover, the swift upgrading of capabilities of industrial machinery, systems, and equipment has led to improvements in workplace conditions. Government and regulatory bodies continuously focus on introducing improved policies, guidelines, and standards for workers; they encourage employers to adopt safety standards and automation, among others, for the same.
Presently, a significantly large number of market players provide an extensive portfolio of standardized as well as highly customized business offerings. As a result, the manufacturing industry can be broadly categorized into general engineering equipment & machinery, HVAC systems, industrial machinery, OEMs & manufacturing equipment, inspection & certifications, marine & shipbuilding, metals & mining, and safety equipment-based industry verticals.