Trends in the electronics industry 2020, which you must know
It is no surprise that the electronics industry is changing rapidly. It is essential to keep track of current trends and find the use of them in your business.
The Internet of Things
The technology, which has been around for years, is on the list of trends for 2020. The Internet of Things continues to spread around the electronics industry.
The main advantages of using technology for the electronics industry are increased efficiency, security, and cost reduction.
Also, connected devices have already proven their effectiveness in the decision-making process by providing real-time information. IoT, in combination with other technologies, will allow not only short-term but also long-term decisions to be made more effectively.
Shifting from B2B to B2B2C
For many years, electronics manufacturers have followed the B2B model. Recently, some manufacturers have switched to the "business-to-business-to-consumer" (B2B2C). That allows them to sell their products not only to companies but also to consumers.
What advantages does this bring? First of all, there is an increase in profits after excluding third parties – retailers. Besides, manufacturers provide themselves with quick access to the market.
It is necessary to use e-commerce platforms and logistics departments to implement this approach to the company's business.
We've already written about 3D printing and its implementation in production. First of all, the introduction of technology allows for reducing production costs. Also, employees can now quickly troubleshoot problems, which speeds up the prototyping process.
Manufacturers can avoid large-scale production and warehouse workloads. As a result, companies can engage in more projects or join MaaS (Manufacturing as a Service).
The implementation of 3D printing technology costs is expensive, but in a long-term prospect, it is an excellent investment.
For sure, in this article, we have covered not all trends of the upcoming year, but we have tried to cover the main of them. Follow the market forecasts to get ahead of your competitors and adapt to changes in the environment.
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