Faced with challenges from rising costs, growing competition and the need to raise productivity, manufacturers have begun assuming greater technological leadership, especially in converging high-end manufacturing equipment with next-generation ICT.
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One of the key drivers of the Singapore economy, the manufacturing industry contributes about 20 to 25 per cent of its Gross Domestic Product (GDP).
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The International Federation of Robotics states that demand for industrial robots will continue at an average annual growth rate of 12 per cent between 2015 and 2017.
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According to Mr. Achuthashankar, manufacturers must be able to accept and embrace Industrie 4.0 (The 4th Industrial Revolution) to stay competitive and succeed in future.
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Analysts have forecast that the global 3D printing market will reach US$8.6 billion by 2020, with a CAGR of 20.6 per cent from 2014 to 2020.
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MTA2015, Asia's premier precision engineering industry event, will return from 14 to 17 April next year at the Singapore Expo.
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