In a global manufacturing outlook report, 49 per cent of manufacturers surveyed were reported to be investing six per cent of their revenues in research and development and innovation, in a push to transform their businesses.
Asian manufacturing companies surveyed exhibited the highest investment expectations, with a majority of respondents from China, Japan and India indicating they would spend more than six per cent of their revenues on technology and innovation.
Twenty-five per cent of the respondents have already poured investment in avant garde technologies such as 3D printing.
Riding on a wave of renaissance in the industry, MTA2017 – Asia’s premier manufacturing technology industry event returning from 4 to 7 April at the Singapore Expo, will kick off a host of new features:
- The Optics & Photonics Innovation Hub;
- The Semiconductor Innovation Centre; and a
- 3D Printing Seminar.
William Lim, project director of machinery events at Singapore Exhibition Services, organiser of MTA2017, says: “As manufacturing continues to evolve and value creation has become an integral component of the change process, many traditional manufacturing businesses in the Asian region need to become agile and embrace change.
“The new features, along with the recurring Capabilities Hub, are designed to serve industry players who are looking to leverage on technology and innovation to maintain their market leadership and stay ahead of the change curve.
“More importantly, the newfound knowledge and skillsets will ensure that companies and their workforce will be well-positioned for growth opportunities in the new manufacturing era.”