The Asian country’s machine tool industry is poised for growth in the background of the government’s noble initiatives and ever active industry. The automobile, aeronautical and medical sectors are expected to generate a significant demand in the near future.
Change is constant and one has to adapt and adhere to them if they intend to succeed. The same applies to the machine tool industry. Industry 4.0 and IoT (Internet of Things) play a vital role in today’s manufacturing scenario. In the further developed world which comprises of the Americas and European region the growth of these two segments has been significant. However, when we turn towards the Asian region the vast majority of the machine tool industry is still struggling with implementing Industry 4.0 in its production line.
Japan is one country in the region that is known for producing quality products for the machine tool sector. To keep this momentum going further and to stay ahead of its global competitors, the Japanese government is promoting the concept of ‘Connected Industry’ for the future of the country’s industries. Through the Connected Industry initiative, the government has also collaborated with the private industry to encourage the usage of Industry 4.0 and IoT among its domestic players.
The government also intends to figure out different measures for the development of IoT in its shop floors. Some of the major Japanese players offering Industry 4.0 solutions include Yamazaki Mazak Corporation, DMG Mori Seiki Co., Fanuc, and many others.
The importance of Industry 4.0 and IoT in the Japanese market can be understood by a report by the Ministry of Economy, Trade and Industry (METI). It states that Japan aims to identify and overcome any and all systemic challenges to the society by taking advantage of technological innovations, including IoT, big data, artificial intelligence (AI), and robots; direct such achievements toward Japan’s economic growth, and achieve a more affluent society that each and every person can enjoy.
In terms of production output, China holds the first rank followed by Germany and Japan. In the export scenario, Germany holds the first rank ahead of Japan and Italy. Japan’s machine tool sector is optimistic about the increasing demand from the automobile, aeronautical and medical sectors in the near future.
In addition to this, the Asia is undertaking many other initiatives to uplift the countries' machine tool sector including hosting JIMTOF – the international machine tool fair in Tokyo. The exhibition will take place from November 1–6, 2018 across an area of 98,540 sq m and is expected to showcase a range of the latest technologies and solutions in the machine tool sector.
The Japan machine tool sector is upbeat and with so many activities taking place in the country the industry is surely expected to surge ahead!