Study by RS Components Says U.S. & Canada Among the Top 10 countries for future production capability
FORT WORTH, TEXAS, USA, November 12, 2019 /EINPresswire.com/ — It’s fair to say that the Fourth Industrial Revolution is upon us. A way of describing the blurring of boundaries between the physical, digital, and biological worlds, the Fourth Industrial Revolution is a mixture of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies.
While no one can precisely predict the future, countries are already adopting these emerging technologies, increasing productivity and transforming production systems. Using data from the World Economic Forum’s ‘Readiness for the Future of Production’ report, RS Components has released a report examining which countries are leading the way when it comes to driving production forward, evaluating them through six main drivers: ‘Technology & Innovation’, ‘Human Capital’, ‘Global Trade & Investment’, ‘Institutional Framework’, ‘Sustainable Resources’, and ‘Demand Environment’.
Based on an indexed scoring system of the WEF data, the U.S. takes the crown as the current leading country driving the future of production forward, scoring at the high end of the spectrum on all six categories of analysis. North America was further represented in the top 10 of the report by Canada, which ranked seventh overall. On the strength of its advanced chemical and petroleum manufacturing sectors, Asian economic powerhouse Singapore ranked second overall and the UK ranked fourth
Although these countries took the top spots, rapidly emerging technologies on the whole are transforming production globally. This will affect not only consumers, but businesses and countries all around the world as we embrace the changes to come.
Learn more about the study and view the entire data set here. For more content on the evolution of the global manufacturing and engineering supply chain, follow RS Components Americas on LinkedIn, Twitter, & Facebook.
About RS Components
RS Components is a trading brand of Electrocomponents plc. We offer more than 500,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of value-added services to over one million customers. With operations in 32 countries, we ship more than 50,000 parcels a day.
We support customers across the product life cycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimizing inventory in the maintenance phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
Electrocomponents is listed on the London Stock Exchange and in the last financial year ended March 31, 2019 reported revenue of £1.88 billion. Electrocomponents has seven operating brands: RS Components, Allied Electronics & Automation, RS PRO, OKdo, DesignSpark, IESA and Monition.
Source: EIN Presswire