Frost Radar™: Manufacturing Excellence, 2024

Frost Radar™: Manufacturing Excellence, 2024

Sustainability, Industry 5.0, and an Evolving Geopolitical Landscape to Transform Manufacturing Growth

As geopolitical tensions continue to disrupt critical supply chains and cloud global economic prospects, countries are increasingly working toward building robust multi-industry domestic manufacturing capabilities. While this trend is witnessed across many countries, emerging economies such as India, China, Indonesia, Vietnam, and Mexico are, particularly, benefitting from the emphasis on manufacturing-driven economic growth modeling. With a huge demographic dividend, competitive labor costs, availability of integrated infrastructural facilities, strategic geographic locations, and prudent macroeconomic conditions, these countries are steadily positioning themselves as go-to manufacturing hubs.

During the long term, manufacturing processes will undergo massive transformation as concepts such as sustainability, Industry 5.0, cybersecurity, and talent retention gain major impetus. Along with accelerating the transition to high-tech manufacturing ecosystems, these factors will maximize per capita manufacturing efficiency, lower operating costs, improve labor productivity, and incubate new manufacturing-based growth opportunities.

This macroeconomic thought leadership provides a snapshot of the future growth potential for the global manufacturing industry as well as country-specific analysis of manufacturing capabilities. Decision-makers and businesses can leverage insights into regional growth opportunities that will emerge in the manufacturing sector because of structural shifts in the global economy and changing geopolitical relations.