IOT
technology is adopted and implemented by steel product manufacturing companies
to shorten production times and improve quality of the products. IOT connects
people, machines, and services enabling the flow of information and real-time
decisions. IOT technology offers benefits such as increased asset uptime,
efficient predictive maintenance and faster processing and delivery time. For
example, JFE Steel announced a move to standardize its core platform across all
factories, using Internet of Things (IOT) technology to connect facilities and
improve efficiency.
THE BUSINESS RESEARCH COMPANY
VALUED THE STEEL PRODUCT MANUFACTURING GLOBAL MARKET AT
$151 BILLION IN 2017
Asia Pacific was the largest
geographic region in the market, accounting for more than one-third of the
global market. China was the largest country accounting for nearly one-fifth of
the global steel product manufacturing market.
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According to The Business
Research Company’s Consultant, Nitin Gianchandani, automation has drastically
changed the outlook of steel product manufacturing industries. It has helped
the metal shops to simplify the act of cutting and bending sheet metal, thereby
shortening the overall operations and improve the order-to-ship cycles. Additionally,
automation has allowed manufacturers to cut metals without human supervision
for days at a stretch and consequently save metal fabricators a large part of
human resources cost. This will increase the production and quality, so
companies are adopting Artificial Intelligence to increase their revenues.
Download a sample of the report at: https://www.thebusinessresearchcompany.com/sample.aspx?id=120&type=smp
Arcelor
Mittal was the biggest player in the steel
product manufacturing global market, with revenues exceeding $56 billion
in 2016. Arcelor Mittal’s growth strategy aims
at manufacturing lighter steel to keep pace with the increasing demand for
lighter vehicles from automobile manufacturers.
Steel
product manufacturing includes establishments engaged in producing tubes and
pipes from iron and steel, shapes drawn through rolling or drawing of purchased
iron or steel and drawing steel.
Steel
Product Manufacturing Global Market Report 2018 is a detailed report giving a
unique insight into this market. The report is priced at $4000 for an
individual user. To use across your office, the price is $6000 and $8000 if you
wish to use across a multinational company.
About The Business Research Company
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