The global technological landscape is fast advancing, particularly in the machine tool industry. The difference, this time, is the speed of change. And to remain competitive in the global markets, it is imperative that manufacturers keep track of :
The R&D initiatives of leading players
Anticipated developments – by end-users, design and product segments
Technology substitutions and innovations expected in the short- to medium- to long-term (over the next 5,10 & 20 years)
Current state of technology in producing countries such as China, Germany, Italy, Japan, USA
Our client, the apex body representing the machine tool industry in India, was looking for inputs that would provide an impetus to the industry’s growth and development, with a particular focus on the metal cutting and metal forming industry.
Delphi technique for technology forecasting
ValueNotes presented a possible future scenario of the metal cutting & metal forming industry. Inputs were sought from industry experts, researchers, academia, manufacturers and end-user industries from across the globe.
To establish whether the advances in technology in the industry were satisfying the needs of the end-users, we interviewed senior executives from various manufacturing industries (including auto & auto components, aerospace, defense, heavy engineering, bio-medical engineering, etc). This demand side analysis provided insights into the typical buying behavior of each user segment, and helped us present a need gap analysis.
For the technology forecasting study we used the Delphi technique, the most suitable method for consensus-building. A broad framework of our approach is illustrated below:
Indian machine tool companies are now more aware of technologies needed to compete in the global market
Based on ValueNotes’ in-depth industry report, machine tool companies have a comprehensive roadmap on technology trends for metal cutting & metal forming. This allows them to tailor their strategies to tap specific market niches.
Report titled “Technology Forecasting Report on Metal Cutting & Metal Forming” is available for sale here