Back to list August 06, 2019 Technology in the Industrial Sector In the industrial sector, technology provides a variety of opportunities for growth and success. The most exciting industrial technology to keep an eye on includes: On-demand warehousing: In high-cost areas and in industries where rapid delivery is essential, traditional warehouse leasing may not be viable. Already, there are alternatives, with flexible terms and vendors who can vet and provide short-term or non-traditional warehousing solutions for industrial clients. Multistory warehousing is also becoming a popular option for industrial businesses in high-cost areas and in areas where space is limited. Global connection: One trend we have seen in recent years in the industrial sector is reshoring, with companies bringing manufacturing back into the United States. Despite this, many companies remain global in scope and pursue global connections with talent and customers. Relying on the Internet of Things (IoT), or the connection of different technologies via the Internet, businesses in this sector are increasingly reaching out to a broader base of customers. Leveraging the power of cyberspace, they are also creating digital departments with global talent. Visibility for the lifecycle of a product: Companies are using technology to improve data gathering and use so they can better capture the lifecycle of a product and even capture how the product is used by consumers. Automation: The robotics field is already developing machinery that can pull shipments from trucks and into warehouses as well as robots to perform other industrial sector tasks. While full automation at the most advanced companies is still likely at least a decade away, each year brings exciting new inventions in this category. Industrial Technology in Cumberland County Technology in the industrial sector is important because it helps companies in this area of the economy become more efficient and more cost-effective. It allows companies to enhance competitiveness while resolving big challenges. In addition, technology can create better outcomes for many team members by reducing fatigue or reducing the risk of injury in some settings. For consumers, technology is important in industry because it allows for enhanced mobility, which could mean customers get products more quickly and at a better price. In Cumberland County, the industrial sector is growing, as is distribution, manufacturing, agribusiness and more. The area’s prime location, skilled workforce and quality of life are attracting businesses across all sectors. How Cumberland Area Economic Development Corporation (CAEDC) Can Help CAEDC offers a variety of services designed to help businesses navigate their path to success. CAEDC also has financing solutions to help businesses invest in the technology they need to compete within their industry. From linking you with government grants and incentives, to helping you navigate other solutions, CAEDC has the expertise to help. Since many companies in the industrial sector are also competing for skilled employees, CAEDC also offers workforce development services to help connect businesses with educational institutions, and help leadership connect with growing and new talent for the workplace. We also work with high schools and businesses to help foster a successful and skilled workforce for the future.