Dyson reaches record profits in 2017, hitting £801mn
The British home appliance manufacturer, Dyson, has released its 2017 Financial results, revealing that it’s profits hit a record high.
The company’s annual turnover grew by 40%, reaching £3.5bn (US$4.82bn), whilst its profits grew 27%, hitting £801mn ($1.1bn).
It is anticipated that the successful year was due to the company’s expansion across Asia, accompanied by its new ventures in technology.
The firm announced an investment of £330mn ($454.23mn) into its operations in Singapore, to enhance R&D and manufacturing capabilities, as well as opening a Technology Lab in China.
In Asia, and across the world, Dyson is currently aiming to increase awareness of air pollution caused by combustion engines.
73% of Dyson’s growth came from Asia, whilst Europe grew at 21% and the America’s grew at 19%.
In 2017, the firm produced its 100 millionth machine with a manufacturing volume boom hitting 80,000 machines a day.
Dyson’s direct retail double on a year-on-year basis, following the launch of 9 new Dyson Demo Stores.
In the past five years, the company has increased its UK workforce by 2.5 times as much, now employing 4,600.
The firm is looking to employ an additional 300 engineers to work on its electric vehicle project.
Dyson is also to invest £31mn ($42.67mn) to aid a shortage of engineers in the UK.
Four Factory of the Future Market Trends to Keep an Eye on
Global Smart Manufacturing Market
Attributed to the rapid growth in the adoption of automated systems in industrial processes, the is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026.
While COVID-19 has somewhat slowed down the market’s growth, it is expected that by the second to third quarter of 2023 there will be a ‘considerable’ rise in growth for the market.
Key players in the industry: Schneider Electric, General Electric, Siemens, Honeywell International Inc., Rockwell Automation Inc., FANUC Corporation, and Emerson Electric Co.
Industrial Automation Market
Making people’s lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value.
Key players in the industry: ABB, Siemens, General Electric, Schneider, Endress+Hauser, Yokogawa, Honeywell, WIKA, Azbil, Fuji Electric, 3D Systems, and HP.
Smart Factory Market
Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.
Other driving factors include resource optimisation, cost reduction in production operations, increased demand for industrial robotics, rising demand for technologies, and the growing significance of energy efficiency.
Key players in the industry: Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., Endress+Hauser AG, and Yokogawa Electric Corp.
Artificial Intelligence (AI) in Manufacturing Market
“It is undeniable that the manufacturing industry is at the forefront of artificial intelligence implementation,” says . “Manufacturers are using AI-powered analytics to increase performance, product quality, and employee protection, from substantial reductions in unplanned downtime to better crafted goods.”