FACTORY OF THE FUTURE
THE SCALE OF THE SKILLS SHORTAGE
The World Economic Forum predicts a shortage of more than 7 million skilled manufacturing workers by 2030 .
According to McKinsey , a massive 87 % of businesses report that they are either facing a skills shortage or expect to do so in the next five years .
Deloitte estimates that the skills gap could cost the US alone US $ 2.5tr over the next decade .
On top of this , up to 25 % of the manufacturing workforce will retire in the next decade , draining decades of expertise .
“ These workers are the heart of every business , directly building and delivering products and serving customers and employees . Over 25 % of the current manufacturing workforce is 55 + years old and on the cusp of retirement and they are not alone in a rapidly ageing workforce .
“ At the same time , unplanned downtime due to operational or quality mishaps , increased concerns for worker safety , and increased complexity are all increasing the demand for innovation .”
Tim Gaus , Smart Manufacturing Business Leader at Deloitte agrees . “ The skills gap