Europe witnessed many significant changes which have facilitated some of the most sustainable and competitive economies. In the year 2020, Europe is heading towards digitization with the plan for R and D finding and COP 21 for climate change which is a long term strategy which can be tricky down to the manufacturing sector. There are many technological innovations they are heading towards, which can be the reason for the right innovations which can have a productive outcome.
With all of the funding R&D development, we see that there is an allocation of approximately $17 billion on their budget. It is taken that manufacturing industry will see a lot of activities and advancement in computer and sensor technologies. The factor of the equation can easily grow information which can help them communicate better. There is also a 5G rollout plan which can help bring truth the vision allowing to connect these enterprises.
Nearshoring in the East
European countries like Poland, the Czech Republic, Hungary, Romania, Turkey, which can become a major hub for many of the manufacturing innovation that is happening. As there is an easy way to access the money here is a lot of innovation which can grant them cash and also tax incentives. Poland is still the largest and the strongest growing economy which can see advancements in the manufacturing industry.
Energy and Geopolitics
From purely a political standpoint the lifting of Iran Sanctions. The countries of Russia and China are coming together, which can have the right economic climate in both countries. There would be a lot of cheaper dumping goods which can be seen in the steel industry. The country of Iran can also provide a lot of growth opportunities for Russia and China which can have an aviation, automotive and shipping opportunities.
Carbon Neutral Manufacturing
One of the major ways to curb climate changes is going to be the introduction of COP21. This is one way they are trying to make sure that they can optimize the energy consumptions, which is plant and focuses on the electricity which forms a renewable source. The Europen Union is aiming to ensure that it can reduce at least 40% of the carbon emissions and green house effects. The main solution they have come up with is by providing carbon neutral manufacturing. This strategy is to de-carbonize by using intelligent distribution centres which can enforce sustainable power generation. This will lead to the creation of low power transmission systems which can later be shared by the organizations.
With the changes that Europe is undergoing right, they are undergoing a huge structural shift which has seen a spike in the highly skilled workforce. They try to make sure that there is dynamic work which works by the context, skill development which becomes a core part of the operational policy.