The New Industrial Revolution

Author Peter Marsh, a veteran former Financial Times journalist, delves into industrial history in some depth to provide a context for what he believes will be the next industrial revolution.

Mass manufacturing began in the late 18th century and we are now, since about 2005, in the fifth period of change. Most of the important elements of change are related to the previous one, Marsh says, but now, multiples factors are taking effect at the same time, many of which are interrelated.

For example, there will be more opportunities for cus- tomisation, with many firms offering a mix of mass customisation and mass personalisation to widen choice. Development, production and service will be spread across a global value chain of operations, with opportunities in many countries. The possibilities for making and selling products in narrow niches, often widely spread, will be greater.

If countries are to succeed in this new order, Marsh says, there needs to be a greater em- phasis on deepening the role of technology, design and manu- facturing in national cultures.

There will also be immense opportunities for manufacturing to play a big part in boosting the global economy.