Powered access: trends to watch in 2023

The current economic uncertainty and supply chain issues are causing headwind for the powered access industry in 2023. How can companies turn challenges into advantages and growth in the year to come?

While many trends in the powered access industry persist or have been steadily developing over a long time span, it's worthwhile to take a look at the industry landscape – especially since businesses continue to face big challenges and changes in 2023. Here are the trends we believe will impact companies the most.

Digitalisation

In the past few years, the importance of digitalisation has started to grow in the powered access industry. According to Deloitte's 2023 manufacturing industry outlook, companies that adopt emerging technologies and gain higher digital maturity have shown greater resilience. Dinolift's recent investments in telematics is one example how operations are becoming safer and more efficient through better use of data. The tracking of usage with solutions like MyDINO help rein in costs and offer better maintenance services for customers.

With the help of the Internet of things (IoT), the pay-per-use business model will become more widely applied in the manufacturing sector. Paying for the use of machines rather than having to make large investments also helps to minimize wasted resources, which can be a huge saving for companies. Virtual reality (VR) training programs will become increasingly available, which will enable companies to provide training that's affordable and accessible for more people. The International Powered Access Federation (IPAF) states that VR simulators enhance training and have the advantage of not putting the user at risk while allowing them to learn from mistakes.

MyDINO is a telematics tool that collects machine data and helps to increase the utilization rates of machines. Image credit: Renta

Safety

In the powered access industry, safety is always the top priority, and finding ways to improve it will continue in 2023. Data collected and analysed from machines will have a role in preventing future safety risks. The accident reporting portal maintained by IPAF collects data and provides crucial insight on the main causes of accidents and how to safeguard from them. But for more accurate insights, more data is needed regarding minor incidents and near-misses.

Preventing accidents and identifying safety risks will continue to be top of mind in 2023.
Image credit: Dinolift

Competing for talent

Finding the right skills and the right people has turned out to be a challenge across industries, and the difficulties are likely to continue going forward. In addition to workers retiring and the need to upskill the current workforce, the pandemic made a lot of people reconsider their careers. Dubbed first as the Great Resignation, then the Great Renegotiation, workers are not only quitting their jobs but also switching industries. McKinsey's 2022 survey, which was conducted in nine European countries, suggests that one in three workers are considering quitting their jobs in the next three to six months. Being aware of this shift in mindsets and the looming economic uncertainties, companies need to understand that the issues with finding the right talent aren't going away anytime soon.

One way to get out of the hiring rut could be to look to different employee groups to help fill jobs. But one thing is for certain; companies need to boost their employee value proposition in order to attract the right people. Improving work culture and inclusion, and offering adequate compensation and chances to grow professionally, will make way for a healthier foundation for any industry.

The importance of finding and retaining the right talent is increasing. Image credit: Dinolift

Sustainability and responsibility

Despite the economic slowdown and partially because of the current energy crisis, sustainability and renewable energy solutions will continue to make headway. Efficiency and cutting costs go hand in hand with lowering CO2 emissions, since optimizing production processes in turn supports these goals. For the powered access industry, investing in battery technology will be a large part of the green energy transition. The environmental, social, and governance (ESG) landscape may require close monitoring in 2023 since different sets of requirements are being set across the value chains.