OKW Enclosures’ president, Sean Bailey, forecasts growth for 2024 in two key markets: medical devices and measurement electronics
Both medical devices and measurement electronics have always been important sectors for the Pittsburgh-based manufacturer of standard and customized enclosures and tuning knobs. Last year OKW’s work on medical electronics projects virtually doubled.
Sean said: “Medical technology is a market being driven by rapidly accelerating innovation and by global demographic changes. People are living longer and requiring more medical care in their later years. This is boosting demand for healthcare, social care and wellness electronics.”
Meanwhile, OKW sees growth in measurement technology as all but inevitable due to the rise of Industry 4.0. Sean added: “Measurement is now more important than ever because data is the lifeblood of IIoT. Smart factories create huge amounts of data, all of which must be measured and managed to optimize processes.
“IIoT will accelerate the evolution of traditional manufacturing. It’s also likely to have a halo effect on other parts of the economy as greater use of data creates wider opportunities for innovation.”
In recent years, electronics manufacturers have been forced to endure significant volatility in component availability. Shortages were followed by a surge in supply as the market played catch-up after Covid. Next year is likely to be equally challenging in its own way, predicts Mr Bailey. He talks about ‘pent-up demand’ and foresees an ‘exciting 2024.
In recent years, judicious purchasing of raw materials ensured OKW was always able to keep customers fully supplied—even in the worst days of Covid lockdown. If demand increases next year, and component availability becomes an issue, other suppliers may have to follow OKW’s prudent example.