Digital Trends in the Manufacturing Industry, Global, 2019

Digital Trends in the Manufacturing Industry, Global, 2019

Gain a 360 Degree Perspective on Critical Success Factors

RELEASE DATE
03-Jun-2020
REGION
Global
Research Code: 9AC2-00-57-00-00
SKU: IT04129-GL-MR_24436

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Description

Key Benefits of this Study:
Identify key business objectives in this industry and industry challenges
• Discover IT investment opportunities to address these objectives and challenges; find technologies that have been proven to reduce costs and generate revenue Benchmark with competition and other industry leaders
• Learn new ways to improve customer experience
• Determine successful strategies to develop and retain a best-in-class workforce
• Facilitate your digital transformation journey

The overall research objective is to measure the current use and future decision making behavior toward information technology (IT) around the globe in the Manufacturing industry, specifically: Enterprise Mobility Management, Digital Commerce, Unified Communications & Collaboration (UCC), Infrastructure and Data Centers, Cloud Communications, Analytics, Digital Marketing Solutions, Customer Experience Management, Cyber Security, Artificial Intelligence, Internet of Things, Blockchain (DLT), and Enterprise Information Management.
Frost & Sullivan aims to:
• Understand the IT-related challenges organizations face today
• Monitor the status of digital transformation
• Assess the current and future use of business communications technologies
• Evaluate factors that drive investments in communications technologies
• Gauge IT and communications trends

Manufacturing has been one of the most negatively impacted industries by the Covid-19 virus. The challenges that this industry was already facing have been amplified and new ones have emerged, making investments in digital solutions crucial to survive the next year. Safety standards now include social distancing, making production even more costly, especially for high-touch assembly lines. Travel has been limited for product managers, making quality control, and speed of production difficult. A major challenge in this industry has been building trust among all parties in the supply chain. Existing approaches cannot keep up with increasing customer demand due to the shift to on-line purchasing, which requires delivery to the door. In addition, production is often being shifted to make essential goods.

Improving customer experience was a top priority pre-Covid-19 as the need to meet customers’ demand for faster product delivery and quicker/better customer service became vital to gain a competitive edge. With more urgent matters taking precedence at the current time, this will be a lower priority. However, early adopters of transformative technologies are already gaining a competitive advantage; so this goal still needs to be top of mind.

With the right technologies in place, many of these obstacles can be tackled. This study covers the benefits of transformative IT/telecom technologies.

• Respondents ranked improving customer experience (CX) and satisfaction (42%), improving operational efficiencies (41%), and launching of new products and services (40%) as the top three business objectives for 2020. IT/Telecom investments in CX is a top priority as well, although this may slip in ranking in the near term due to other Covid-19 essential needs.

•Among transformative technologies, IoT is used by 68% of the respondents followed by AI (63%), and blockchain (51%). About 9% of respondents are not using any of these solutions.

• Improving the quality of products and services is the top reason for investments in IoT and AI. The cost of integration of these technologies is a main obstacle.

• Blockchain is expected to improve operational efficiencies, both internally and externally. The complexity of developing this solution is the top barrier.

• Investments in digital solutions will be accelerated so that manufacturing companies can survive the massive losses resulting from Covid-10 and to better manage future disruptions.

• Moving applications and databases to the cloud will be a key strategy over the next two years. Standards and policies in manufacturing operations can be synchronized in plants located in different countries. This will enable manufacturers to be more flexible and agile and take advantage of continuously updated and secure networks. This also allows companies to track data remotely and share information across the organization as well as with customers, distributors, and suppliers.

Table of Contents

Customer Research Objectives, Global, 2019

Research Methodology, Global, 2019

Benefits of this Analysis, Global, 2019

Survey Methodology, Global, 2019

Respondent IT Decision Maker Profile, Global, 2019

Respondent IT Decision Maker Profile, Global, 2019 (continued)

Respondent IT Decision Maker Profile, Global, 2019 (continued)

Covid-19 Impact on Manufacturing, Global, 2020

Covid-19 Impact on Manufacturing, Global, 2020 (continued)

Executive Summary, Global, 2020

Executive Summary, Global, 2020 (continued)

Business Objectives, Global, 2019 to 2020

Business Objectives by Region, Global, 2019 to 2020

Business Objectives by CEO vs. CTO/CIO, Global, 2019 to 2020

Top IT Challenges, Global, 2019 to 2021

Top IT Challenges by Business Size, Global, 2019 to 2021

Top IT Challenges by Region, Global, 2019 to 2021

Top IT Challenges by CEO vs. CIO/CTO, Global, 2019 to 2021

Top IT Drivers, Global, 2019 to 2021

Stage of Digital Transformation, Global, 2019

Top Business Processes to be Impacted by Digital Transformation, Global, 2019

Measuring Digital Transformation Success, Global, 2019

IT/Telecom Solutions Used Today, Global, 2019

IT/Telecom Solutions Investment Plan, Global, 2019

Primary Purchasing Channels of IT/Telecom Products/Services, Global, 2019

Factors Responsible for IT/Telecom Purchase Decisions, Global, 2019

Top Solutions at Risk of Being Replaced, Global 2019

Top Reasons for Installed IT Products to be Replaced, Global 2019

Top Security Concerns Regarding IT, Global, 2019

Key Technology Investments, Global 2018 to 2021

Digital Transformation in Use Today, Global, 2019

Digital Transformation Investment Plans Among Users, Global, 2019 to 2022

Digital Transformation Deployment Channel, Global, 2019

Stage of Digital Transformation, Global, 2019

Competitive Advantage of Digital Transformation, Global, 2019

Top Reasons for IoT Investment, Global, 2019

Top Concerns Regarding IoT, Global, 2019

Top Reasons for Investment in AI, Global, 2019

Top Concerns Regarding AI, Global, 2019

Top Reasons for Investment in Blockchain, Global, 2019

Top Concerns Regarding Blockchain, Global, 2019

Annual Revenues, Global, 2019

Company's Revenue Growth, Global, 2018 to 2019

IT/Telecom Budget, Global, 2019

IT/Telecom Budget Trends, Global, 2020

Company's Global IT Budget Allocation, Global, 2019

Growth Opportunities Post-Covid-19, Global, 2020

Growth Opportunities Post-Covid-19, Global, 2020 (continued)

Growth Opportunities Post-Covid-19, Global, 2020 (continued)

The Last Word—Three Big Predictions

Legal Disclaimer

Frost & Sullivan Digital Transformation Framework

Digital Transformation Framework—Digital Ecosystem

Digital Transformation Framework—Business Functions

Digital Transformation Framework—Business Models

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Key Benefits of this Study: Identify key business objectives in this industry and industry challenges • Discover IT investment opportunities to address these objectives and challenges; find technologies that have been proven to reduce costs and generate revenue Benchmark with competition and other industry leaders • Learn new ways to improve customer experience • Determine successful strategies to develop and retain a best-in-class workforce • Facilitate your digital transformation journey The overall research objective is to measure the current use and future decision making behavior toward information technology (IT) around the globe in the Manufacturing industry, specifically: Enterprise Mobility Management, Digital Commerce, Unified Communications & Collaboration (UCC), Infrastructure and Data Centers, Cloud Communications, Analytics, Digital Marketing Solutions, Customer Experience Management, Cyber Security, Artificial Intelligence, Internet of Things, Blockchain (DLT), and Enterprise Information Management. Frost & Sullivan aims to: • Understand the IT-related challenges organizations face today • Monitor the status of digital transformation • Assess the current and future use of business communications technologies • Evaluate factors that drive investments in communications technologies • Gauge IT and communications trends Manufacturing has been one of the most negatively impacted industries by the Covid-19 virus. The challenges that this industry was already facing have been amplified and new ones have emerged, making investments in digital solutions crucial to survive the next year. Safety standards now include social distancing, making production even more costly, especially for high-touch assembly lines. Travel has been limited for product managers, making quality control, and speed of production difficult. A major challenge in this industry has been building trust among all parties in the supply chain. Existing approaches cannot keep up with increasing customer demand due to the shift to on-line purchasing, which requires delivery to the door. In addition, production is often being shifted to make essential goods. Improving customer experience was a top priority pre-Covid-19 as the need to meet customers’ demand for faster product delivery and quicker/better customer service became vital to gain a competitive edge. With more urgent matters taking precedence at the current time, this will be a lower priority. However, early adopters of transformative technologies are already gaining a competitive advantage; so this goal still needs to be top of mind. With the right technologies in place, many of these obstacles can be tackled. This study covers the benefits of transformative IT/telecom technologies. • Respondents ranked improving customer experience (CX) and satisfaction (42Percentage), improving operational efficiencies (41Percentage), and launching of new products and services (40Percentage) as the top three business objectives for 2020. IT/Telecom investments in CX is a top priority as well, although this may slip in ranking in the near term due to other Covid-19 essential needs. •Among transformative technologies, IoT is used by 68Percentage of the respondents followed by AI (63Percentage), and blockchain (51Percentage). About 9Percentage of respondents are not using any of these solutions. • Improving the quality of products and services is the top reason for investments in IoT and AI. The cost of integration of these technologies is a main obstacle. • Blockchain is expected to improve operational efficiencies, both internally and externally. The complexity of developing this solution is the top barrier. • Investments in digital solutions will be accelerated so that manufacturing companies can survive the massive losses resulting from Covid-10 and to better manage future disruptions. • Moving applications and databases to the cloud will be a key strategy over the next two years. Standards and policies in manufacturing operations can be synchronized in plants located in different countries. This will enable manufacturers to be more flexible and agile and take advantage of continuously updated and secure networks. This also allows companies to track data remotely and share information across the organization as well as with customers, distributors, and suppliers.
More Information
No Index No
Podcast No
Author Alpa Shah
Industries Information Technology
WIP Number 9AC2-00-57-00-00
Is Prebook No
GPS Codes 9705-C1,9AA5-C1,9658,9855-72,9A3A,9B07-C1