New State of Smart Manufacturing Study Finds More Than 44% of European Manufacturers Struggle to Outpace Competitors Due to Lack of Skilled Workforce
BRUSSELS, March 22, 2023 /PRNewswire/ -- Rockwell Automation, Inc. (NYSE: ROK), the world's largest company dedicated to industrial automation and digital transformation, today announced the results of the 8th annual study, "The State of Smart Manufacturing," offering valuable insights into trends, challenges, and plans for global manufacturers. The global study surveyed more than 1,350 respondents from 13 countries, including several in Europe, such as the United Kingdom, France, Italy, and Germany.
The clear message coming from this report is that the manufacturers view technology as an advantage for improving quality, agility, and innovation and attracting the next generation of talent.
"Manufacturers expect to mitigate risk through interoperable technology, tighter processes, and connected people to build resiliency and drive future successes," according to Sachin Mathur, director of software and control, EMEA, Rockwell Automation. "We hope industry finds the report useful in benchmarking their organizations and as a catalyst for taking action to drive transformation that will deliver differentiated business outcomes in your industry."
Additional key global findings include:
Globally, twice as many respondents say they lack the technology to outpace the competition compared with last year's surveying.
Sustainability and ESG are integral to manufacturing. More than 95% of global respondents noted some level of sustainability and or ESG policy over the past two years, whether formal or informal.
50% more global manufacturers are using machine learning and artificial intelligence compared with last year.
Overall, a third of global manufacturers are challenged by technology paralysis and the inability to decide between solutions.
97% of global participants reported plans to use smart manufacturing technology to enable and optimize more agile resilient production processes, empowering the workforce to manage risk, drive sustainability, and accelerate transformation.
When it comes to considering how helpful technology can be in addressing workforce challenges, 65% of European organizations consider it at least very helpful.
Of those who have already adopted smart manufacturing initiatives, 39% of European companies say that the main barrier to adopting smart manufacturing is the cost of smart manufacturing initiatives.
When it comes to the percentage of operating budget invested in technology, India leads the way at 34.71%, followed by the U.S. at 26.96%, and Japan at 24.23%. Europe was well below the global average, investing only 21.6% of operation budgets towards technology.
"While the landscape is not predictable, history clearly shows that adversity accelerates innovation and creates opportunity. Manufacturers have always led industrial transformation, and with the right vision and strategy, the time is now to seize this moment to outpace competitors and forge a bright future," Mathur concluded.
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