New Research Study Highlights Progress of Digitalization of U.S. Manufacturers
- U.S. manufactures are facing significant data gap
- Companies need to develop and articulate a top-down digitalization strategy
- Lack of industry-wide standards for key technologies hinders digital progress
- Real-time study allows users to compare their digitalization path against others
A recent research study of more than 200 manufacturing executives conducted by London-based Longitude Research, on behalf of
Siemens, has been released, revealing two distinct categories for U.S. manufacturers along the path to adopting digitalization –
“the efficiency experts” and the “revenue re-inventors.” As part of the study, manufacturers are able compare their own
digitalization status amongst their industry peers through a benchmark online survey.
The study evaluates manufacturers’ digital capabilities across core dimensions using their relative progress to provide an
overall score. Capabilities measured included data intensity, connectivity, adaptability, integration, security and people. As part
of the project, a comprehensive set of soon-to-be-released mini-reports were developed based upon several key sectors, including
aerospace, automotive, chemicals, food and beverage and energy.
According to the report, rather than one single technology, though, digital is diffuse – spanning data and analytics, cloud
computing, the Internet of Things and more.
“Efficiency experts” are noted as pushing hard and fast on digital technologies such as connected sensors, virtual training and
artificial intelligence, with the motivation of embracing this approach being to increase uptime and efficiency and to keep their
employees safe – in essence, to do what they do, but faster and cheaper. By contrast, “revenue re-inventors” identify themselves as
both financially and digitally ahead of their peers, and find motivation for digitalization in opening up new markets and
reinventing themselves and what they sell.
“It’s probably not surprising to see mid-sized companies delay in embracing new technologies, but even Fortune 500 companies
sometimes hesitate based on various barriers,” as quoted by Raj Batra, President, Siemens Digital Factory Division, U.S. in the
report. “Companies are aware that digitalization is driving industry forward and that it is essential in long-term strategy and
planning to remain competitive in a global economy. Innovation and technology is available today that will enable a digital path to
success,” he added.
Some key highlights:
- The top five digital technologies implemented by manufacturers include cloud computing at 85%,
connected sensors in plants at 65%, connected sensors in products at 59%, 3D printing at 39% and advanced data analytics tools at
34%.
- 76% of efficiency experts and 98% of revenue re-inventors stated that they use predictive analytics
to forecast performance of production equipment or processes in most or all parts of their organization.
- Only one-fifth of the respondents stated that they analyze more than 60% of the production data they
collect, meaning a significant amount of data goes unanalyzed.
- 38% admit that the analysis gap of production data is three days or greater.
For a full copy of the report or to compare your digital path to the benchmark, visit http://sie.ag/2qoJVVF
Follow us on Twitter at www.twitter.com/SiemensII or www.twitter.com/siemens_press
About Siemens USA
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation
and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading
supplier of systems for power generation and transmission as well as medical diagnosis. With approximately 348,000 employees in
more than 190 countries, Siemens reported worldwide revenue of $86.2 billion in fiscal 2015. Siemens in the USA reported
revenue of $22.4 billion, including $5.5 billion in exports, and employs approximately 50,000 people throughout all 50 states and
Puerto Rico.
Siemens
Robert Bartels, 678-662-4783
Robert.bartels@siemens.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170605005029/en/