Industry 4.0: companies worldwide are investing over $US 900 billion per year until 2020
[Source: SCM Portal]
Global study by PwC: companies expect Industry 4.0 to generate significant benefits in costs, efficiency and profits / more than half estimate ROI within two years / demand for IT specialists and data security are the biggest challenges
Frankfurt am Main, April 13 2016 — Industrial companies from all sectors across the globe are getting down to business with Industry 4.0. The project’s implementation is in full swing all around the world: about one third of companies already rate their level of digitisation as high, and this value is expected to rise on average from 33% to 72% within the next five years. Industrial company’s leaders are digitising essential functions within their internal vertical value chain, as well as with their horizontal partners along the supply chain. In addition, they are enhancing their product portfolio with digital functionalities and introducing innovative, data based services.
Companies worldwide want to invest approximately 5% of their digital revenue annually on digitisation. Based on the industry sectors surveyed, 5% of digital revenue corresponds to a total investment of $US 907 billion. A major focus of these investments will be on digital technologies like sensors or connectivity devices, and on software and applications like manufacturing execution systems. In addition, companies are investing in training employees and driving required organisational change. More than half of these companies (55%) assume they will amortise this expenditure within two years. These are the results of PwC’s global study “Industry 4.0: Building the digital enterprise” which surveyed over 2,000 companies from nine industry sectors in 26 countries.