Manufacturers today are inclined to exercise caution given global economic uncertainties. However, experts advise that despite the risks involved, manufacturing industry players need to embrace the technological revolution that is transforming modern factories. As early adopters, they should seize the opportunity to get head of the curve in terms of productivity and provide a competitive edge to their customers who are also looking to gain from innovation and technological advancements.
In a separate report, PwC states that more than half the manufacturing companies in Asia Pacific are expected to invest up to 6 per cent of their revenue on digital solutions in the next five years. Additionally, according to the IDC Manufacturing Insights Spending Guide, manufacturing spend in the Asia Pacific region, with the exception of Japan, will grow at a CAGR of 4.8 per cent between 2015 and 2019.
This includes an increase in technology spending due to the changing focus on operational efficiency and the need to combat environmental and safety issues in manufacturing.
Digitising Analysis Data
Vertical system integration in Industry 4.0 digitises and integrates processes across the organisation. Data managed and analysed for operational planning, efficiency and quality management can be made available in real-time and optimised in an integrated network.
Data analytics in vertical integration provides valuable insights that facilitates product ivi ty and improves equipment maintenance. It is reported that 82 per cent of companies in Asia Pacific expect data analytics to have a significant influence on their decision-making in five years’ time.
Manufacturers today are inclined to exercise caution given global economic uncertainties. However, experts advise that despite the risks involved, manufacturing industry players need to embrace the technological revolution that is transforming modern factories. As early adopters, they should seize the opportunity to get head of the cur ve in terms of productivity and provide a competitive edge to their customers who are also looking to gain from innovation and technological advancements.
In a separate report, PwC states that more than half the manufacturing companies in Asia Pacific are expected to invest up to 6 per cent of their revenue on digital solutions in the next five years. Additionally, according to the IDC Manufacturing Insights Spending Guide, manufacturing spend in the Asia Pacific region, with the exception of Japan, will grow at a CAGR of 4.8 per cent between 2015 and 2019.
This includes an increase in technology spending due to the changing focus on operational efficiency and the need to combat environmental and safety issues in manufacturing.
Digitalisation Of The Manufacturing Sector (Part I)
APMEN Sept 2016, Features
