By The Numbers
85% of supply chain leaders have struggled with insufficient digital technologies in the supply chain.
Source: McKinsey surveys of global supply leaders, May 15-22, 2020
Four out of five supply chain leaders expect to or already use AI and machine learning for planning.
Source: McKinsey survey of global supply chain leaders, May 6-June 3, 2021
The global industrial IoT market is expected to grow from $323 billion in 2021 to $1.3 trillion by 2032, at a CAGR of 12.2%.
Source: Future Market Insights’ Industrial IoT Market report
Data Collection and Analysis
A 2022 Automation World survey on big data found that:
71% of responding industrial system integrators report seeing a noticeable increase in client interest around data collection and analysis.
98% plan to gather more data from their production systems in the next two years, but only 30% plan to do so for specific operational improvements.
53% of end users say that less than 50% of their production systems or related devices are connected for data collection purposes.
System integrators note that, among their clients, only 42% collect data from less than 50% of their production systems or devices.
Among end users, the top three reasons cited for data collection and analysis were: improvement of specific line or equipment operations (70%), improving maintenance operations (65%) and as part of an overall Industry 4.0/digital transformation initiative (54%).
Adoption of New Technology
In May 2022, iBASEt surveyed more than 400 manufacturing executives in the U.S and U.K, and found the following:
44% of respondents said recent modernization efforts have provided them with actionable data, but 19% have not harnessed any data insights.
72% invested in new technologies during the pandemic, and 98% saw increased productivity in that timeframe.
95% of total respondents still use paper-based processes, and more than a quarter (27%) use paper for more than half of all activities.
Two-thirds (66%) of respondents believe the accelerated move to the cloud will unlock benefits that help drive operational efficiency. Only 8% have “no plans” to use cloud infrastructure as part of manufacturing operations.
Nearly all survey respondents (98%) indicate that they continue to use manual spreadsheets such as Microsoft Excel, even while taking steps toward digital transformation. In fact, half (50%) of respondents say they use these tools for “the majority” of processes.