How automotive organizations can maximize the smart factory potential
The automotive industry is motoring ahead of its peers in terms of smart factory adoption and is set to increase investment by over 60% in the next three years, resulting in productivity gains of more than$160bn, according to a new research report from The Capgemini Research Institute. The “How automotive organizations can maximize the smart factory potential ” report tracks deployment of smart factories by automotive Original Equipment Manufacturers (OEMs) and suppliers in 2019, compared to equivalent research from 2017/18. It found that both projected investment levels and productivity gains relating to smart factories are significant, but that only a minority of automotive firms are fully ready to take advantage through deployment at scale. In the next five years, the automotive industry has aggressive plans to convert further 44% of its factories into smart facilities, followed by42% in discrete manufacturing, 41% in process industries,40% in power, energy and utilities, and 37% in consumer products. This aggressive expansion is reflected in a 62% increase in the proportion of overall revenue the industry plans to invest in smart factories.