Report: Digitization Delivers for Manufacturers
Learn about the impact of Industry 4.0 on Productivity and Profitability
HOW CRITICAL IS INDUSTRY 4.0 TRANSFORMATION TO MANUFACTURING
Companies need actionable, real-time, and relevant data to make crucial decisions affecting their businesses success. This is where Industry 4.0 comes in. It improves quality, reduces costs, increases production capacity and enhances profitability. Within the research in 2021, The MPI Group gathered views from almost 500 manufacturing executives from around the world who had implemented Industry 4.0 in their organizations:
- 92% of executives report that Industry 4.0 was either "extremely important" or "very important" for their businesses.
- 98% believe it is or will become important to gain a competitive advantage over other companies in the industry.
- More than 2/3rd of manufacturing executives believe that Industry 4.0 will have a major impact on their businesses and industries in the next 5 years.
- More than half of manufacturers invested as much as 5% of their sales in Industry 4.0 in 2021.