'Substantial increase' in digital spending accelerates manufacturing innovation

'Substantial increase' in digital spending accelerates manufacturing innovation

Adapting to the digital climate caused by unique global challenges over the past few years is crucial for businesses wanting to maintain a competitive edge and stay relevant in a changing market.

There has been a substantial increase in spending on digital technologies across the globe as well as the development and application of innovative technologies, according to Deloitte’s 2023 Manufacturing Industry Outlook. This doesn’t only apply to plant-level processes; the report also states that companies with greater digital maturity showed better resilience and improved supply-chain visibility owing to greater agility and adaptability. In the report, Deloitte says that 60% of manufacturers plan to invest in data analytics, and 39% are upping their focus on Internet of Things (IoT) technologies.

At the beginning of March Rockwell Automation acquired Knowledge Lens, an Indian services and solutions provider that delivers business insights from enterprise data, combining digital technologies with deep data science, artificial intelligence and engineering expertise, to augment Rockwell’s digital services business, Kalypso, and to accelerate transformational outcomes for its manufacturing customers.

Frank Kulaszewicz, senior vice-president of Rockwell’s lifecycle services segment, said: “Data offers enormous advantages for those manufacturers able to harness its full potential. But for many, only a fraction of the data generated by their plants and in their supply chains is ever used.”


Advanced Manufacturing Week

8-12 July 2024

Additive manufacturing, 5G networks, augmented reality and more – a wide range of novel technologies are finally maturing and finding vital applications in the most cutting-edge and productive factories. As manufacturers navigate challenges including supply chain disruption, sustainability demands and economic uncertainty, engineers need expert knowledge of new approaches to efficiency and innovation.