The automotive sector is the biggest spender on digital transformation. In its latest whitepaper, 4 Key Industries Embracing Industry 4.0, global technology intelligence firm ABI Research forecasts that this sector’s spend on Industry 4.0 technologies will approach US$100 billion in 2022 and grow to over US$238 billion in 2030. The main reason for this is that OEMs and their suppliers need to adjust for the move away from the internal combustion engine to electric powertrains.
“The automotive industry is not alone in its digital transformation acceleration,” says Ryan Martin, Industrial and Manufacturing Markets Research Director at ABI Research. “Industry 4.0 – also known as smart manufacturing, connected manufacturing, the Industrial Internet of Things, and other monikers – has revolutionized the way companies manufacture, enhance, and distribute products using new technologies.”
Michael Larner, Industrial and Manufacturing Markets Research Director at ABI Research, adds, “This transformation is not just limited to the manufacturing sector, it has begun shaping other industries and markets throughout the globe.”
4 Key Industries Embracing Industry 4.0 whitepaper explores the state of Industry 4.0 in four key markets:
- Electronics & High Technology
- Oil & Gas
- Fast-Moving Consumer Goods
To discover the drivers and inhibitors that are shaping the adoption of digital technologies across market maturity, practitioners’ investment priorities, and best practices for deploying the technologies, download the whitepaper, 4 Key Industries Embracing Industry 4.0.