Gap with Americas, Europe, M. East and Africa set to widen
PwC’s Strategy& surveyed 1,155 executives at global manufacturing companies in 26 countries and asked them about their views on Industry 4.0. and digital operations for the purpose of its report, Digital Champions: How industry leaders build integrated operations ecosystems to deliver end-to-end customer solutions.
Based on the outcomes, PwC developed a digital maturity index to explore the role of frontrunners – the so-called ‘Digital Champions’ – and what distinguishes them to outpace their competitors.
According to the results, Asia Pacific manufacturing companies are championing the digitization and end-to-end integration of their operations, introducing digital products and services and connecting new technologies across their organizations at a much faster rate than their peers in the Americas and EMEA. This gap will continue to widen, as 32% of Asian companies plan to have established mature digital ecosystems in the next five years, compared to 24% in the Americas and 15% in EMEA.
· 10% of global manufacturing companies are Digital Champions, while almost two-thirds have barely or not yet begun on the digital journey
· Asia / Pacific is leading the way to digitization, where 19% of manufacturers have achieved Digital Champion status, compared to 11% in the Americas and 5% of companies in EMEA
· Automotive (20%) and Electronics (14%) have the largest share of Digital Champions. Consumer goods (6%), Industrial manufacturing (6%) and Process industries (6%) are lagging significantly behind
· Global manufacturing companies are applying new technologies to their operations at a large scale, but artificial intelligence is just kicking off
· Two-thirds of all companies don’t have a clear digital vision and strategy to support digital transformation and culture
Director - Marketing & Communications, PwC Cyprus