New State of Smart Manufacturing Study Finds Over 40% of Manufacturers Struggle to Outpace Competitors Due to Lack of Technology and Skilled Workforce

Rhea-AI Summary

Rockwell Automation (NYSE: ROK) announced the findings of its 8th annual "State of Smart Manufacturing Report," surveying over 1,350 manufacturers across 13 countries. Key results revealed that manufacturers are focusing on profitable growth while addressing quality, data potential, and workforce challenges. Notably, 80% still lack end-to-end supply chain planning, and cybersecurity risks are a primary concern. 45% aim to improve quality through smart manufacturing, while 89% plan to maintain or grow their workforce due to technology adoption. Additionally, 42% of manufacturers with ESG policies pursue efficiencies as a driving factor.

Positive

• 89% of manufacturers anticipate maintaining or growing employment due to technology adoption.
• 45% of manufacturers aim to enhance quality through smart manufacturing initiatives.
• 42% of manufacturers with ESG policies cite improving efficiencies as a key motivator.

Negative

• Twice as many manufacturers believe they lack the technology to compete effectively compared to 2022.
• 4 out of 5 manufacturers still do not have an end-to-end supply chain planning solution.
• A third of manufacturers experience 'technology paralysis' in deciding on solutions.

Global survey reveals impact of smart manufacturing technology on maximizing data insights, attracting talent, and minimizing risks to supply chain, quality, and cybersecurity

MILWAUKEE--(BUSINESS WIRE)-- Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced the results of the 8^th annual “State of Smart Manufacturing Report.” The global study surveyed more than 1,350 manufacturers across 13 of the leading manufacturing countries.

Rockwell Automation announced the results of the 8th annual “State of Smart Manufacturing Report” (Photo: Business Wire)

This year’s report reveals a focus on delivering profitable growth without sacrificing quality, an emphasis on accessing data’s true potential, and increasing adoption of technology to build resilience, enable agility, increase sustainability, and address workforce challenges.

Key global findings include:

• Twice as many manufacturers believe their organization lacks the technology needed to outpace the competition, as compared to 2022.
• 4 out of 5 manufacturers still lack an end-to-end supply chain planning solution.
• Cybersecurity risks rank highest as the obstacle respondents are looking to mitigate with smart manufacturing initiatives.
• 45% of manufacturers cite “improving quality” as the main positive outcome they want to achieve with smart manufacturing initiatives.
• 89% of manufacturers plan to maintain or grow employment due to technology adoption. Additionally, 36% of respondents believe they will be able to repurpose existing workers due to their increasing use of technology.
• Of the 95% of manufacturers who have formal or informal ESG policies in place, 42% cite “improving efficiencies” as the top driving factor for pursuing ESG initiatives.

“Manufacturers are continuing to seek opportunities for profitable growth but are realizing that uncertainty in workforce availability is impacting quality, along with their ability to meet evolving customer needs,” said Veena Lakkundi, senior vice president, Corporate Strategy and Development, Rockwell Automation. “The survey found that smart manufacturing technology is enabling manufacturers of all sizes to optimize more resilient, agile, and sustainable solutions that accelerate transformation. If we’ve learned anything from history, it’s that organizations that invest in innovation, with a bias for action, during times of uncertainty can outpace competitors.”

Based on the survey findings, technology is crucial to mitigating risk and delivering growth. However, for one-third of manufacturers, the range of available systems and platforms is leading to “technology paralysis” – an inability to decide between solutions. Manufacturers can overcome this indecision by choosing a partner with relevant industry expertise and experience who can advise and guide them in implementing a fit-for-purpose solution to achieve desired outcomes.

“At Rockwell, we combine the power of our portfolio of industry solutions with our second-to-none partner ecosystem to serve as a trusted advisor to leading companies around the world,” said Lakkundi. “As the biggest company focused solely on industrial automation and digital transformation, we work to make the complex simple and meet companies where they are in their journeys.”

The full findings of the report can be found here.

Methodology

This report analyzed feedback from 1,353 respondents from 13 of the top manufacturing countries with roles from management up to the C-suite and was conducted in association with Sapio Research and Plex Systems. The survey covered discrete, process, and hybrid industries across a balanced distribution of company sizes with revenues spanning $10 million to over $10 billion, providing a wide breadth of manufacturing business perspectives.

About Rockwell Automation

Rockwell Automation, Inc. (NYSE: ROK) is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing the Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005374/en/

Michelle Anderson

Public Relations Lead

+1 414-218-8008

Michelle.Anderson@rockwellautomation.com

Source: Rockwell Automation, Inc.

FAQ

What are the key findings of the State of Smart Manufacturing Report by Rockwell Automation?

The report highlights manufacturers' focus on profitable growth, addressing quality and cybersecurity risks, with 80% lacking end-to-end supply chain solutions.

How many manufacturers participated in the Rockwell Automation survey?

The survey included over 1,350 manufacturers across 13 leading manufacturing countries.

What percentage of manufacturers plan to grow employment due to technology adoption?

89% of manufacturers plan to maintain or grow employment as a result of technology integration.

What obstacles are manufacturers looking to mitigate with smart manufacturing?

Cybersecurity risks are cited as the top obstacle manufacturers aim to address through smart manufacturing initiatives.

What does Rockwell Automation emphasize in its 2023 State of Smart Manufacturing Report?

Rockwell Automation emphasizes the importance of technology for growth and resilience in the face of workforce challenges and competitive pressures.