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COLCHESTER TRIUMPH 2000 15` x 50` GAP BED CENTRE LATHE 2` Spindle Bore : 16 Speeds 25 - 2000 rpm : Q
COLCHESTER TRIUMPH 2000 15` x 50` GAP BED CENTRE LATHE 2` Spindle Bore : 16 Speeds 25 - 2000 rpm : Q...
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Digital adoption gathers pace in Europe and North America

Posted on 12 Feb 2024 and read 1550 times
Digital adoption gathers pace in Europe and North AmericaNew research from analysts ThoughtSpark has revealed that between 25% and 30% of European and North American manufacturers have now reached ‘significant’ adoption levels of digitalised technologies. The report provides a realistic benchmark of digital adoption across all sizes of manufacturer, in contrast with other studies that focus on adoption rates in larger, pioneering manufacturing companies.

Research conducted among over 1,200 manufacturing companies tracked their views on ‘significant’ adoption of digital technologies — defined as implementing digital capabilities in at least half of a manufacturer’s production environment. Moderately good levels of return on investment are being experienced from digital investments, according to the research — in terms of performance, value, savings and sustainability gains. Nevertheless, ThoughtSpark says there remains significant headroom for these to be improved further.

Many studies of digitalisation in manufacturing to date have focused on large pioneer corporations, sometimes giving the misleading impression that adoption rates are higher than is truly the case. However, the findings of this ThoughtSpark study should give encouragement to SME manufacturers as it shows that they still have time to invest in digital and gain concomitant commercial and competitive benefits — although the clock is ticking.

Similarly for digital solutions providers, there remains much headroom for sales growth across the rest of the decade. To accelerate adoption — particularly among SME manufacturers — the authors of this paper suggest that the good foundations already laid down by the Government and trade associations be amplified and extended. In particular it recommends enhanced Government policy incentives, closer alignment between digitalisation and sustainability goals, greater (anonymised) experience sharing — probably facilitated by trade bodies, and more access to flexible financing solutions to encourage investment.

For more information the full report can be obtained here.