Which global industries have the highest investment in digital tools and how much are of their budget are they investing on these new business enablers?
Business is changing and with it, so are the places that investment gets funnelled. Digital tools are now something that firms in every industry can benefit from to help optimise their daily operations.
Business growth can come via a wide variety of digital tools, including: e-commerce, social media, advanced analytics, mobility, customer relationship management (CRM), business intelligence (BI), enterprise resource planning (ERP), field service management (FSM), analytics, to name but a handful.
The question is, which industries are spending the most? According to data from Siemens, ‘software & internet’ -unsurprisingly – is the industry that spends the most on digital R&D.
What’s more interesting is the amount of manufacturing sectors vying for space in the top 10. Aerospace & defence, industrial goods, and automotive have an average spend on digital tools of 8.5%.
For an industry that pioneered the use of automation and connected factories, automotive’s spending on R&D around digital tools is fairly low. Especially when you consider the possible benefits of using advance analytics in consumer vehicles in order to servitize business models.
The amount spent by the industrial goods industry goes to show that their business is changing. It is not enough to be supplier any more and digital tools allow industrial goods producers to improve their products with a greater understanding of customer end-use.
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Nov 15-16, 2107 – Exhibition Centre Liverpool
The UK’s biggest showcase for the Fourth Industrial Revolution (4IR) – a revolution in manufacturing agility, innovation and thinking.
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