The majority of manufacturers are spending more than £100,000 on boosting factory connectivity a year, according to the latest Annual Manufacturing Report.
Respondents reported investing an average of £106,000 on connected factories over the past 12 months, with a small proportion spending significantly more.
What’s more, in the majority of cases, manufacturers anticipated those investments continuing – at least in the short term. A third (33%) expected to be spending more in factory connectivity in the coming 12 months, and a slightly greater proportion (38%) expected to be spending roughly the same.
In fact, just 17% – or one in six manufacturers – anticipated that they might spend less on factory connectivity over the next 12 months, compared to what they had spent in the previous year.
Whhat benefits did manufacturers expect to see from these investments in connected factories? Most (80%) expected that improved factory connectivity would help them to increase output levels.
High numbers of respondents also expected that their investments would improve quality (68%) and deliver improved accuracy (64%). Just under half expected investment in connectivity to increase production flexibility (44%) and reduce the production cycle time (again, 44%).
That said, most manufacturers were taking a pragmatic view of connectivity’s impact on productivity; just under a quarter (24%) expected investments in factory connectivity to deliver reduced staffing costs. They were, however, open to potential for investments in factory connectivity to deliver a better working environment (36%), and improved health and safety (40%).
You can download the full Annual Manufacturing Report 2017 here.
The Manufacturer Smart Factory Expo
Nov 15-16, 2017 – Exhibition Centre Liverpool
The UK’s biggest showcase for the Fourth Industrial Revolution (4IR) – a revolution in manufacturng agility, innovation and thinking.
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