Recently, Rockwell Automation, one of the world’s leading companies in industrial automation, information technology and digital transformation, released the ninth edition of its annual “Smart Manufacturing Status Report: Automotive Edition”. This global survey received responses from 182 responsible persons, covering automakers and automotive suppliers from 15 major manufacturing countries and regions.
The annual report details the evolution of the automotive industry, focusing on how emerging technologies can be used to mitigate risk, promote growth, and maximize the potential of employees. Automakers are acutely aware of the industry changes in the era of Industry 4.0, especially as system downtime costs due to cyberattacks reached $1.99 billion in the first half of 2023 alone.
Key findings from the global survey include:
Cybersecurity risk is ranked as the top external challenge facing automakers in 2024, compared to the ninth risk in 2023.
97% of automakers are using or evaluating smart manufacturing technologies, up from 85% in 2023.
Technology investment increased 35% year-over-year, from 23% to 31% of operating budgets.
Wearable technology is ranked as one of the top ten investment areas for automakers in 2024, ranking third overall.
Employee engagement is the biggest workforce-related challenge facing automakers in 2024.
Reducing production waste is the most important factor in automakers’ ESG (environmental, social and governance) plans.
”The automotive industry is in a period of rapid transformation, and setting clear goals and promoting cross-functional collaboration are both critical factors for success and challenges. This year’s report highlights the urgent need for automakers to prioritize organizational change management and adopt technologies that can improve workforce performance,” said James Glasson, vice president of Global Industries – Automotive, Tire and Advanced Mobility at Rockwell Automation.
To this end, automakers are focusing their strategies around workforce stability, workforce performance and employee engagement, and technologies such as smart manufacturing and automation help complement and enhance the value brought by employees, thus becoming key factors in driving positive business outcomes.
”Rockwell Automation is positioned to be a trusted advisor to the global automotive industry. Supporting this unique position is our deep industry expertise, comprehensive industry solution portfolio, and large PartnerNetwork™ partner ecosystem. No matter where companies are in the digital transformation and smart manufacturing journey, we can meet their needs and help them achieve sustainable development,” said Glasson.
Methodology
This report (Automotive Edition) received responses from 182 managers and executives, covering automakers (including electric vehicle manufacturers) and automotive suppliers from 15 countries and regions. The automotive edition is part of the ninth edition of the State of Smart Manufacturing report, jointly completed by Sapio Research and Rockwell Automation, which surveyed 1,567 manufacturing leaders from a variety of industries.
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