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Digital reimagination in the manufacturing industry

Manufacturing firms are using digital technologies to reimagine their businesses in entirely new ways. This infographic presents the findings from our survey of automotive and industrial manufacturers across the globe, about their digital strategies, investment, plans, challenges and key success factors

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Digital reimagination in the manufacturing industry

  1. 1. TCS’GlobalTrend Study revealed interesting trends about the digital strategies, investments, and plans of automotive companies and industrial manufacturers. Substantial revenue generation from digital initiatives in 2014 (in USD) % of companies who brought new digital offerings to the market in 2014 Investments on digital initiatives in 2014 (in USD) 285million 230million 87 9564% 56% million THE STUDY REVEALED HOW MANUFACTURERS ARE CONNECTING WITH CUSTOMERS DIGITALLY AUTOMOTIVE COMPANIES: are monitoring social media comments have digital sensors in their products use other digital online connections have wearable technologies 46% 25% 29% 7% 50% 39% have apps for customers’mobile devices have digital products that customers can directly buy online 41% 24% are monitoring social media comments 32%have apps for customers’mobile devices have digital products that customers can directly buy online 18% 12%37% have digital sensors in their products have wearable technologiesuse other digital online connections MANUFACTURERS ARE ADOPTING THE THREE WAVES OF THE DIGITAL REVOLUTION TO TRANSFORM ENTERPRISE PERFORMANCE BY 2020, MANUFACTURERS WILL COLLECT DIGITAL DATA FROM CUSTOMERS THROUGH: Digitization Digital Transformation To streamline existing business processes To revamp business processes and create new customer experiences. They are using: Mobile apps to improve customer engagement Automotive companies are investing in the human-machine interface (HMI) or the digital car dashboard. Industrial manufacturers can offer preventive, repair, and other maintenance services based on data from sensors that indicate how customers use products. Social media for feedback management Sensors to improve the shop floor experience Wearables for real-time information capture Digital Reimagination™ To bring a completely new business model to market BOTH AUTOMOTIVE COMPANIES AND INDUSTRIAL MANUFACTURERS ARE LOOKING AT GROWING THEIR DIGITAL FOOTPRINT BY 2020 Digital Reimagination™ Digital Transformation Digitization In the automotive industry In the industrial manufacturing industry 32 49 31 11 39 64 2020 Predictions (%) Current Projections (%) Social media monitoring Mobile apps Embedded digital devices or sensors Online distribution of digital products Wearable digital devices Social media monitoring Mobile apps Embedded digital devices or sensors Online distribution of digital products Wearable digital devices 2020 Predictions (%) Current Projections (%) DIGITAL INITIATIVES CAN ACCELERATE BUSINESS CAPABILITIES IN THE FOLLOWING WAYS: DO MANUFACTURERS HAVE A STRATEGY FOR DIGITAL? Predicting customer demands companies not having a digital strategy companies having an overarching digital strategy driving all initiatives companies having separate digital strategies for each business function companies not having a digital strategy companies having an overarching digital strategy driving all initiatives companies having separate digital strategies for each business function Increasing information sharing among employees Increasing the speed of improving or inventing products/services 71% 68% 57% 59% 63% 66% Among automotive companies Among industrial manufacturers Industrial manufacturers Automotive companies 39% 50% 11% 48% 42% 10% TO TRANSFORM BUSINESSES THROUGH DIGITAL TECHNOLOGIES, BOTH AUTOMOTIVE COMPANIES AND INDUSTRIAL MANUFACTURERS MUST HAVE: A unified strategy: Reliable digital technologies Automotive companies rated it second in importance Industrial manufacturers rated it as the most important Enhanced digital connections with customers and suppliers Technologies integrated with existing information systems 51% 56% 66% 62% 59% DIGITAL REIMAGINATION™ INTHE MANUFACTURING INDUSTRY INDUSTRIAL MANUFACTURERS: 7 37 44 4 32 50 Automotive companies Industrial manufacturers million AUTOMOTIVE COMPANIES: INDUSTRIAL MANUFACTURERS:

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