About The Authors

May 2023 - Industrial

Seven in 10 manufacturers said they are achieving anticipated results from smart manufacturing initiatives: A survey of senior decision-makers involved in smart manufacturing programs at multinational enterprises has revealed that 71% are achieving anticipated results from smart manufacturing initiatives, up from 37% in last year's survey, Uncertainty over whether success had been achieved had fallen, from 53% in 2022 to just 11% in the latest survey.

The 2023 ISG Smart Manufacturing Survey polled 124 leaders around the world, also finding that the number of smart manufacturing initiatives are growing, with three-quarters of programs employing at least 100 professionals in 2023, up from 40% in 2022. It also found that the number of programs with 2,500 or more employees has doubled in the last year.

The survey found that productivity improvements, cost savings and supply chain resilience are top motivators for smart manufacturing. It also found that the biggest challenge facing businesses adopting smart manufacturing over the last two years has been 'change management', with almost six in 10 businesses (58%) citing it as one of their top three challenges. Just over a fifth of respondents said that it is their single most important issue (22%). When asked for their reasons why change management has been such an challenge, participants pointed to a lack of change management strategy and change management programs with conflicting priorities.

Gaurav Gupta, partner and global head of ISG Digital Engineering said: “More than 60 percent of respondents to our study started a smart manufacturing initiative within the past four years, and those investments appear to be paying off, with more than 70 percent reporting success as measured by cost savings and the quality of manufacturing.”

Other Industrial Research Findings

Other Latest Market Research Insights