In the rapidly evolving landscape of industrial manufacturing, organisations are increasingly recognising the imperative of digital transformation to enhance operational efficiency, quality control, and sustainability.
The KPMG global tech report highlights that industrial manufacturing firms are at the forefront of this transformation, showcasing the highest levels of digital maturity across various technology categories compared to other sectors.
The industrial manufacturing perspective of the KPMG global tech report 2024 draws on the views of 368 industrial manufacturing technology leaders. The findings reveal that 76% of industrial manufacturing firms express a strong willingness to embrace cutting- edge technology and the sector excels in AI adoption with 34% of organisations achieving a return on investment (ROI) from multiple AI use cases. However, the report also identifies significant maturity gaps in areas such as supply chain, procurement, and finance functions, which hinder the full realisation of digital potential
Survey participants
Key findings for industrial manufacturing leaders
Digital maturity
Manufacturing’s proactive and progressive spirit is propelling its digital maturity.
Out of the eight sectors polled, manufacturing organisations are most likely to be in the highest stage of strategic maturity in the majority of the nine tech categories measured. And 76% of industrial manufacturing firms say their workforce has an appetite to embrace cutting-edge technology – the highest proportion of all sectors surveyed.
AI return on investment (ROI)
The sector excels at achieving AI ROI, but disconnects prevent further progress.
Manufacturing is one of the three sectors where organisations are most likely to be at the most mature phase of AI adoption, with 34% already achieving return on investment (ROI) in several AI use cases.
Data maturity
While it has above average data maturity, the sector continues to hold itself to high standards.
Industrial manufacturing performs above the cross-sector average in the number of its organisations that are in our top two levels of data maturity.
About KPMG's global tech report for industrial manufacturing
This report serves as a critical resource for understanding the current state of digital adoption in industrial manufacturing and the strategic steps necessary for continued advancement. Multiple recommendations emerge from the report including enhancing data strategies to help ensure seamless integration and analysis across disparate systems, upskilling the workforce and prioritising the development of robust cybersecurity measures.
To stay ahead, Australian manufacturers should embrace digital transformation by adopting advanced technologies like AI, data analytics, and automation, which can boost efficiency and sustainability. It's also important to focus on upskilling the workforce and strengthening cyber security measures to bridge the skills gap and protect valuable data. Emphasising innovation and agility will enable manufacturers to meet changing customer needs and drive future growth.
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KPMG global tech report 2024: Industrial manufacturing insights
Explore key insights fuelling digital innovation across industrial manufacturing.
