Global survey reveals shifting priorities,
increased technology investments, and workforce engagement
challenges in the automotive industry
BRUSSELS, June 18, 2024 /PRNewswire/ -- Rockwell
Automation, Inc. (NYSE: ROK), the world's largest company dedicated
to industrial automation and digital transformation, today
announced the results of the 9th annual "State of Smart
Manufacturing Report: Automotive Edition." The global study
encompasses the responses of 182 leaders from automotive
manufacturers, automotive supply manufacturers, and electric
vehicle manufacturers across 15 of the leading manufacturing
countries.
This year's report emphasizes the evolution of the automotive
industry, revealing a focus on harnessing emergent technology to
reduce risk, generate growth, and maximize workforce potential.
Automotive manufacturers are acutely aware of the industry's
evolution in the era of Industry 4.0, particularly as cyberattacks
resulted in $1.99 billion in system
downtime costs in the first half of 2023 alone.
Key global findings include:
- Cybersecurity risk is listed as the top external obstacle for
automotive manufacturers in 2024 – up from 9th position
in 2023.
- 97% of automotive manufacturers are using or evaluating smart
manufacturing technology – up from 85% in 2023.
- Technology investments increased 35% year-over-year, from 23%
to 31% of the operating budget.
- Wearable technology is listed as one of the top 10 investment
areas for automotive manufacturers in 2024, ranking third
overall.
- Employee engagement is the top workforce-related obstacle for
automotive manufacturers in 2024.
- Reducing manufacturing waste is the factor that matters most to
automotive manufacturers' ESG programs.
"As the automotive industry is navigating an era of rapid
transformation, setting clear goals and fostering
cross-departmental collaboration have emerged as critical
factors—and obstacles—for success," said James Glasson, vice president, global industry –
auto, tire & advanced mobility at Rockwell Automation. "This
year's report highlights the pressing need for automotive
manufacturers to prioritize organizational change management and
adopt technologies that enhance the capabilities of their
workforce."
Automotive manufacturers are focusing on strategies that
prioritize workforce retention, upskilling, and engagement.
Technologies such as smart manufacturing and automation, which
complement and augment the value brought by their employees, are
key to driving positive business outcomes.
"At Rockwell, our deep industry expertise and comprehensive
portfolio of industry solutions, combined with our extensive
PartnerNetwork™, puts us in a unique position to serve as a trusted
advisor to automotive companies worldwide," said Glasson.
"Regardless of where companies are in their digital transformation
and smart manufacturing journeys, we meet them where they are and
help them achieve sustainable growth."
The full findings of the report can be found here.
Methodology
This report is based on the responses of 182 managers and
executives from automotive manufacturers, automotive supply
manufacturers, and electric vehicle manufacturers in 15 countries.
It's part of the 9th annual State of Smart Manufacturing report,
which surveyed 1,567 manufacturing leaders across multiple
industries and was conducted in association with Sapio Research and
Rockwell Automation.
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader
in industrial automation and digital transformation. We connect the
imaginations of people with the potential of technology to expand
what is humanly possible, making the world more productive and more
sustainable. Headquartered in Milwaukee,
Wisconsin, Rockwell Automation employs approximately 29,000
problem solvers dedicated to our customers in more than 100
countries. To learn more about how we are bringing the Connected
Enterprise to life across industrial enterprises,
visit www.rockwellautomation.com.
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