IDC FutureScape: Worldwide Manufacturing 2023 Predictions

PUBLISHED: October 27, 2022

PAGES: 21 Pages

DELIVERY TIME: 1-2 business days

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Description

This IDC study provides manufacturers with the top 10 predictions and underlying drivers that we expect to impact manufacturers' IT investments in 2023 and beyond. Technology leaders and their counterparts in the line-of-business (LOB) operations can use this document to guide their IT strategic planning efforts."The manufacturing industry has maintained its rapid pace of change and disruption, making the ability to adapt a premium. Manufacturers have encountered many challenges in their efforts to become more resilient while maintaining efficiency, but one of the most cited issues are outdated/legacy systems. While the predictions highlighted touch upon many areas of the business, the main theme that can be tied back to is having the proper digital infrastructure in place to serve as the foundation for transformation," according to Reid Paquin, research director of IDC Manufacturing Insights' IT Priorities and Strategies program.

Product Code: US48630122

IDC FutureScape Figure

Executive Summary

IDC FutureScape Predictions

Summary of External Drivers
Predictions: Impact on Technology Buyers
- Prediction 1: By 2023, 50% of Supply Chain Organizations Will Have Rebalanced Resiliency Efforts to Reflect the Realities of Inflation and Necessary Efficiency to Recover 2 Percentage Points of Margin
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 2: Due to Rising Customer Expectations, by 2026, 65% of G2000 OEMs Will Mine Service Interactions and Work Order Data in Real Time to Inform Product Development Decisions and Achieve Quality Targets
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 3: By 2024, Digital-First Operations Enabled by 5G Connectivity Will Improve Worker Safety, Resulting in a 20% Reduction in Lost Time Accidents
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 4: By 2027, 50% of Manufacturers Will Increase the Use of IoT and OT Cybersecurity Solutions at the Edge, Cutting OT Cybersecurity Breaches in Half
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 5: By 2024, 50% of Companies Will Have Implemented More Balanced Multishoring Sourcing Strategies to Better Address Risk That Result in a 10 Percentage Point Improvement in Supply Reliability
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 6: By 2024, 50% of Manufacturers Will Prioritize Digital Literacy as a Key Skill Set During the Talent Acquisition/Retention Process to Support Digital Transformation and Enterprisewide Technology Adoption
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 7: By 2025, 40% of Manufacturers Will Have Deployed Enterprisewide AI-Based Tools to Support the Decision-Making Process and Maximize the Value of Data, Resulting in Up to 5% Improvement in Revenue/Profit
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 8: By 2026, Regulations and Sustainability-Linked Lending Will Drive Over 60% of Global Manufacturers to Adopt Product Carbon Footprint as a Key Metric to Operationalize Sustainability Beyond Reporting
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 9: By 2026, 50% of G2000 OEMs Will Take an Ecosystem Approach to Quality Management, Providing Designers with Real-Time Feedback on Quality Issues and Improving Product Success Rates by Up to 3%
  - Associated Drivers
  - IT Impact
  - Guidance
- Prediction 10: By 2025, 20% of G2000 Manufacturers Will Include the Industrial Metaverse in Their Digital Transformation Road Map to Address Advanced Simulation, Cross-Domain Collaboration, and Safety
  - Associated Drivers
  - IT Impact
  - Guidance