A recent industry study has found that whilst 68% of manufacturers surveyed already have smart factory projects underway, just 14% would currently describe them as successful. Many firms are struggling to scale up their smart factory initiatives, with difficulties in managing IT-OT convergence cited as one of their biggest challenges.
The report by leading global consulting firm Capgemini entitled ‘Smart factories @ scale: Seizing the trillion-dollar prize through efficiency by design and closed-loop operations’ also found that China, Germany and Japan were leading the way in terms of smart factory adoption, with South Korea, the United States, and France closely following them.
Despite the implementation challenges, the study found that firms were on average planning to invest more than 3% of annual revenues on smart factories in the next three years – a significant increase in spending over the previous three years, but perhaps unsurprising given the vast potential productivity gains identified in the report.
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