Rockwell Automation, the world’s largest company dedicated to industrial automation and digital transformation, announced the results of the 9th annual “State of Smart Manufacturing Report: Automotive Edition.” The study encompasses the responses of 182 leaders from automotive manufacturers, automotive supply manufacturers, and electric vehicle manufacturers across 15 of the leading manufacturing countries, including India.
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 ninth 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 ten 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.
Dilip Sawhney, Managing Director, Rockwell Automation India, said, ” In the age of Industry 4.0, cybersecurity is emerging as the major concern for automotive manufacturers, which underscores industry’s heightened recognition of digital threats and the urgent need for robust cybersecurity measures.”
“As the Indian automotive sector shifts towards electric vehicles, manufacturers need to adopt smart technologies to improve resilience, reduce waste, optimize production, and drive growth, in a sustainable way. At Rockwell Automation, we are committed to assisting the Indian automotive sector in overcoming these challenges by offering innovative solutions that enhance security, drive growth, and foster sustainability,” added Dilip.
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.
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.
