Capgemini: Smart factories to grow the automotive industry by $160bn
A new report from Capgemini’s Digital Transformation Institute has revealed that the automotive industry could grow by as much as $160bn over the course of the next five years as a result of smart factory adoption.
The report, Automotive smart factories: How auto manufacturers can benefit from digital transformation, reveals that 46% of all automotive companies are already pursuing a smart factory initiative, with nearly half (49%) of those surveyed having invested more than $250mn in smart factories.
“By using smart factory technology in our business, we have seen great benefits with regard to our employees’ productivity,” said Grégoire Ferré, Chief Digital Officer at Faurecia, the world’s sixth largest international parts manufacturer. “They use sophisticated tools such as smart robots to create a safer environment, which in turn provide them with more time to focus on other important tasks.”
Further, Capgemini states that a top 10 global automotive manufacturer can expect to see a 50% growth in operational profits within five years of successfully implementing smart factories, financially breaking even within a year of exercising the full potential of smart manufacturing plants.
OEMs in particular are set to lead the way, with 46% having been successful in their smart factory initiatives, compared to just 32% of automotive suppliers.
“This study clearly demonstrates the enthusiasm among automotive organizations to invest in smart factories and the awareness of the long-term benefits” said Nick Gill, Chair of Automotive Council at Capgemini. “The next few years will be critical as OEMs step up their digital maturity, accelerating outcomes to maximize business benefits.”
Manufacturers themselves expect 24% of factories to be smart factories by 2023.
Searching for the Top 100 Leaders in Technology
The search is on for the Top 100 Leaders in Technology 2021 – nominated by readers of Technology magazine and open to all.
The initiative has been launched and nominations are now open, with the final, prestigious Top 100 due to be announced during Technology and AI LIVE running 14-16 September, beamed from London to the world.
This latest, definitive list of the leading executives and influencers in the industry will be announced at the event and shared across social media channels, this website, and presented in a special supplement that honours all of those named in our annual list.
The Top 100 Leaders follows on from the well-received Top 100 Women in Technology that BizClik Media Group (BMG) – publishers of Technology magazine, AI magazine and a growing portfolio of industry-leading titles – produced in March this year to coincide with International Women’s Day.
“The Top 100 Women recognised the incredible and influential women driving our industry,” says Scott Birch, editorial director, BMG. “The success of that initiative encouraged us to recognise the Top 100 Leaders – individuals championing everything that we love about technology and embracing best practice that’s good for business.”
Nominations are already coming in, with some notable highlights including:
Rhonda Vetere - Herbalife
Bryan Smith - Expedient
Nominate your Top 100 Leader HERE
The deadline for nominations closes on Sunday 1 August 2021, and it is free to nominate. The Top 100 Leaders will be announced across our platforms and at the LIVE event.