The automotive sector is the biggest spender on digital transformation of its products and production, says the latest whitepaper, 4 Key Industries Embracing Industry 4.0, produced by global technology intelligence firm ABI Research. The paper forecasts that “this sector’s spend on Industry 4.0 technologies will approach US$100 billion in 2022 and grow to over US$238 billion in 2030.” The study posits that the main reason for this is that OEMs and their suppliers need to adjust for the move away from the internal combustion engine to electric powertrains.
“The automotive industry is not alone in its digital transformation acceleration,” said Ryan Martin, Industrial and Manufacturing Markets Research Director at ABI Research. “Industry 4.0—also known as smart manufacturing, connected manufacturing, the Industrial Internet of Things, and other monikers—has revolutionized the way companies manufacture, enhance, and distribute products using new technologies.”
Industrial and Manufacturing Markets Research Director at ABI Research, Michael Larner said, “This transformation is not just limited to the manufacturing sector, it has begun shaping other industries and markets throughout the globe.”
4 Key Industries Embracing Industry 4.0 whitepaper explores the state of Industry 4.0 in four key markets: Automotive, Electronics & High Technology, Oil & Gas, and Fast-Moving Consumer Goods.