target audience: TECH SUPPLIER Publication date: Feb 2024 - Document type: Market Presentation - Doc Document number: # US49877723
Industry Market Forecast: Worldwide Manufacturing, 2023
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Abstract
This IDC Market Presentation is designed to provide technology vendors and market intelligence professionals with a comprehensive overview of the IT spending forecast for 2023 and beyond in the global manufacturing sector. It aims to offer insights into the market dynamics influencing spending, encapsulating the drivers, inhibitors, and market conditions shaping the landscape. The presentation covers various topics, such as the adoption of smart manufacturing, government-led industrial policies, and the evolving focus on sustainability and digital transformation (DX). It also highlights the critical role of emerging technologies, such as generative AI (GenAI), Internet of Things (IoT), and automation in manufacturing, reflecting on the challenges of supply chain disruptions, geopolitical instability, and shifting consumer demands. Additionally, the presentation offers strategic advice for technology suppliers to align their offerings with the needs of a rapidly transforming global manufacturing landscape. It emphasizes the necessity for regulatory agility, cybersecurity, sustainability, and digital supply chain integration.
“Manufacturers are using their IT investments to create stronger supply chains and minimize risks in the face of economic challenges. Real-time data and predictive analytics are now essential tools for manufacturing in this new era,“ says Stephanie Krishnan, associate VP, IDC Manufacturing Insights. “However, it is also important for manufacturers interested in using analytics and data to improve their supply chain agility to consider the environmental impact of their operations. Sustainability has become a critical factor that must be considered when making IT investment decisions,“ she adds.