target audience: TECH SUPPLIER Publication date: Nov 2024 - Document type: IDC Survey - Doc Document number: # US52696624
Future of Industry Ecosystems 2024 Global Survey Results — Manufacturing Value Chains
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Abstract
This IDC Survey highlights the future of industry ecosystems 2024 global survey results for manufacturing value chains. In August and September 2024, we fielded our third annual global survey to 1,264 executives across 5 regions and 11 countries. The goal was to determine executive, business, and IT leader sentiment on industry ecosystems, maturity of current approach, and future plans for IT and use case investment. Respondents spanned multiple domains including CXO, business line leadership, and IT management. Industry coverage is across 10 industries: construction, energy, discrete and process manufacturing (and subindustries), healthcare, life sciences, financial services, media and entertainment, retail, and government. This survey document focuses on the four manufacturing value chains: AOVC (asset-oriented value chains), BOVC (brand oriented), EOVC (engineering oriented), and TOVC (technology oriented). Key findings from the survey include:
- IT investment in support of ecosystems continues to grow, continuing a trend we have seen for the past two years.
- AI, ML, and GenAI are all focus investments now for ecosystems — still primarily experimentation on the GenAI front, but this is evolving quickly.
- Virtual environments and technologies/technology approaches such as digital twins are maturing in manufacturing as critical tools enabling ecosystem collaboration, innovation, and operation.
- An important driver for ecosystem expansion and close work with partners continues to be environmental sustainability, and the need to track supply chain and network impact.
What is clear is that organizations in every industry are looking to open and expand their industry ecosystem as part of becoming a digital-first business. Shared data and insights, shared applications, shared operations and expertise continue to be enhanced with this approach — becoming not only a way to ensure flexibility and resiliency but also a way to expand innovation, as well as grow revenue and profitability.