BRUSSELS, 18th June, 2024 (WAM) -- Rockwell Automation, the world's largest company dedicated to industrial automation and digital transformation, today announced the results of the 9th annual "State of Smart Manufacturing Report: Automotive Edition", the Associated Press (AP) reported.
The global study encompasses the responses of 182 leaders from automotive manufacturers, automotive supply manufacturers, and electric vehicle manufacturers across 15 of the leading manufacturing countries.
This year's report emphasised the evolution of the automotive industry, revealing a focus on harnessing emergent technology to reduce risk, generate growth, and maximise 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.
The report showed that cybersecurity risks are the top external obstacle for automotive manufacturers in 2024 – up from 9th position in 2023. Meanwhile, 97 percent of automotive manufacturers are using or evaluating smart manufacturing technology – up from 85 percent in 2023. Technology investments increased 35 percent year-over-year, from 23 to 31 percent of the operating budget. Wearable technology is listed as one of the top 10 investment areas for automotive manufacturers in 2024, ranking third overall.
"As the automotive industry is navigating an era of rapid transformation, setting clear goals and fostering cross-departmental collaboration have emerged as critical factors—and obstacles—for success," said James Glasson, Vice President, Global Industry – Auto, Tire and Advanced Mobility, Rockwell Automation. “This year's report highlights the pressing need for automotive manufacturers to prioritise organisational change management and adopt technologies that enhance the capabilities of their workforce.”