Smart Machines & Factories
Survey: investment in digital transformation set to increase
Published:  28 September, 2021
85% of Industrial Businesses to Increase Investment in Digital Transformation and Sustainability, AVEVA Survey Finds

A survey from AVEVA has revealed that 85% of businesses plan to increase their investment in digital transformation over the next three years in order to tackle climate change, embrace automation and unlock the performance benefits of advanced technologies.

Nine out of 10 industrial companies see combining advanced technologies such as the industrial internet of things (IIoT), AI and cloud with their teams’ insights, as key to driving better performance in a post-pandemic world.

Furthermore, the pandemic has increased focus on the need for urgent climate action and the majority of industrial enterprises (90%) cite this as a core action area and are committed to achieving net-zero carbon emissions across their businesses and to tackling climate change within a five-year time horizon.

Sustainability-led demands will consequently drive innovation across the value chain, 85% of companies say. These companies are planning to increase visibility and performance assurance to sustainability related metrics as a result.

About 80% of industrial companies are focused on meeting or exceeding environmental regulations, while 83% say they will prioritize the transition to renewable energy sources. Supporting circularity and recycling within the value chain is important for 83% of customers.

AVEVA surveyed over 850 digital transformation experts across industries such as manufacturing including large-scale agribusiness and food and beverage, infrastructure, energy, power and chemical processing. The objective was to understand the different market opportunities, pressures and innovations driving industries to embrace digital operations, using a combination of AI, industrial software and human insight to deliver unprecedented performance.

Ravi Gopinath, chief strategy officer and chief cloud officer, AVEVA commented: “Industrial leaders are utilising advanced analytics and digital innovation to rethink how they design, engineer and operate. Bringing together rich, timely and accurate industrial data with the scope and scale of the cloud, smart analytics and artificial intelligence (AI) are empowering industrial teams to collaborate better. Our study shows that Performance Intelligence is accelerating sustainability for many businesses."

* A total of 850 C-suite leaders, business unit heads, executives and senior managers worldwide were interviewed in June 2021 by research house Savanta for the AVEVA survey, titled Approaching The Age of Performance. Respondents were based in Germany, the USA, Canada, the UK, Mexico, Brazil and China.