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The automotive industry has its sights firmly set on the promise of smart factories, which could be worth up to $167 billion by 2023 and many want a piece of the action, pouring multi-million dollar investments into smart facilities. Our research has shown that firms can realize annual productivity gains of 2.8%–4.4% by 2023 from smart factory initiatives. But despite this potential, only a handful of OEMs and suppliers are set to achieve the necessary scale. We wanted to understand why and to explore how the automotive industry can turn this appetite for smart factories into reality.
For the latest report from the Capgemini Research Institute – How automotive organizations can maximize the smart factory potential – we surveyed a hundred auto firms, 98 of which have existing smart factory initiatives underway. We also spoke to executives overseeing smart factory initiatives across the world. We found that:
To take advantage of the benefits of smart factories, OEMs and suppliers alike have to address a number of priorities, from a comprehensive strategy to integrated solutions, IT–OT convergence to talent. Only then will they be able to take advantage of the full potential of smart factories which are a critical part of Intelligent Industry.
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