According to AVEVA, a global leader in industrial software that drives digital transformation and sustainability, 85% of businesses plan to increase their digital transformation investment over the next three years to address climate change, embrace automation, and unlock the performance benefits of advanced technologies.
Over 850 digital transformation experts from a variety of industries were polled by AVEVA, including manufacturing, large-scale agribusiness, food and beverage, infrastructure, energy, power, and chemical processing. The goal was to learn about the various market opportunities, pressures, and innovations that are driving industries to embrace digital operations by combining AI, industrial software, and human insight to achieve unprecedented results.
The findings are based on an AVEVA-commissioned survey* of senior industry leaders and managers’ innovation priorities. According to AVEVA, a global leader in industrial software that drives digital transformation and sustainability, 85% of businesses plan to increase their digital transformation investment over the next three years to address climate change, embrace automation, and unlock the performance benefits of advanced technologies. The findings are based on an AVEVA-commissioned survey* of senior industry leaders and managers’ innovation priorities.
The pandemic is driving digital acceleration
“Industrial leaders are rethinking how they design, engineer, and operate using advanced analytics and digital innovation,” says Ravi Gopinath, AVEVA’s Chief Strategy Officer and Chief Cloud Officer. Smart analytics and artificial intelligence (AI) are empowering industrial teams to collaborate better, operate with agility, and elevate what they can achieve by combining rich, timely, and accurate industrial data with the scope and scale of the cloud. This is going to change the way we live and work.”
In a post-pandemic world, nine out of ten industrial companies see combining advanced technologies like the industrial internet of things (IIoT), AI, and cloud with their teams’ insights as critical to driving better performance. AI and automation are now widely regarded as essential technologies for keeping up with the competition. More than half of companies in China and Germany (56% and 55%, respectively) have made digital transformation a top priority for the coming year, with investments in workforce solutions, cyber security, connected worker strategies, and cloud.
Using Digital Transformation to Address Climate Change
The pandemic has heightened awareness of the need for immediate climate action, which is cited as a top priority by the majority of industrial enterprises (90%). Nine out of ten (89%) businesses are committed to achieving net-zero carbon emissions and addressing climate change within a five-year time frame. According to industry leaders, a focus on sustainability has become a requirement for success.
According to 85% of businesses, sustainability-driven demands will drive innovation across the value chain. As a result, these companies intend to improve visibility and performance assurance for sustainability-related metrics. Germany, Austria, and Switzerland are at the top of the global race for environmental-related business innovation, with 47% of Germans, Austrians, and Swiss seeing it as a major priority, compared to 41% globally.
Approximately 80% of industrial companies are focused on meeting or exceeding environmental regulations, with 83% stating that the transition to renewable energy sources will be a top priority. Circularity and recycling within the value chain are important to 83%of customers, with Latin America leading the way (44% of companies).
“At AVEVA, we are dedicated to assisting our customers in realising the advantages of digital transformation in order to improve efficiency and sustainability. As the industrial world moves faster, AVEVA’s solutions provide a tried-and-true path to achieving net-zero emissions while increasing profitability and sustainability. Performance Intelligence, AVEVA’s unique capability to combine data and AI-infused analytics across the entire industrial lifecycle, is accelerating sustainability for many businesses, according to our research. According to the new research, 75% of companies believe they are on their way to achieving Performance Intelligence, and 89% say they are committed to driving sustainability. At AVEVA, we are dedicated to advancing both of these goals in order to create even more value,” Gopinath concluded.
