FINAL WORD
The good
• Manufacturers and other industrial companies in Europe are changing more ambitiously and holistically . Almost three-quarters ( 72 %) have started far-reaching transformation programmes during the past two years , versus 64 % of companies across other sectors . Over half ( 57 %) said they wanted to achieve ‘ a major step change that sets a new level of performance in the industry ’ ( vs . 45 % overall ).
• Companies in Europe rate their transformation efforts a success . When asked how successful their transformation was or is expected to be , manufacturers and other industrial companies in Europe rated their achievements on par with companies in other sectors and regions . A quarter said they had exceeded or will exceed the business case ; almost 60 % stated they had met or will meet the business case .
• Europe ’ s industry has invested more broadly than others in technology . During the past two years , companies have increased the implementation of key technologies – for example , cloud services ( 82 % vs . 70 % of global industrial sector companies ) and AI and automation ( 76 % vs . 64 % of global industrial sector companies ). The research shows similar leads in data , security and network and connectivity technology investments .
• Commitments to transformation remain strong . Even in a recession , 86 % of Europe ’ s manufacturers and other industrial companies would accelerate their programmes ( vs . 75 % overall ). For many , Metaverse and Web 3.0 technologies will be part of this ongoing enterprise transformation , as 61 % said they were planning to implement these technologies within the next 12 months ( vs . 53 % of all companies ).
The not so good
• However , they still need to catch up financially . Compared to all companies worldwide , Europe ’ s
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