New Data Identifies Manufacturing Industry's Five Most Critical Priorities for 2022
ALPHARETTA, Ga., Dec. 15, 2021showcases a faster return to growth following the pandemic for manufacturing organizations that have achieved digital transformation maturity. The study, in which the sponsor was not revealed to the respondents, indicates that manufacturers who have undertaken digital transformation projects have generated higher revenue growth in 2021 than those who have yet to embark on that journey. Manufacturing organizations in advanced stages of transformation recorded average year-on-year revenue growth of 8.9% in 2021, compared to 1.4% among manufacturers that have not started digital transformation projects.
The research also revealed a relatively healthy state of recovery from challenges created by the COVID-19 pandemic with 40% of North American manufacturers now classing themselves as prospering. A further 25% say their organization has fully recovered from market turbulence, while 19% are still recovering. Fifteen percent (15%) of manufacturers claim their business is still struggling. Almost half (44%) of prospering manufacturers are already on a digital transformation journey.
The research was conducted by Aptean and B2B International between September and October 2021. Responses came from 275 business decision makers at manufacturing companies in North America within the process and discrete manufacturing sectors. The study identified five critical priorities that manufacturers must address in 2022 and these - along with the full research findings - are now available in a new whitepaper, The Aptean 2022 Manufacturing Forecast: Industry Insights from Discrete and Process Manufacturers.
"Digital transformation is no longer a medium-term objective for manufacturers; our research shows it's imperative in order to thrive in the new normal of manufacturing," said TVN Reddy, CEO at Aptean. "Many companies feel too confined by day-to-day demands to launch their digital transformation strategy, but in reality, prioritizing modern manufacturing software enables them to reduce the operational burden on their workforce and focus on strategic innovation to drive revenue growth."
In addition to the impact of digital transformation, the research explored:
- How operational and supply chain challenges have impacted manufacturers' customer relationships in 2021
- Which business areas manufacturers believe will be most transformed through technology
- How sub-sector, company size and maturity has impacted manufacturers' overall performance and technology investment priorities
Copies of the Aptean 2022 Manufacturing Forecast are now available for download here.
About Aptean
Aptean is one of the world's leading providers of purpose-built, industry-specific software that helps manufacturers and distributors effectively run and grow their businesses. With both cloud and on-premise deployment options, Aptean's products, services and unmatched expertise help businesses of all sizes to be Ready for What's Next, Now. Aptean is headquartered in Alpharetta, Georgia and has offices in North America, Europe and Asia-Pacific. To learn more about Aptean and the markets we serve, visit www.aptean.com.
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