Rockwell Automation, a leading company dedicated to industrial automation and digital transformation, has released the findings from its 9th annual “State of Smart Manufacturing Report: Automotive Edition.” This comprehensive study captures the perspectives of 182 leaders from automotive manufacturers, automotive supply manufacturers, and electric vehicle manufacturers across 15 of the leading manufacturing countries, including India.
The 2024 report highlights the automotive industry’s shift towards leveraging emergent technologies to mitigate risks, drive growth, and optimise workforce potential. With the advent of Industry 4.0, automotive manufacturers are increasingly cognizant of the evolving landscape, particularly in light of cyberattacks that caused $1.99 billion in system downtime costs during the first half of 2023.
Key Findings
Cybersecurity Risk: Identified as the top external obstacle for automotive manufacturers in 2024, a significant jump from its ninth position in 2023.
Adoption of Smart Manufacturing Technology: 97% of automotive manufacturers are now using or evaluating smart manufacturing technologies, up from 85% in 2023.
Increased Technology Investments: Investments in technology rose by 35% year-over-year, from 23% to 31% of the operating budget.
Wearable Technology: Ranked third among the top ten investment areas for automotive manufacturers in 2024.
Employee Engagement: Highlighted as the top workforce-related challenge for automotive manufacturers in 2024.
Reducing Manufacturing Waste: The most crucial factor for automotive manufacturers’ Environmental, Social, and Governance (ESG) programmes.
Dilip Sawhney, Managing Director of Rockwell Automation India, said, in the age of Industry 4.0, cybersecurity is emerging as a major concern for automotive manufacturers, underscoring the industry’s heightened awareness of digital threats and the urgent need for robust cybersecurity measures.
As the Indian automotive sector shifts towards electric vehicles, manufacturers need to adopt smart technologies to enhance resilience, reduce waste, optimise production, and drive sustainable growth. Rockwell Automation assists the Indian automotive sector in overcoming these challenges by offering innovative solutions that enhance security, drive growth, and foster sustainability, he added.
Automotive manufacturers are also prioritising strategies that focus on workforce retention, upskilling, and engagement. Technologies such as smart manufacturing and automation are seen as critical tools that complement and enhance the value brought by employees, driving positive business outcomes.
Report Methodology
The report is based on responses from 182 managers and executives within the automotive sector, part of the larger 9th annual State of Smart Manufacturing report. This broader survey included 1,567 manufacturing leaders across various industries and was conducted in association with Sapio Research and Rockwell Automation.
With these insights, Rockwell Automation aims to support the automotive industry's transition into a new era of digital transformation, ensuring robust cybersecurity, enhanced operational efficiency, and sustainable growth.
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