Says this period will be an opportunity for India-based manufacturing enterprises and service providers to reclaim earlier waves missed
International Data Corporation India recently released a research report on recent trends in manufacturing and more importantly on digitization initiatives and IT spend forecasts across industry segments and enterprise applications.
Automotive continues to be the innovator and biggest spender. Consumer product goods such as food & beverage, fashion and apparel will see maximum growth close to 9% due to regulatory, traceability, supply chain visibility and demand management requirements.
In terms of enterprise applications, the traditional enterprise management which includes ERP is the biggest spending area. Interestingly, “Security” will see maximum growth close to 15% due to the vulnerabilities thrown open in today’s emerging technology landscape opening up the enterprise to several partners and gateways outside the enterprise. Roles such as CISO (Chief Information Security Officer) are gaining significance in today’s organization structure.
IDC classifies manufacturing broadly into four buckets based on the value chain, with each one having its unique characteristics – asset, brand, engineering and technology oriented value chains. The report analyses key trends, areas of investment and recent updates in each of these value chains. Any report on digitization is incomplete without mentioning the 3rd Platform – cloud, mobility, social and Big Data/analytics.
The report covers recent adoption rates, use cases and examples of application in the industry. Technologies such as IoT, that are part of what IDC calls “Innovation Accelerators” (others being robotics, 3D printing, natural interfaces, security technology) are no longer buzz words. IoT is a technology that has seen fastest adoption trends compared to other in 3rd platform, as evident from the recent CIO Summit 2015 findings.
“This period will be an opportunity for India-based manufacturing enterprises and service providers to reclaim earlier waves missed, leverage emerging technologies including the 3rd Platform and innovation accelerators, integrate them with earlier legacy systems, and leapfrog toward best-in-class systems,” said S Ramachandran, Principal Research Manager, IDC Manufacturing Insights. “It will be a phase where CIOs and business leaders need to keenly observe emerging trends in technology, evaluate how it impacts their organization and plan their investments accordingly to stay competitive.”
