target audience: TECH SUPPLIER Publication date: Apr 2023 - Document type: Market Presentation - Doc Document number: # US49876223
Industry Performance Indices: Worldwide Manufacturing, 2023
This IDC Market Presentation explores the impact of digital transformation (DX) activities on manufacturing organizations to determine whether the revenue and profit outcomes differ based on the maturity of digital adoption. It focuses exclusively on the top global manufacturing organizations (based on global revenue), with representation from a wide variety of manufacturing subverticals and shows a positive correlation between successfully executed DX and improved revenue and profit outcomes.
"Coordinated digital transformation efforts that are transitioning manufacturers to digital enterprises are resulting in higher-than-average returns in terms of revenue and profit performance," says Ravikant Sharma, senior research manager at Industry Insights Group in IDC Asia/Pacific.
"In today's highly competitive business landscape, digital transformation is no longer an option — it is a necessity. Manufacturing companies that are slow to adopt digital technologies risk losing competitive advantage, whereas those who invest in digital transformation are generally seeing significant financial gains," says Stephanie Krishnan, associate vice president, IDC Manufacturing, Retail, and Energy Insights, Asia/Pacific.