Industrial business transformers unite
In response to the seismic changes in the global economy, business transformation is a key priority for senior leaders across the industrials sector. This includes completely new business models, new materials and a renewed focus on the customer experience. As industrials leaders reinvent their business, the coming years could be the most exciting times since the dawn of lean production or the assembly line.
The new models: The production-as-a-service (PaaS) model has not yet proliferated in industrial settings, although small-scale offerings related to the use of specific equipment have appeared. PaaS expands this approach to the scope of an entire factory. More than two-thirds of manufacturing leaders (85%) are considering it, and annual investment is forecast to grow to $100 billion in the coming years.1
Now in 3D: Additive manufacturing and 3D printing using new advanced materials continue to be at the forefront of Industry 4.0. There will be 2.8 million 3D printing devices globally by 2030 while the size of the 3D printing market is expected to grow to $37 billion by 2026.2
A prime challenge: The high bar that B2C giants have set for personal and customised customer experience increasingly extends to B2B industrial companies. Today, more than half of B2B buyers (60%) say they would prefer to buy online instead of traditional sales channels. Organisations that can build a more digital, customer-centric sales experience faster will operate at a competitive advantage.3
1. Boston Consulting Group, 2. Statista, 3. McKinsey
Contingent workforce optimisation strategy will be key for PaaS operations with multiple customers and fluctuating demand
Upskilling and reskilling efforts must keep up with the rapidly evolving technologies such as additive manufacturing and rapid prototyping
Major players in the industrials sector will need to compete with other industries for in-demand customer experience (CX) and user experience (UX) development expertise.
85% OF MANUFACTURERS WOULD CONSIDER PRODUCTION-AS-A-SERVICE IN THE FUTURE (PAAS)
