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Insight of the Day: New study finds cybersecurity as top concern among automotive manufacturers

Key Findings from Rockwell Automation's 9th Annual State of Smart Manufacturing Report:

Industry Evolution and Challenges:

  • Cybersecurity is the Top Concern: Cyberattacks have caused significant financial losses for automotive manufacturers, leading to a heightened focus on cybersecurity as the top external obstacle in 2024.

  • Smart Manufacturing Adoption Growing: 97% of automotive manufacturers are now using or evaluating smart manufacturing technology, a significant increase from the previous year.

  • Increased Technology Investments: Investments in technology have risen by 35%, reflecting the industry's commitment to digital transformation and innovation.

  • Workforce Challenges: Employee engagement and retention remain top workforce-related obstacles, highlighting the need to prioritize workforce upskilling and adoption of new technologies.

Key Trends:

  • Prioritizing Cybersecurity: The sharp rise in cybersecurity concerns indicates a growing awareness of the risks associated with Industry 4.0 technologies and the need for robust security measures.

  • Embracing Smart Manufacturing: The widespread adoption of smart manufacturing technologies demonstrates the industry's recognition of their potential to improve efficiency, reduce costs, and enhance competitiveness.

  • Investing in Wearable Technology: The focus on wearable technology suggests a trend towards empowering the workforce with tools that improve productivity and safety.

  • Focusing on Sustainability: The emphasis on reducing manufacturing waste as a key ESG goal reflects the industry's growing commitment to environmental responsibility.

Conclusions:

  • The automotive industry is undergoing a rapid transformation driven by Industry 4.0 technologies.

  • Cybersecurity, workforce engagement, and sustainability are top priorities for automotive manufacturers.

  • Investing in smart manufacturing, automation, and wearable technologies is crucial for staying competitive and achieving sustainable growth.

  • Organizational change management and workforce upskilling are essential for successful digital transformation.

Implications for Brands:

  • Automotive brands need to prioritize cybersecurity measures to protect their operations and data from cyberattacks.

  • Investing in smart manufacturing and automation technologies can help improve efficiency, reduce costs, and enhance competitiveness.

  • Focusing on workforce engagement and upskilling is essential to ensure employees can effectively utilize new technologies and adapt to the changing industry landscape.

  • Adopting sustainable practices and reducing manufacturing waste can help brands meet ESG goals and appeal to environmentally conscious consumers.

  • Partnerships with technology providers like Rockwell Automation can provide the expertise and solutions needed to navigate the complexities of digital transformation.

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