This report identifies key demand-side trends in the manufacturing smart industry services space, helping enterprises fine-tune their engineering and manufacturing transformation strategies. It provides an overview of key observations and enterprise challenges that Avasant considers important to highlight in the smart industry services space.

Why read this Market Insights?

The engineering research and development (ER&D) domain is constantly evolving with emerging buyers’ preferences, product complexity, and cost pressures. Enterprises are increasingly looking to transform and integrate their engineering and manufacturing processes to adapt to these changes. They now need parallel support from product and software engineers to build complex products and automatically integrate disparate processes. This necessitates that engineering and manufacturing enterprises simultaneously transform their people, processes, and technologies by collaborating with digital engineering service providers.

The Manufacturing Smart Industry Services 2023 Market Insights™ aids enterprises in identifying important market trends and expectations for any smart industry projects they take part in.

Methodology

The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.

Table of contents

About the report (Page 3)

Executive summary (Pages 4–8)

• • Definition and scope of manufacturing smart industry services
  • Key enterprise smart industry trends shaping the market
  • Avasant recognizes 18 top-tier providers supporting the enterprise adoption of manufacturing smart industry services

Demand-side trends (Pages 9–16)

• • Traditionally, engineering and manufacturing enterprises were averse to digitalization and focused on operational metrics.
  • Technological, social, and economic advances nudging the transformation of engineering and manufacturing processes.
  • Enterprises are creating product and brand differentiation by targeting impact-driven KPIs.
  • Concerns about security and complex customization challenges in technology adoption are fading away.
  • To meet the needs of digital engineering, enterprises are investing in engineering talent with advanced digital skills.
  • Organizations are integrating design and production processes through system integration, automation, and digital thread.
  • Enterprises are engaging with digital engineering partners to meet their operational and strategic objectives.

Key contacts (Page 17)

Read the Research Byte based on this report.

Please refer to Avasant’s Manufacturing Smart Industry Services 2023 RadarView™ for detailed insights on the service providers and supply-side trends.