Manufacturing Digital Services 2024 Market Insights™

April, 2024


Report Summary

This report identifies key demand-side trends in the manufacturing industry that can help enterprises fine-tune their digital strategies. It also provides an overview of enterprise challenges in this space based on Avasant’s assessment.

Why read this Market Insights?

The manufacturing industry is increasingly adopting smart factory practices for efficiency and driving sustainability by facilitating the transition to circular operations and emissions reduction through partnerships. Manufacturers are prioritizing resilient supply chains with investments in data-driven inventory management and reshoring initiatives. They are using advanced technologies such as generative AI for product design acceleration and are transitioning to experience-based offerings using IoT, AI, and 3D printing to meet evolving customer needs. Additionally, investments in connected solutions and facility modernization highlight their commitment to a safer, more productive work environment. Manufacturing enterprises collaborate with service providers for digital transformation, which requires strong technological expertise and delivery capabilities.

The Manufacturing Digital Services 2024 Market Insights™  helps enterprises in this sector identify important market trends and challenges for any digital project they participate in.


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 4–7)

    • Scope of coverage
    • Key market drivers and enterprise response
    • Avasant recognizes 27 top-tier service providers supporting the manufacturing industry in digital transformation

Demand-side trends (Pages 8–15)

    • Manufacturing companies are implementing transformation initiatives to move toward smart factory adoption.
    • Manufacturers are optimizing internal operations and developing offerings to meet sustainability requirements.
    • Manufacturing companies are coping with supply chain disruptions through technology and platform integration.
    • Manufacturing companies are leveraging generative AI to optimize operations, enhance decision-making, and attain efficiency.
    • Manufacturers are offering aftermarket services beyond products to diversify revenue streams and cater to customer demands.
    • Manufacturing companies are modernizing their facilities and training employees to overcome the labor shortage.

Key contacts (Page 16)

Read the Research Byte based on this report.

Please refer to Avasant’s Manufacturing Digital Services 2024 RadarView™ for detailed insights on the service providers and supply-side trends.