Automotive Sector Leads Industrial Digital Transformation Charge With US$238 Bn Investment

The automotive sector is the biggest spender on digital transformation. In its latest whitepaper, 4 Key Industries Embracing Industry 4.0, global technology intelligence firm ABI Research forecasts that this sector's spend on Industry 4.0 technologies will approach US$100 billion in 2022 and grow to over US$238 billion in 2030.

The main reason for this is that OEMs and their suppliers need to adjust for the move away from the internal combustion engine to electric powertrains.

"The automotive industry is not alone in its digital transformation acceleration," says Ryan Martin, Industrial and Manufacturing Markets Research Director at ABI Research. "Industry 4.0 – also referred to as smart manufacturing, connected manufacturing, the Industrial Internet of Things, and other monikers – has revolutionized the way companies manufacture, enhance, and distribute products using new technologies."

Michael Larner, Industrial and Manufacturing Markets Research Director at ABI Research adds, "This transformation is not just limited to the manufacturing sector, it has begun shaping other industries and markets throughout the globe."