IOT NEWS

Industrial IoT News

Industrial IoT Home

BDO Releases 2020 Middle Market Industry 4.0 Benchmarking Survey

By Ken Briodagh
June 12, 2020

BDO recently released the results of a study that surveyed 100 C-Suite executives about how manufacturers are using Industry 4.0 technologies to mitigate COVID-19’s impacts, in addition to other subjects.

Other reported results:

Early Adopters’ Advantages: Nearly one-third of manufacturers were already implementing an Industry 4.0 strategy at the start of 2020, up 5 percent from 2019, and the oncoming recession will widen the gap between the early movers and manufacturers that have failed to embrace Industry 4.0

Standing Out to Survive a Downturn: 41 percent of manufacturers reported increasing market differentiation as a top short-term business objective, which will be key to survival amid increasing competition and commoditization, according to the paper. There are also opportunities for manufacturers to gain competitive advantage in a downturn, such as through gaining strong brand recognition by helping combat COVID-19

Laying the Groundwork for Recovery: Two-thirds of the manufacturers cited boosting operational efficiencies as a top short-term business objective, which will be crucial to navigating an environment where manufacturers are forced to do more with less, according to the authors

CX Spurs Success: 65 percent of manufacturers cited improving CX as one of their top short-term business goals, which will be key to navigating a downturn. Manufacturers will need to implement strategies focused on retaining customers and building loyalty, which will require adapting their business models to meet changing customer needs & behavior in the post-COVID-19 world

To see the full report, click here.


Ken Briodagh is a storyteller, writer and editor with about two decades of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

Winners of the 2021 IoT Evolution Industrial IoT Product of the Year Awards Announced

By: TMCnet News    3/30/2021

TMC, a global, integrated media company helping clients build communities in print, in person and online, in conjunction with its partner Crossfire Me…

Read More

Will Mid-Tech Products Drive IoT Innovation in 2021? This CEO Thinks So

By: Arti Loftus    11/12/2020

As we head into the New Year, it is that time of year for planning and predictions, and this year, creating strategies in the midst of what could be a…

Read More

Beyond the Closet, Connecting to IoT

By: Gary Audin    11/11/2020

Two challenges arise when considering cable based IoT.

Read More

IoT Award-Wining Saepio Solution from scriptr.io Leads Industry in Social Impact

By: Ken Briodagh    11/11/2020

In a recent announcement, scriptr.io was given a 2020 IoT Evolution Community Impact Award for its Saepio solution, which is designed to facilitate sa…

Read More

ORBCOMM's New Communication Device Enables Providers to Add Satellite to IoT

By: Ken Briodagh    11/11/2020

Offers cost-effective, two-way satellite communications and reliable dual-mode coverage in remote areas around the world with limited cellular connect…

Read More