According to a report by Wipro, the manufacturing industry is leading the way in cloud adoption. 32 per cent of manufacturers have achieved cloud leader status, according to the report.
The adoption of cloud-based technologies has resulted in a rapid business transformation in the European manufacturing industry.
Business leaders in Europe are tapping into the power of the cloud to deploy advanced technologies in order to improve resiliency and manage future risks and supply chain shocks, as a result of the uncertain economic environment. He said that the cloud will allow manufacturers to use artificial intelligence, Internet of Things, data management warehousing and other emerging technologies, and that it will be the bedrock upon which the sector will build the smart factory of the future.
The report stated that 40 per cent of European manufacturers made significant progress in key activities such as IT management, production, planning, procurement, and supply chain operations by using cloud. It added that 56 per cent reported improved productivity, 51 per cent of manufacturers reported improved planning and decision-making, and 56 per cent reported improved productivity.
The cloud is making manufacturing more effective, according to business leaders. The report said that 79 per cent of manufacturers in Europe say cloud has made quality control more effective. Nearly 50 per cent expect to increase their investments in cloud-based quality control.
Protecting investments into the cloud is a priority for European manufacturers. One of the top benefits discovered by 58 per cent of leaders is the decreased costs, while 49 per cent of European manufacturers benefit from increased revenue due to cloud investment. 61 per cent of cloud leaders say they are taking a number of steps to develop cybersecurity teams and skills.
Our report shows that manufacturers who have adopted cloud expect the technology to expand into every area of their business within two years. The benefits of cloud go beyond increasing competitiveness and productivity. Increased revenue, increase reputation, and better manage their carbon footprint can be driven by cloud-enabled businesses. HG said that all of this will be incredibly important as we move into Industry 5.0 and create future-proof businesses.