Statspeak: 50% manufacturers to spend over $100 mn in product lifecycle

Manufacturers lack data management capabilities

Global manufacturing industry could expect to see between $519-$685 billion in value-added revenue by 2020 through the development and sale of smart, connected devices, according to “Digital Engineering: The new growth engine for discrete manufacturers” report published by Capgemini’s Digital Transformation Institute. 

The report  says manufacturers are spending more on developing product lifecycle management platforms and digital solutions, while the proportion of IT budget earmarked for maintaining legacy systems has dropped significantly, from 76 per cent in 2014 to 55 per cent in 2017.