teknowlogy’s CxO Survey 2019: Manufacturers plan to spend more on cyber security, AI, and cloud

Increased competition and the resulting need to reduce costs and increase efficiency are among the major challenges of manufacturing companies worldwide. Investments are, therefore, often related to IT projects that help to reduce costs and increase the efficiency of operations.

According to teknowlogy’s recent CxO survey results, the major IT topics on which manufacturers plan to spend more in order to achieve these goals include artificial intelligence (AI), cloud computing, analytics, and data management, as well as investments in technical applications such as CAD, command control, and SCADA for plant operations management.

Also, in order to be able to better face the ever faster changing customer demand or demand for individualization, it is interesting to see that manufacturers also plan to spend more on CRM and customer experience management in order to better address and target customers.

Besides investments related to increasing efficiency, reducing costs, and better addressing customers and their demands, investments in cyber security are definitely, as in previous years, the number one priority for manufacturers when it comes to their IT investment plans for the next two years.

teknowlogy conducted the 2019 edition of its annual 'SITSI® CxO Investment Survey', interviewing IT decision-makers in user companies covering teknowlogy’s SITS core markets to get their views on current IT trends, key requirements, and investment plans. In the manufacturing industry, 581 companies worldwide participated in the survey. The interviews were conducted with IT department managers and line of business managers who are involved in decisions concerning (local) IT budgets, IT investments, or IT sourcing.

There will be two reports that present and discuss the key results of the study for the manufacturing industry. The first report (part 1, which is already available here) provides primary research data and analysis on the business and IT challenges that companies are facing and prioritizing, as well as IT spending and budgets regarding different topics, projects, and services. The second report (part 2) provides research data on innovative IT topics such as AI, IoT, and cyber security.