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Behind the scenes of the world’s leading engineering and construction companies, a profound digital transformation is now underway. Companies are digitising essential functions within their internal vertical value chain, as well as with their horizontal partners along the supply chain. They are enhancing their product portfolio with digital functionalities and introducing innovative, data-based services.
The buzz around Industry 4.0 has moved from talk to action. Engineering and construction companies plan to invest 5% of annual revenue in digital operations solutions over the next five years. And they are setting themselves ambitious targets for the level of digitisation and integration that can be achieved.
The rate of adoption of Industry 4.0 technologies by engineering and construction companies is accelerating fast. The digitisation, integration and automation opportunities offered by these technologies allow for a step change in productivity as well as design and quality.