IDC FutureScape: Worldwide Manufacturing Product and Service Innovation 2024 Predictions
This IDC study provides IDC's 2024 top 10 predictions for manufacturing product and service innovation."As the world economy adapts to expanding geopolitical and supply chain uncertainties, manufacturers are striving to become agile in pursuing opportunities and resilient in responding to disruptions. Manufacturers across value chains, including engineering, asset, brand, and high tech-oriented environments, recognize the need to deliver comprehensive value propositions that benefit customers and stakeholders. High-quality data is the currency of the digital-first world, providing manufacturers with real-time decision support that represents the foundation for growth and profits. Over the next five years, manufacturers will face unforeseen challenges and opportunities but only digitally driven businesses will be prepared to navigate these waters and continue to deliver better products, faster service, and higher customer satisfaction." — John Snow, research director, Product Innovation Strategies at IDC Manufacturing Insights
Please Note: Extended description available upon request.
- IDC FutureScape Figure
- Executive Summary
- IDC FutureScape Predictions
- Summary of External Drivers
- Predictions: Impact on Technology Buyers
- Prediction 1: By 2028, the Demand for Product Innovation Will Drive 50% of Large Manufacturers to Evaluate Engineering Archives Using Generative AI to Uncover New Opportunities for Old Innovations
- Associated Drivers
- IT Impact
- Guidance
- Prediction 2: By Early 2027, 70% of OEMs Will Rely on Generative Design Technologies to Develop High-Quality, Low-Cost, Sustainable Products That Are Optimized for Manufacturing and Supply Chain Disruptions
- Associated Drivers
- IT Impact
- Guidance
- Prediction 3: By 2027, Early Adopters Will Use an Industrial Metaverse for Simulating Behaviors of Complex Engineered Products to Reduce Cost and Carbon Footprint and to Improve Collaboration and Feedback
- Associated Drivers
- IT Impact
- Guidance
- Prediction 4: By 2027, 30% of Global Manufacturers Will Incorporate Circularity into Their Product Life Cycle to Improve Raw Material Resiliency While Reducing Carbon Footprint Emissions per Unit
- Associated Drivers
- IT Impact
- Guidance
- Prediction 5: By 2026, to Promote Personalized Products as Added Value, 30% of Global Manufacturers Will Fully Utilize AI/ML for High-Mix, Low-Volume Production
- Associated Drivers
- IT Impact
- Guidance
- Prediction 6: Nonvalue Tasks Damage Morale, Hence by Late 2026, 60% of G2000 Service Firms Will Rely on GenAI to Populate Data in Work Orders, Debriefs, and Invoices to Help Workers Focus on Value Creation
- Associated Drivers
- IT Impact
- Guidance
- Prediction 7: To Foster Innovation, by Early 2025, 55% of G2000 Service Firms Will Incorporate Real-Time Service Data into Cross-Functional Data Streams to Amplify the Value of Service Outcomes
- Associated Drivers
- IT Impact
- Guidance
- Prediction 8: By Mid-2026, Customers Will Outsource More Than 40% of Their Remote Diagnostics and Other Services Functions to Third-Party Engineering Services Partners to Improve Quality and Performance Issues
- Associated Drivers
- IT Impact
- Guidance
- Prediction 9: By 2026, Manufacturers Using Service Life-Cycle Data Services for Collaborative Partnerships with Suppliers and Customers Will Experience 40% Better Service Delivery and Supply Chain Efficiency
- Associated Drivers
- IT Impact
- Guidance
- Prediction 10: By 2026, 60% of Manufacturers Will Use Generative AI in Human-Centric Process Design, Cocreating Solutions with Employees, Which Will Lead to 20% More Innovative Product and Service Ideas
- Associated Drivers
- IT Impact
- Guidance
- Advice for Technology Buyers
- External Drivers: Detail
- AI Everywhere — Generative AI Takes the Spotlight
- The Drive to Automate — Maximizing Efficiency and New Opportunities
- Global Supply Chain Resiliency — Push for Diversification
- The Digital Business Imperative — Competitiveness and Outcomes
- Everything as a Service Intensifies — Transforming Models to Drive Change
- Dynamic Work and Skills Requirements — New Work Mode Era
- Operationalization of ESG — Measuring and Implementing Sustainability
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- Related Research
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