If you’re looking for an accurate analysis of the state of the manufacturing industry, then go straight to the source: the workers. Reputable research conducted by industry organizations is invaluable when you’re trying to make decisions for your plant or your business. In this roundup, we’ll highlight the latest surveys, reports, studies, and research that delves into the trends, topics, and technologies that are affecting the manufacturing sector.
Vector Solutions' State of Industrial Worker Safety and Well-Being Report
Methodology:
More than 600 industrial professionals were surveyed, including maintenance, production and operations, engineering, and health and safety workers.
Key takeaways:
- Safety is the second most important factor, after pay, for workers to remain in a job
- 46% of workers believe their employer could be doing more to reduce safety incidents
- 83% of respondents say that their company's safety protocols feel like checkboxes rather than genuine commitments to employee well-being
- 58% of them believe additional training would improve their workplace safety
Quote:
"Safety plays a critical role in the well-being and productivity of our workforce. We conducted this study to better understand the current state of safety initiatives, training, and technology within the industrial sector. The findings revealed that employers have a lot of room for growth when it comes to prioritizing the safety of their workers, especially with regards to providing staff with accessible and comprehensive safety training." – Clare Epstein, General Manager of Commercial at Vector Solutions
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Semiconductor Industry Association's Emerging Resilience in the Semiconductor Supply Chain
Predictions:
- From 2022 to 2032, the U.S. will triple its domestic semiconductor manufacturing capacity
- The U.S. will grow its share of advanced logic (below 10nm) manufacturing to 28% of global capacity by 2032
- America is projected to capture over one-quarter (28%) of total global capital expenditures (capex) from 2024-2032
Key takeaways:
- The U.S. share of the world’s chip manufacturing capacity will increase from 10% in 2022 to 14% by 2032
- The projected 203% increase in U.S. fab capacity from 2022 to 2032 stands in stark contrast to its modest 11% increase from the previous decade
Quotes:
“Effective policies, such as the CHIPS and Science Act, are spurring more investments in the U.S. semiconductor industry. These investments will help America grow its share of global semiconductor production and innovation, furthering economic growth and technological competitiveness. Continued and expanded government-industry collaboration will help ensure we build on this momentum and continue our next steps forward.”— Rich Templeton, Chairman of the Board at Texas Instruments and SIA board chair
“The CHIPS and Science Act has put America on course to significantly strengthen domestic semiconductor production and R&D, but more work is needed to finish the job. We look forward to working with government leaders to advance policies that broaden the STEM talent pipeline, invest in scientific research, promote free trade and access to global markets, and expand and extend critical CHIPS incentives.” — John Neuffer, SIA president and CEO
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Rootstock Software's 2024 State of Manufacturing Technology Survey
Methodology:
508 manufacturers across countries in North America, Europe, and Asia were surveyed from February to April 2024.
Key takeaways:
- While 90% of manufacturers are utilizing AI, 38% feel like they are behind their peers
- The top two barriers to digital transformation are constraints surrounding budget/resources (31%) and time (27%)
- Top concerns for manufacturers are unreliable suppliers (39%) and decreased demand (36%)
- 51% of manufacturers are planning to increase spending in enterprise software, such as ERP, CRM, HCM, SCM and finance
Quotes:
“Today’s economic climate is driving an urgent need for manufacturers to do more with less. To navigate the volatile micro and macro trends occurring at a local and global scale, manufacturers are recalibrating technology investments and resetting what ERP means in the age of AI. In years past, they’ve hobbled along on incremental benefits from legacy solutions. But now they’re seeing the benefits of a modern, cloud-first, AI-ready platform approach. Acquiring these capabilities will deliver the benefits that matter most to manufacturers, namely precise control over their resources, the ability to adapt to ever-changing conditions, and more time to focus on initiatives that truly deliver value.” – Raj Badarinath, Chief Product & Marketing Officer at Rootstock Software
“The Manufacturing Signal Chain has become a powerful paradigm for manufacturers seeking to optimize their digital transformation initiatives and bring to bear an AI-driven decisioning platform. Our survey demonstrates the effectiveness of this approach, and we expect to see early Signal Chain adopters thrive in the years ahead, armed with the data needed to make better decisions that drive growth.” – Stu Johnson, Rootstock’s Vice President of Product Marketing
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