Gartner: Top 5 Manufacturing Business Trends for 2021
August 4, 2021
Top Trends Include Digital and Product Experience, Data Monetization and Ecosystem Partnerships
identified the top 5 business trends that will impact the global
manufacturing sector in 2021. These trends will drive business
disruption and widen opportunities for manufacturers.
CIOs can use these five strategic business trends to improve top-line growth by providing better experiences.
Trend 1: Digital + Product Experience
Digital + Product experience is the combination of
physical products and digital services for unique product offerings to
B2B customers and consumers. The pandemic limited customer engagement
touchpoints due to the severe lockdown restrictions globally. The
combination of digital and product aims to address this challenge of
providing an engaging platform that matches consumers’ expectations.
This is not just about an additional service, but the ability to have a
new digital business model where manufacturers can maintain a connection
with the consumer past the sale of the product, by connecting more with
the brand as well as with brand experts, other customers and advanced
Trend 2: Total Experience
Total experience is about how CIOs can use technology
and interactions to enhance, empower and embolden both customers and
employees to improve their lifetime value. Using this approach, CIOs can
identify the right platform that will connect customers, partners and
employees. For example, an employee acting as a brand expert or customer
service agent to a consumer, answering questions.
Trends 3: Ecosystem Partnerships
Global organizations can utilize ecosystem partnerships
as an opportunity to grow not only in mature markets, but in developing
markets as well. In manufacturing, ecosystem partnerships can enable all
types of initiatives, such as earth-friendly packaging, enablement of
underdeveloped/underserved communities and emission reduction through
remote work capability.
“Gartner’s findings validate our market experience. Every day diverse stakeholders are reaching out to SmartSolve in order to investigate eco-driven partnerships. SmartSolve offers sustainable bio-based technologies which help companies deliver magical experiences to their customers while knowing they are reducing dependence on single-use plastics,” added Jonathan Jakubowski, SmartSolve Industries Director.
Trend 4: Data Monetization
Data monetization gives manufacturing CIOs the ability
to obtain revenue from digitizing their products and services. The rapid
digitalization within manufacturing organizations creates large amounts
of data. CIOs can share and monetize this data across the ecosystem.
Using this approach, CIOs can use information as an asset, and create
new services or enter new business models. This can ensure continuous
revenue even when the business is disrupted by external factors, such as
supply chain challenges or human resource shortage.
EaaS is a commercial model where businesses pay for
operational assets through recurring operating charges rather than
purchasing equipment. In this model, CIOs use embedded Internet of
Things (IoT) technologies that leverage common IoT design patterns and
industry frameworks to ensure asset effectiveness and find solutions to