Digitization in industrial sector is set to grow to 65% in the next five years as it is a priority for most CEOs in the industry, according to a PwC report.
“Industrial leaders are digitizing essential functions within their internal vertical operation processes and are driving both revenue growth and operational efficiency,” the report said.
According to Price water house Coopers’ (PwC) Industry 4.0 report, more than a quarter of the Indian companies in the survey have rated their level of digitization as high, and this value is expected to rise to 65%.
Globally, this number is expected to rise to 72% from 33%, the report noted.
“For an emerging economy like ours, with a strong focus on growth, it is natural that industrial products sector will leverage the technological breakthroughs for building its ecosystem,” said Sudipta Ghosh, Leader, Data and Analytics, PwC India.