Global Corporate Survey 2022: Operational Excellence Budgets, Priorities & Tech Preferences
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Executive Summary
This report provides senior managers in operations, engineering, maintenance, process safety, and data science and IT roles who are responsible for operational excellence with a benchmark of their peer group’s budgets, business priorities and technology preferences. The data collected through the Verdantix survey also support strategic decision-making and business planning by executives at technology vendors and service providers, by helping them understand trends in customer requirements. Verdantix selected 301 respondents from 20 distinct industries, spanning 22 countries across 13 regions, with 90% of interviewees representing firms with revenues greater than $1 billion. Budgets for operational excellence initiatives are looking healthy for 2023, with 83% of respondents reporting a planned increase in spending. Respondents provided insights into predicted spending changes and implementation plans for software and technology in 2023 and 2024.Global Survey of 301 Corporate Operational Excellence Decision-Makers From Diverse Industries
Operational Excellence Programmes Are Coordinated Across Multiple Functions And Regions
Operational Excellence Budgets Will Continue to Grow, Despite Inflation And Energy Supply Shortages
Spend On Operational Excellence Initiatives Continues To Grow In 2023
Availability Of New Technology Drives Digital Transformation Of Plant Operations
Cost Pressures, Net Zero Goals And Labour Shortages Propel Industrial Digitization Efforts
Demand For An Integrated Suite Of Applications For Asset And Risk Management Activities Drives Investment In Software
Innovative Technologies Are Changing The Way Heavy Industry Interacts With Assets
Figure 2. Survey Respondents’ Business Function
Figure 3. Industry Breakdown Of Survey Respondents
Figure 4. Geographic Location Of Survey Respondents
Figure 5. Change In Operational Excellence Spend For The Next 12 Months
Figure 6. Operational Excellence Priorities For 2023
Figure 7. Factors Driving Digital Transformation Of Plant Operations
Figure 8. ESG And Sustainability Initiatives For 2023
Figure 9. Significance Of Connected Worker Solutions In Solving Frontline Workforce Challenges
Figure 10. Level Of Digital Maturity For Industrial Asset Management
Figure 11. Software Investment Plans For Asset Management In 2023
Figure 12. Industrial DataOps And Data Management Priorities For 2023
Figure 13. Operational Risk Management Investment Plans For 2023
Figure 14. Perceived Benefits Of Control Of Work Software
Figure 15. Evaluation Criteria For Industrial Asset Management Software
Figure 16. Investment Plans For Operational Excellence Digital Innovations
Figure 17. Value Propositions Offered By Industrial Digital Twins
About the Authors
Joe Lamming
Senior Analyst
Joe is a Senior Analyst and Technical Lead at Verdantix, specializing in AI-first platforms and applications and data management. Combining hands-on development of software an…
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef…
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