Strategic Focus: How COVID-19 Boosted Digital Strategies For Industrial Firms

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Executive Summary

This report examines how industrial firms have moulded their digital strategies around COVID-19 restriction challenges, using data from the 2020 editions of the Verdantix EHS and Operational Excellence surveys. Despite the issues firms have experienced owing to the COVID-19 pandemic, many businesses have chosen to accelerate their digitization initiatives.  Providers of digital technology including industrial software suppliers shifted their priorities to  help customers handle pandemic specific tasks, either through development of existing solutions or through standalone COVID-related releases. Technology for remote and safe operations received a large amount of investment during the pandemic. However, despite increased spend on digital strategies within firms striving for operational excellence, certain adoption trends will normalize as vaccination efforts reduce COVID-19 outbreaks, while others will maintain their momentum over 2021 and 2022. 

Table of contents

COVID-19 Stimulates Digital Strategies For Industrial Firms  
COVID-19 Accelerates Operational Excellence And EHS Digitization Initiatives 

COVID-19 Spurs Adoption Of Innovative Technology  
Vendors Readjust Their Offerings To Cover Pandemic Usage Scenarios 
COVID-19 Expedites Investment In New Technology For Remote Operations
Adoption Trajectory Of Newly Implemented Technology Will Vary By Use Case Over The Next Two Years 

Table of figures

Figure 1. Impact Of COVID-19 And Recession On Digitization Of Operational Excellence Initiatives
Figure 2. Impact Of COVID-19 On Digital Technology
Figure 3. Growth, Normalization And Decline Of Use Cases In The Next Two Years

About the authors

Hugo Fuller

Industry Analyst
Hugo is an Industry Analyst in the Verdantix Operational Excellence practice. His current research agenda explores the technologies within the industrial asset management software market, with a focus on enterprise asset management software and computerized maintenance management systems. In Advisory, he focuses on go-to-market, thought-leadership and market-sizing work. Prior to joining Verdantix, Hugo worked in PR analytics and studied English at University College London.

Malavika Tohani

Research Director, Operational Excellence
Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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