Manufacturers worldwide are facing major challenges when it comes to investment in Industry 4.0, particularly in these times of crisis. In its latest study, Siemens Financial Services (SFS) has developed a model that conservatively estimates the amount of investment required for the digital shift to smart factories by 2024: global investment in smart factories is expected to amount to almost $400 billion over the next five years.
What's more, transformation is urgent. A previous SFS study shows that the window of opportunity to get ahead of the competition will reach a "tipping point" in 5-7 years, after which manufacturers will have to catch up.
Savvy manufacturers are deploying new financing models, mainly from specialist manufacturing financiers, that offer commercially viable payment methods for this imperative digital transformation.
"Given the double pressure on European manufacturers from increasing competition on national and international markets, investment in digital transformation has reached a critical stageexplains Thierry Fautré, President of Siemens Financial Services, France. Intelligent financing offers sustainable investment methods that enable manufacturers to achieve desired, clearly defined business outcomes, all by accessing appropriate technologies and services with the help of a specialist financier. This is particularly favourable given the enormous economic impact of the current global health crisis."