New Study Finds Cybersecurity as Top Concern Among Automotive Manufacturers
Results from the 9th annual State of Smart Manufacturing Report: Automotive Edition are out. The global study encompasses the responses of 182 leaders from automotive manufacturers, automotive supply manufacturers, and electric vehicle manufacturers across 15 of the leading manufacturing countries.
This year’s report emphasizes the evolution of the automotive industry, revealing a focus on harnessing emergent technology to reduce risk, generate growth, and maximize workforce potential. Automotive manufacturers are acutely aware of the industry's evolution in the era of Industry 4.0, particularly as cyberattacks resulted in $1.99 billion in system downtime costs in the first half of 2023 alone.
Key global findings include:
- Cybersecurity risk is listed as the top external obstacle for automotive manufacturers in 2024 – up from 9th position in 2023.
- 97% of automotive manufacturers are using or evaluating smart manufacturing technology – up from 85% in 2023.
- Wearable technology is listed as one of the top 10 investment areas for automotive manufacturers in 2024, ranking third overall.
Learn more here.