A new report commissioned from KPMG by the Society of Motor Manufacturers and Traders (SMMT) has highlighted a £74 billion opportunity for the UK if the industry fully embraces digitalisation over the next two decades.
Alongside the ongoing development of ultra low emission and connected and autonomous vehicles, the transition to digital manufacturing represents the biggest step change for automotive manufacturing since the introduction of automation in production lines in the 1960s.
New technologies such as intelligent robotics, 3D-printing and artificial intelligence, combined with new approaches to data management, will help manufacturers and the supply chain to save time, boost productivity, reduce waste and costs, and respond more effectively to consumer demand. These technologies will also reduce plant maintenance and machine downtime, enable faster product planning and more accurate forecasting of customer needs.
Customers, meanwhile, will enjoy greater levels of personalisation, more product content and connectivity, more responsive service and even shorter waiting times for new models.
‘The Digitalisation of the UK Automotive Industry’ report, launched at SMMT’s annual dinner, examines the future of digital manufacturing, also known as Industry 4.0, and outlines the benefits for the industry, consumers and the wider economy, as well as highlighting the potential challenges the UK sector must overcome.
Key Highlights include: