Factories to robots: how industry is undergoing a digital transformation

The company spent about $1 trillion on digital transformation worldwide in 2020 alone. This investment allows industry to produce more products, improve quality, and strengthen customer connection

Why industry needs to change The global digital transformation market has been growing steadily for years. In 2020, companies' expenses for these purposes approached $1 trillion, according to Mordor Intelligence experts. According to their estimates, the market will almost triple by 2026 — its volume will exceed $2.7 trillion. In addition to modernizing and automating core operational processes, these investments provide many other benefits. “Digital transformation helps organizations improve their brand reputation, customer experience, and retention rates,” analysts emphasize. The fastest changes are in the b2c segments. Here, it is easier to digitize processes than in industry, where the main operations are tied to physical assets. In particular, industrial companies have long lagged behind retail and other b2c players when it comes to digitizing marketing and trading operations, admits McKinsey. But now they're changing, too. As a result, today's transformation...