Digital transformation in industrial sectors is driving potential investor opportunities
- 28 June 2024 (5 min read)
Industrial sectors are currently undergoing widespread digital transformation, introducing new potential investment opportunities.1
Industrial spending is up as companies digitize technologies and processes to stay competitive. Smart factories, the industrial metaverse, digital supply chains, and cybersecurity are all vital to this evolution and present potential investment opportunities.
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U.S. policies continue to drive an industrial spending boom
A wave of U.S. policies is one of the main driving forces behind the industrial and manufacturing spending boom:
- Infrastructure Investment and Jobs Act (IIJA): This 2021 act committed $550 billion toward infrastructure.2
- Inflation Reduction Act (IRA): The IRA created or improved over 20 tax incentives for clean energy and manufacturing,3 resulting in more than $110 billion in clean energy manufacturing investments in a year.4
- CHIPS and Science Act: This 2022 act invested over $230 billion in the semiconductor industry and allocated money for scientific advancements in everything from quantum computing to material science.5 Intel received up to $8.5 billion in direct funding alone and qualified for up to $11 billion in federal loans6 – and many other companies are eligible for federal funding and loans.
Due to increased funding, industrial spending is high,7 with many companies investing in technology and digital transformation to boost productivity and gain a competitive edge.8
Smart factories are here and driving investor interest
Not only do smart factories and the industrial metaverse represent a shift in how manufacturing operates, but they also present investors with the opportunity to back cutting-edge companies poised for growth.
Smart factories
Smart factories are cyber-physical systems that rely on technologies like Internet of Things (IoT), artificial intelligence, cloud computing, sensors, and big data analytics to analyze data, perform processes automatically, and learn on the job.9 Once set up, smart factories can collect and share data, connecting the digital and physical worlds, leading to lower costs, less waste, shorter downtimes, and better decisions.10
Given their benefits, it’s unsurprising that 97% of the 1,350 manufacturers surveyed by Sapio Research and Rockwell Automation in 2023 planned to adopt smart manufacturing technologies within two years11 and 97% of industrial manufacturing CEOs in EY Pulse’s 2023 survey intended to continue digital transformation.12
The smart manufacturing market was valued at 297.20 billion in 2023 and is expected to grow at a CAGR of 14.9% from 2023 to 2030, reaching $787.54 billion in 2030.13 However, some U.S. companies are already ahead of the curve, including:
- Honeywell International (HON): Honeywell’s Manufacturing Excellence Platform offers real-time, end-to-end production visibility and digitizes processes,14 while its Connected Plant platform provides sensors, communication protocols, and data analysis software.15
- Rockwell Automation (ROK): Rockwell Automation has developed the Connected Enterprise®,16 the Human Machine Interface,17 and several FactoryTalk® software programs.
- Cognex Corporation (CGNX): Cognex’s machine vision systems, software, and sensors help companies automatically inspect and identify parts, verify product assembly, and control assembly robots.18
Industrial metaverse
The industrial metaverse takes digitalization further, offering an immersive, 3-D virtual or virtual-physical environment.19 It relies on digital twins and digital 3D modeling technologies to create a virtual replica of physical manufacturing environments,20 allowing for easier remote collaboration, higher productivity, immersive training, and increased maintenance efficiency.21
With 92% of surveyed executives planning on experimenting with or implementing metaverse use cases and most already running over six metaverse-related technologies,22 industrial metaverse adoption is well underway. Many Deloitte survey respondents reported already making significant metaverse investments, and almost 75% planned to increase their investments by 2026, with nearly 40% planning to significantly increase their reliance on metaverse technologies for production, customer interaction, supply chain, and talent.23
Some top companies currently innovating or investing in the industrial metaverse include:
- Microsoft (MSFT): Microsoft is developing metaverse-enabling technologies, including 5G, edge computing, artificial intelligence, 24 and AR/VR.25
- Meta (META): Meta has a strong portfolio of AR, VR, and AI solutions and continually invests in creating a more connected world.26
- Google (GOOG): The Google Cloud could be a strong foundation for the industrial metaverse. Google has also collaborated with companies dedicated to developing technology that powers AR, VR, and extended reality devices like Visby.27 Additionally, Google is a leader in AI and ML,28 which can help develop algorithms to power the industrial metaverse.
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Investment pathways related to industrial supply chain digitization
Companies are turning to supply chain digitization to mitigate everything from disruptions to rising costs. IoT, AI, blockchain, robotics, and data analytics create connected supply chains,29 offering enhanced real-time visibility, cost-effectiveness, agility, and resilience.30
Supply chain digitization’s many benefits are driving market growth from $3.918 billion in 2020 to $13.679 billion by 2030,31 offering investors potential returns. Key U.S.-based companies in this space include:
- MasterControl: MasterControl offers quality management and manufacturing execution software to modernize industrial supply chains.32
- Johnson & Johnson (JNJ): Johnson & Johnson’s supply chain has become increasingly digital, particularly since the arrival of COVID-19. They use GPS-powered track-and-trace sensors, smart glasses with remote access capabilities, and more to achieve better visibility and agility.33
- IBM (IBM): IBM offers the IBM Sterling Supply Chain Intelligence Suite, an AI-based optimization and automation solution that can help organizations transform their supply chain.34
Cybersecurity and potential investment opportunities
Digitizing factories and supply chains puts more information at risk than ever, making protecting data, networks, and devices via cybersecurity35 increasingly vital. After all, almost a quarter of detected cyberattacks in 2022 targeted manufacturing firms.36
North America’s cybersecurity market, valued at $67.77 billion in 2022, is expected to grow at a 13.8% CAGR from 2023 to 2030,37 driven by industrial digitization. The global market is projected to reach $424.97 billion by 2030.38
Key companies in this space include:
- Cisco Systems, Inc. (CSCO): Not only does Cisco deliver security suites via the Cisco Security Cloud,39 but it also offers a security service edge solution.40
- Palo Alto Networks (PANW): Palo Alto Networks’ range of advanced cybersecurity solutions make it a global cybersecurity leader suitable for protecting manufacturers and their smart factories, metaverses, and supply chains.
- CrowdStrike (CRWD): Texas-based CrowdStrike offers Falcon XDR, an AI-native cybersecurity platform capable of stopping breaches, avoiding disruptions, consolidating security, and more, making it an appealing option for those in the industrial sector.41
Industrial sectors’ digital transformations usher in a new era of innovation and potential investment opportunities
Thanks to U.S. policies and the many benefits of today’s technologies, digital transformation in the industrial sectors is taking off. Smart factories, the industrial metaverse, and digitized supply chains are gaining popularity, underscoring the importance of robust cybersecurity and creating new potential investment opportunities.
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References to companies are for illustrative purposes only and should not be viewed as investment recommendations.
Risk Warning:
Investment involves risk including the loss of capital.
The information has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. This analysis and conclusions are the expression of an opinion, based on available data at a specific date. Due to the subjective aspect of these analyses, the effective evolution of the economic variables and values of the financial markets could be significantly different for the projections, forecast, anticipations and hypothesis which are communicated in this material.
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