Digital transformation spans industrial products, operations, value chains, and aftermarket services. It augments people and knowledge through expanded use of sensors, data, and analytics. ARC Advisory Group believes that most industrial process companies globally will undergo a digital transformation to some degree or other, with many already actively piloting advanced technologies.
Industrial organizations around the world are entering a period in which new digital technologies augment people and processes to an unprecedented degree. New, commoditized computing resources in the cloud (and at the edge) and artificial intelligence (AI) are changing how people work. Approaches such as the Industrial Internet of Things (IIoT) and Industrie 4.0 have helped pave the way for digital transformation across a broad swath of industrial sectors.