Rockwell study finds cybersecurity as the top concern among automotive manufacturers

June 21, 2024 6:49 pm

The Global Survey reveals shifting priorities, increased technology investments, and workforce engagement challenges in the automotive industry.

Rockwell Automation presented the results of the 9th annual “State of Smart Manufacturing Report: Automotive Edition.” The study encompasses the responses of 182 leaders from automotive manufacturers, automotive supply manufacturers, and electric vehicle manufacturers across 15 of the leading manufacturing countries, including India.

The novel report emphasises the automotive industry evolution with a focus on harnessing emergent technology to reduce risk, generate growth, and maximise workforce potential. Automotive manufacturers are acutely aware of the 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

Cybersecurity risk emerged as the primary external challenge for automotive manufacturers in 2024. This was a significant jump from its ninth-place position in 2023. The adoption of smart manufacturing technology continues to rise, with 97% of manufacturers either using or considering its implementation, marking an increase from 85% the previous year. Technology investments increased 35% year-over-year, from 23% to 31% of the operating budget, in line with this trend.

Wearable technology is listed as one of the top ten investment areas for automotive manufacturers in 2024, ranking third overall. Employee engagement stands out as the foremost obstacle faced by manufacturers this year when it comes to workforce challenges. Additionally, reducing manufacturing waste is the factor that matters most to automotive manufacturers in adhering to ESG programmes.

Dilip Sawhney, Managing Director, Rockwell Automation India, said, “In the age of Industry 4.0, cybersecurity is emerging as a major concern for automotive manufacturers. This underscores the industry’s heightened recognition of digital threats and the urgent need for robust cybersecurity measures. As the Indian automotive sector shifts towards electric vehicles, manufacturers can adopt smart technologies to improve resilience, reduce waste, optimise production, and sustainably drive growth.”

Automotive manufacturers are prioritising strategies for workforce retention, upskilling, and engagement. Technologies such as smart manufacturing and automation complement and augment the value brought by employees for positive business outcomes.