World Economic Forum – EDB Manufacturing Transformation Insights Joint Report offers new insights on the Industry 4.0 maturity of the manufacturing sectors globally

10 Feb 2022 3 min read

The Smart Industry Readiness Index (SIRI) is the first international programme to benchmark the current state of manufacturing globally
Data from nearly 600 manufacturing companies across 30 countries shows that semiconductors, electronics, and pharmaceutical sectors are frontrunners in digital transformation
Productivity and quality-linked performance indicators are key focus areas for both multinational corporations (MNCs) and small and medium-sized enterprises (SMEs) alike, but flexibility and speed are fast-emerging areas of priority
The International Centre for Industrial Transformation (INCIT) – an independent, non-governmental, not-for-profit organisation – has been established to work with both public and private sector partners to scale the SIRI programme internationally

The Singapore Economic Development Board (EDB) – in partnership with the World Economic Forum (“The Forum”) – launched the 2022 edition of the Manufacturing Transformation Insights Report today. The report offers new insights and findings emerging from the Global Smart Industry Readiness Index (SIRI) Initiative. The initiative aims to build the world’s largest data sets and benchmarks on the current state of manufacturing globally by accelerating the adoption of SIRI as the international standard for Industry 4.0 benchmarking and transformation.

The report is an outcome of an 18-month Forum-EDB partnership and draws on data from close to 600 manufacturing companies across 30 countries to outline the current state of industrial transformation across different sectors. It presents detailed case studies on how different stakeholders – ranging from manufacturers to industry associations and governments – are actively leveraging the SIRI programme to accelerate their digital transformation journeys. Key findings of the report are summarized in Annex A of this press release.

“The Global SIRI Initiative is one of our fastest growing initiatives, having scaled internationally to more than 30 countries over the last 18 months. Through this report, we hope to revolutionise the way by which the global manufacturing community approaches digital transformation; from one that is anecdote-based to one that relies on a standardised methodology and is supported by quantitative insights.”

Jeremy Jurgens

Managing Director

World Economic Forum

“Our partnership with the Forum has established SIRI as an independent, international benchmark to accelerate the pace of transformation for the manufacturing sector around the world. The insights and real-life case studies presented in this report will provide public and private sector stakeholders with the ability to develop tailored interventions and uncover new opportunities that digital transformation can offer.”

Dr. Beh Swan Gin

Chairman

EDB

To support the international scale-up of SIRI, a new non-governmental, not-for-profit organisation – International Centre for Industrial Transformation (INCIT) – has also been established since May 2021. As a neutral, independent entity, INCIT will work with both public and private sector manufacturing-related organisations to catalyse and support industrial transformation across geographies and industries.

“We are confident that the findings from this 2nd edition of the Manufacturing Transformation Insights Report will modernise the way by which the global manufacturing community approaches digitalization. As we progress into the post-COVID new normal, we invite manufacturers – of all sizes and industries – to take decisive action by leveraging the SIRI Programme to set themselves on the right trajectory for transformation.”

Raimund Klein

Chief Executive Officer

INCIT

“Global Launch Event – Manufacturing Transformation Insights Report 2022” on 24 February 2022

As part of the launch of the report, the Forum and EDB will be co-organizing a webinar on 24 February 2022, 1100hrs CET / 1800hrs SGT. The webinar will include a presentation by the Forum on key findings from the report, as well as a panel discussion by key industry leaders. To sign-up for this webinar, please visit the event’s registration page at https://go.gov.sg/12rwxt.

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