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Which developments are driving the evolution of industries like Manufacturing 5.0?
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Which new service models can original equipment manufacturers benefit from?
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Improved safety requirements across industries will drive the non-destructive testing (NDT) equipment space, inflating the demand for integrated software, according to Frost & Sullivan’s recent analysis of the global NDT software sector. As NDT software sales are predominantly tied to testing and inspection requirements across sectors, the shift toward electric vehicles (EVs) and renewable energy will augment growth prospects. The NDT testing software sector is expected to reach $853.7 million by 2026 from $503.8 million in 2021, registering expansion at a compound annual growth rate (CAGR) of 11.1%.
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Many consumer packaged goods (CPG) manufacturers are affected by supply chain shortages and are taking steps to avoid shortages or overproducing items, not in demand. In October 2022, PepsiCo said it plans to automate and digitize more of its supply chain data to ease ingredient shortages and boost efficiency. PepsiCo CEO Ramon Laguarta and Chief Financial Officer Hugh Johnston said the company is focused on “automating and digitizing our supply chain to support our innovation pipeline with greater agility and speed-to-market”.
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Frost & Sullivan recently assessed the equipment-as-a-service (EaaS) sector and, based on its findings, recognizes relayr with the 2023 Global Company of the Year Award. The company offers a holistic approach to EaaS – pay-per-demand, guaranteed performance as a one-stop-shop.
Frost & Sullivan recently analysed the fashion, retail, and consumer goods product lifecycle management (PLM) industry and, based on its findings, recognizes Centric Software with the 2023 Global Customer Value Leadership Award. Centric Software is a fast-moving company in the PLM sector for the fashion, retail, and consumer goods sectors. The company delivers a Product Concept to Launch Platform that includes leading-edge PLM, Planning and Pricing solutions with an extensive portfolio of tools that enables seamless data analytics to streamline product management.
Recently, Frost & Sullivan examined the industrial analytics solutions sector and, based on its analysis results, recognizes TrendMiner, a Software AG company, with the 2023 Global Product Leadership Award. This award recognizes TrendMiner’s dedication to creating a user-friendly solution that enables operational experts to make data-driven decisions and optimize performance in pursuit of business, environmental, and safety ambitions. Frost & Sullivan applies a rigorous analytical process to evaluate multiple nominees for each award category before determining the final award recipient. The process involves a detailed evaluation of best practices criteria across two dimensions for each nominated company. TrendMiner excels in many of the criteria in the industrial analytics solutions space.
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