Strategic Focus: How COVID-19 Boosted Digital Strategies For Industrial Firms

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Executive Summary

This report examines how industrial firms have moulded their digital strategies around COVID-19 restriction challenges, using data from the 2020 editions of the Verdantix EHS and Operational Excellence surveys. Despite the issues firms have experienced owing to the COVID-19 pandemic, many businesses have chosen to accelerate their digitization initiatives.  Providers of digital technology including industrial software suppliers shifted their priorities to  help customers handle pandemic specific tasks, either through development of existing solutions or through standalone COVID-related releases. Technology for remote and safe operations received a large amount of investment during the pandemic. However, despite increased spend on digital strategies within firms striving for operational excellence, certain adoption trends will normalize as vaccination efforts reduce COVID-19 outbreaks, while others will maintain their momentum over 2021 and 2022. 

Table of contents

COVID-19 Stimulates Digital Strategies For Industrial Firms  
COVID-19 Accelerates Operational Excellence And EHS Digitization Initiatives 

COVID-19 Spurs Adoption Of Innovative Technology  
Vendors Readjust Their Offerings To Cover Pandemic Usage Scenarios 
COVID-19 Expedites Investment In New Technology For Remote Operations
Adoption Trajectory Of Newly Implemented Technology Will Vary By Use Case Over The Next Two Years 

Table of figures

Figure 1. Impact Of COVID-19 And Recession On Digitization Of Operational Excellence Initiatives
Figure 2. Impact Of COVID-19 On Digital Technology
Figure 3. Growth, Normalization And Decline Of Use Cases In The Next Two Years

About the authors

Hugo Fuller

Analyst

Hugo is a Technology Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on covering connected worker technologies, best practices, market trends and growth strategies. Hugo joined Verdantix in 2020 having worked previously in public relations and earned media at Cision. He holds a bachelor’s degree in English from University College London.

Malavika Tohani

Research Director

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on the digitization of Operational Excellence and covers operational risk technologies, best practices and growth strategies. Her recent research focussed on benchmarking the capabilities of the prominent operational risk software vendors. She has over 10 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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