Stuart Morstead, Honeywell Connected Industrial, presents an overview of the main trends shaping the future of the industry, and outlines the need to connect processes, people and assets to meet new challenges.
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2020 Honeywell survey of 3000+ managers in multiple industries found that a majority of respondents said they were “worried they may be too late with their digital transformation efforts and will fall behind their competitors.”1 New challenges, including macro volatility, continue to drive the need to transform, and nowhere more so than industrials that have been historically sheltered with fewer
transactions and lower user experience expectations than consumer oriented sectors. There are wide-ranging emerging industrial trends and diverse stakeholder needs that have to be met, including sustainability, product mix and financial performance. These trends and stakeholder needs represent a significant challenge to both conservative and aggressive operators alike.
HYDROCARBON 61
ENGINEERING
October 2021
