Importance of manufacturing in Europe and Asia
industry and the market in China-APAC, why tapping into the market is worthwhile and how to build the necessary digital infrastructure locally.
European as well as Nordic countries are also increasingly strengthen the country‘s using the technology. In 2019, the European manufacturing industry invested €17.8 billion in IoT technology. In fact, European industrial companies are devoting larger portions of their budgets to IoT year after year. 6 This is because the variety of solution applications increases with every innovation. For example, just under a quarter of the companies surveyed plan to use IoT to optimize their own supply chains in the next few years. 7 Among European countries, IoT is taking a particularly powerful role in the German industry: 98% of leaders in C-level positions rate the technology as the most important from the Industry 4.0 space, according to one study. 8 In the rest of the world, only 72% of CXOs see it similarly. Especially in Asian companies, the use of IoT and also cloud computing is low compared to North America and Europe. At the same time, there are more government initiatives in Asia that promote the use of innovative digital technologies. 9 The Chinese and Asia-Pacific markets in particular offer enormous sales potential that European companies can secure through the use of intelligent technology. For European companies, there is an opportunity in the Asia-Pacific (APAC) region that needs to be seized. In this e-book, you will learn what you need to know about the manufacturing
The manufacturing industry transforms raw materials into important resources for other sectors. Through the production of goods and products, it epitomises economic activity and is the foundation of productivity and stability for the global economy. It is no wonder that almost every tenth company in the European Union belongs to the manufacturing industry. 10 In the APAC region, especially in China, the manufacturing industry has played a key role for some time.
the United States. China‘s manufacturing industry is responsible for nearly 4 trillion USD of the country‘s total economic output in 2019. According to Xiao Yaqing, Minister of Industry and Information Technology, China offers the most comprehensive industrial system in the world, leading in 40% of the 500 most relevant industrial products. 12
Manufacturing industry in Europe and Asia
Made in China 2025
With more than two million companies and almost 30 million employees, the
The enormous capacity of the Chinese manufacturing industry clearly reflects China‘s importance in the global economy. The tradition- rich country, which just a few decades ago was heavily agricultural, has developed ever more rapidly from an emerging market to an industrial state. Within just forty years, China has managed to increase its own gross domestic product (GDP) by a factor of 225. 13 To further enhance the efficiency, structure and quality of China‘s manufacturing industry, the Chinese government unveiled the Made in China 2025 strategy paper in 2015. It is intended to upgrade and strengthen the country‘s own
manufacturing industry is a central building block of the EU economy. 10 The European manufacturing portfolio is highly diversified and enjoys a strong reputation globally. In 2019, the sales value of industrial products in the European Union amounted to €4,943 billion (in 2020, it was only €4,599 billion due to Covid-19). 10 Overall, 22 percent of industrial products worldwide came from Europe. 11 However, this is still nothing compared to the output of the Asian manufacturing. More than every second industrial product comes from Asia. Countries such as India, South Korea and Japan lead the way here. However, there is one country that is far ahead of all others in terms of manufacturing output: China. Since 2010, the China has occupied the top position in the global manufacturing industry. China accounts for 28.37% of global manufacturing output; +10% higher than the longtime leader,
6 -https://www.bain.com/insights/europeans-extend-their-lead-in-the-industrial-
internet-of-things/
7 - Logistics and Supply Chain Technology Report 2021
8 - https://www2.deloitte.com/de/de/pages/innovation/contents/industrie-40-
studie-bereit-fuer-den- wandel.html
9 - https://iot-analytics.com/industry-4-0-adoption-2020-who-is-ahead/
10 - https://ec.europa.eu/eurostat/statistics-explained/index.
php?title=Manufacturing_statistics_-_NACE_Rev._2
11 - https://howmuch.net/articles/map-worlds-manufacturing-output
12 - http://german.china.org.cn/txt/2021-09/14/content_77751721.htm
13- https://www.degruyter.com/document/doi/10.21078/JSSI-2020-487-17/html
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