Though written to advise the software houses, the manufacturing target for sellers, and the real activity ongoing in software updating in manufacturing provides very useful information for us too! We must keep up with software advances  as part of our digital transformation;  to keep up (or ahead of) our most significant competitors.

More than half (54%) of manufacturing businesses plan to spend 10% or more on software in 2024 compared to 2023.

Business intelligence and analytics software is a top priority for manufacturers.

Identifying the right technology (47%) and compatibility with their existing systems (44%) are the biggest challenges manufacturers face when planning investments in new software.

48% of manufacturers have buyer’s regret from a recent tech purchase—most commonly due to cost, implementation issues or insufficient functionality.

To prevent regret, manufacturers say they need to clarify goals, perform a security review and develop a supplier risk assessment.

Software Buying (Gartner, Dec 13th., 2023)