Brief Excerpt from Industry Overview Chapter:
Companies in this industry manufacture a wide variety of goods; major product groups include food and beverages, chemicals, machinery, transportation equipment, and computers and electronics. Major companies include Boeing, Caterpillar, DowDuPont, Ford, GE, GM, HP, IBM, Pfizer, Procter & Gamble, and Tyson Foods (all based in the US); Nestlé (Switzerland), Sanofi (France), Siemens (Germany), and Toyota Motor (Japan).
Globalization has opened new markets and opportunities for manufacturers but has also created new challenges, including how to manage far-flung supply chains and distribution channels. Manufacturers have turned to digitalization to improve efficiency across every area of operations, including product development, design, production, distribution, and marketing. However, implementing a successful digital transformation strategy -- including the leveraging of internet of things (IoT) technology and big data -- requires careful planning and significant investment.
PRODUCTS, OPERATIONS & TECHNOLOGY
Transportation equipment (automobiles, planes, and railroad equipment) accounts for about 18% of US manufacturing revenues; food, beverages, and tobacco products, 17%; chemicals, for 13%; fabricated metal products, 6%; machinery, 6%; computers and electronics, 5%. Other major segments include primary metals, plastic and rubber products, and paper.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook