Industry 4.0 report - What are companies focusing on now?

Key Finding 4: Companies are re-focussing on innovation and digitalisation

After the difficult year 2020, the majority of the companies are starting to re-focus on innovation (66%) and nearly all companies (95%) place digital transformation high on their agenda. Both innovation and digital transformation are indispensable to remain competitive in a very challenging key market.

In general, we see that most companies are increasing their focus on innovation activities compared to last year, however 33% is not. Only 4% of the companies is planning to reduce their focus on innovation compared to 2020. This evolution can probably be explained by the fact that in 2020 a lot of companies already reduced their activities on innovation due to the pandemic, but they are now clearly looking forward to re-increase their innovation efforts.

Focus on innovation compared to last year


The same trend can be detected when talking about digital transformation. Almost 95.5% of the companies are aware of the potential of digital transformation and place it high on their agenda. Only 4.5% declare not to believe in the benefits of digital transformation. For 71% of the companies, it has a very high priority. 24% see the potential but are not yet placing it higher on their agenda.

Focus on digital transformation


Promising results

These findings are very promising for the economic development of our region. As many companies are heavily (80%) relying on exporting products, focus on innovation is the key driver to stay competitive in a very challenging global market. It will challenge the competition and it allows Flemish companies to realise their ambitious economic growth plans by delivering high-quality customised products and services.

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