One of Michigans largest technology and manufacturing business associations foresees a growth in the tech industry in Oakland County.

The 2017 Technology Industry Report, completed by Troy-based Automation Alley, is a nationwide survey of nearly 400 senior technology and manufacturing executives to determine their knowledge of Industry 4.0, and whether they are ready for the digitization of manufacturing within their company.

Industry 4.0, also known as the fourth industrial revolution, refers to the convergence of digital and physical technologies currently disrupting the manufacturing industry,

We believe that there is a huge opportunity for the technology industry to grow, both in Oakland County and across Southeast Michigan, said Automation Alley Executive Director Tom Kelly.

Advertisement

(This can be done) by providing their products and services to the manufacturing industry, because the manufacturing industry is planning to spend a lot of money on new technological advancements.

According to the 2017 report, the top three technologies in which companies currently invest are the cloud, cybersecurity and big data/analytics.

Kelly said when it comes to Southeast Michigan and Oakland County, the majority of tech businesses plan to invest in one particular area.

Regionally, we found that manufacturers plan to invest in autonomous robots, said Kelly.

RELATED: Uber opening driverless vehicle research and tech center in Wixom

RELATED: County Executive L. Brooks Patterson says county premier location for advanced vehicle technology

The report highlights where communication gaps exist between technology and manufacturing executives, the lack of company resources dedicated to technological advancements and how Southeast Michigan is ahead of the curve when it comes to the development and adoption of Industry 4.0 technologies.

Kelly said, based on the report, that national manufacturers are not prepared for Industry 4.0,

They see the benefits of technological advancement, but they face many obstacles to adopting new technology, said Kelly. What did surprise us about the report was that the local manufacturing industry is more prepared for Industry 4.0 than their national counterparts.

Locally, within Southeast Michigan and Oakland County, the Industrial Internet of Things and simulation (42 percent of those surveyed), followed by autonomous robots, horizontal and vertical system integration, and the cloud (all at 33 percent of those surveyed) are a top priority for Automation Alley manufacturers

85 percent expect an increase in their companys budget for technological advancement in 2017 (nearly a third of them plan to increase their budgets by 10 percent to 15 percent)

88 percent believe technological advancements can be beneficial to their companys competitiveness

62 percent believe that technologies in the cloud will improve their companys competitiveness in 2017

54 percent said the biggest barrier in making technological advancement in their company is cost

76.7 percent said Industry 4.0 is currently not an initiative within their company

65 percent said Industry 4.0 will have very much, quite a bit or some impact on their company in 2017

Automation Alley publishes the Technology Industry Report to provide the technology business community with valuable insights into the future of the tech industry, both locally and nationally.

The organization helps to connect businesses with talent, resources and funding to accelerate innovation and fuel Southeast Michigans economy.

The non-profit includes nearly 1,000 tech-focused members in businesses in Southeast Michigan.

Read the original here:

Huge growth opportunity for tech industry in Oakland County, says ... - The Oakland Press