Digital transformation will ease management of key operations and enhance customer experience, says Frost & Sullivan
SANTA CLARA, Calif., Sept. 24, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Digital Transformation in the Global Adhesives and Sealants Industry, 2020, reports that the digitalization of domains such as sourcing, production, and retailing by adhesives and sealants manufacturers will give rise to new growth opportunities in the industry. While 90% of the sector is still in the early stages of digitalization, companies are expected to accelerate their digital transformations to counteract the business disruptions caused by the COVID-19 pandemic.
For further information on this analysis, please visit: http://frost.ly/4kg
"With the world increasingly moving towards a local-for-local production and supply model owing to change in the international trade relationships and the impact of the COVID-19 pandemic, manufacturers of adhesives and sealants stand to gain considerably through utilizing digital technologies to shorten and enhance the efficiency of sourcing and distribution," said Christeena Thomas, Senior Industry Analyst for Visionary Science at Frost & Sullivan. "While most companies are still exploring ways to digitalize their business processes, several leading suppliers have ventured into key technologies based on artificial intelligence (AI), IoT, and Big Data analytics. This will enable them to further enhance their operational capabilities during and post this pandemic."
Thomas added: "The post-pandemic world will drive the use of more digital marketing strategies by both large and small companies in the industry, with leading manufacturers expected to launch innovative solutions based on IoT, AI and Big Data analytics in the next two years.Adhesive and sealant companies are also slated to offer digital products such as online platforms or handheld devices. These will relay real-time performance metrics of adhesives and sealants applied to customers' assets."
For further revenue opportunities, companies in this sector should:
Digital Transformation in the Global Adhesives and Sealants Industry, 2020 is part of Frost & Sullivan's global Chemical, Materials, and Nutrition Growth Partnership Service program.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Digital Transformation in the Global Adhesives and Sealants Industry, 2020
Frost & Sullivan
M: (832) 481 4884, P: (210) 247 2481
View original content to download multimedia:http://www.prnewswire.com/news-releases/imminent-digitalization-of-global-adhesives-and-sealants-industry-to-unearth-new-growth-avenues-301137670.html
SOURCE Frost & Sullivan