whitePaper | November 23, 2022
American manufacturing is a quintessential industry and represents 11.39 percent of the U.S. Gross Domestic Product (the overall output of the American economy), contributing significantly: every $1 spent in manufacturing adds $2.47 to the economy.1 The sector makes a disproportionate economic contribution, too, including 20 percent of the nation’s capital investment, 35 percent of productivity growth, 60 percent of exports, and 70 percent of business R&D spending.2 Since there are almost 300,000 factories in the United States, the economy benefits greatly from manufacturers. To ensure these companies remain competitive, adopting new technologies is imperative. To that end, companies must also determine what tools and software will be necessary to most effectively leverage these new technologies.
Read More