Digitization mentions in auto industry company records were 21% higher in the second quarter of 2021 than in the second quarter of 2020.
In total, the frequency of digitization-related convictions between July 2020 and June 2021 was 108% higher than in 2016 when GlobalData, from which our data was drawn for this article, began tracking the main issues raised in the cases. enterprises.
When companies in the automotive industry release annual and quarterly reports, ESG reports, and other documents, GlobalData analyzes the text and identifies individual sentences that relate to the disruptive forces companies will face in the years to come. Digitization is one such topic – companies that excel and invest in these areas are said to be better prepared for the future business landscape and better equipped to overcome unforeseen challenges.
To assess whether digitization is more present in the summaries and strategies of companies in the automotive industry, two measures were calculated. First, we looked at the percentage of companies that mentioned digitization at least once in their returns in the past twelve months – it was 88% compared to 46% in 2016. Second, we calculated the percentage of total of the analyzed sentences referring to the digitization.
Among the 50 largest employers in the automotive industry, Bridgestone Corp was the company that made the most reference to digitization between July 2020 and June 2021. GlobalData identified 70 sentences related to digitization in company records based in Japan – 1.1% of all sentences. Faurecia SA mentioned digitization in second place – the issue was raised in 0.9% of sentences in company files. Daimler AG, Pirelli & C. SpA and Schaeffler AG are other top employers with high mentions in digitization.
Across all companies in the auto industry, the dossier released in Q2 2021 that put the most emphasis on digitization came from Bridgestone Corp. Of the 1,154 sentences in the document, 16 (1.4%) referred to digitization.
This analysis provides a rough indication of which companies are focused on digitization and the importance of the issue being addressed in the automotive industry, but it also has limitations and should be interpreted with caution. For example, a company that mentions digitization more regularly is not necessarily evidence that it is using new techniques or prioritizing the problem, nor does it indicate whether the companies in the company in the area of digitization have been successes or failures.
In the last quarter, auto industry companies based in Western Europe were the most likely to mention digitization with 0.38% of sentences in company files referring to the question. In contrast, companies headquartered in the United States mentioned digitization only 0.12% of sentences.