New Study Reveals $11.28 Million Annual Opportunity for Industrial Companies to Boost Competitiveness by Modernizing Closed Automation Systems
TechTarget, Inc. (TTGT)
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Source: Business Wire
Hidden cost penalties: closed industrial systems cost mid-sized industrial companies 7.5 per cent of revenue through downtime, inefficiencies, and compliance retrofits every yearRigid infrastructure slows response: 77 per cent of systems need physical updates; fragmented platforms increase complexity and delay actionOpen, software-defined automation offers a way forward: by decoupling software from hardware, it enables faster decisions, real-time insights, and competitive resilience MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, a global energy technology leader, today unveiled new global research titled “Open vs. Closed: The $11.28 million Question for Industrial Leaders.” The report reveals that closed industrial automation systems are quietly eroding competitiveness, costing mid-sized organizations an average of 7.5 per cent of their revenue.The research, conducted by Global Analysts firm Omdia, highlights how these costs stem from operational inefficiencies, downtim
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