Mentions of digitalization in the filings of companies in the automotive field have been 21% greater in the next quarter of 2021 than in Q2 of 2020.
In whole, the frequency of sentences similar to digitalization amongst July 2020 and June 2021 was 108% higher than in 2016 when GlobalData, from whom our details for this report is taken, 1st commenced to monitor the vital issues referred to in company filings.
When businesses in the automotive industry publish once-a-year and quarterly stories, ESG reports and other filings, GlobalData analyses the textual content and identifies particular person sentences that relate to disruptive forces experiencing businesses in the coming many years. Digitalization is a single of these subjects – organizations that excel and invest in these locations are believed to be better well prepared for the potential organization landscape and greater geared up to endure unforeseen challenges.
To evaluate no matter if digitalization is that includes far more in the summaries and approaches of companies in the automotive industry, two actions were calculated. First of all, we seemed at the share of corporations which have mentioned digitalization at least when in filings during the past twelve months – this was 88% when compared to 46% in 2016. Secondly, we calculated the share of full analysed sentences that referred to digitalization.
Of the 50 biggest companies in the automotive industry, Bridgestone Corp was the organization which referred to digitalization the most concerning July 2020 and June 2021. GlobalData recognized 70 digitalization-similar sentences in the Japan-based firm’s filings – 1.1% of all sentences. Faurecia SA stated digitalization the 2nd most – the difficulty was referred to in .9% of sentences in the firm’s filings. Other prime companies with substantial digitalization mentions incorporated Daimler AG, Pirelli & C. SpA and Schaeffler AG.
Across all companies in the automotive market the submitting released in the second quarter of 2021 which exhibited the best emphasis on digitalization came from Bridgestone Corp. Of the document’s 1,154 sentences, 16 (1.4%) referred to digitalization.
This investigation presents an approximate indication of which providers are focusing on digitalization and how crucial the situation is viewed as within just the automotive business, but it also has limits and must be interpreted cautiously. For instance, a organization mentioning digitalization far more on a regular basis is not always proof that they are utilising new procedures or prioritising the difficulty, nor does it reveal whether the firm’s ventures into digitalization have been successes or failures.
In the previous quarter, businesses in the automotive business based mostly in Western Europe were being most probably to point out digitalization with .38% of sentences in firm filings referring to the concern. In distinction, organizations with their headquarters in the United States talked about digitalization in just .12% of sentences.
