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Taiwanese Manufacturing Industry's Spending on Smart Factory Expected to See Nearly 10% Year-on-Year Growth in 2022: MIC
July 08, 2022

Taiwan's IT research institute MIC (Market Intelligence & Consulting Institute) conducted surveys in late 2021 with an aim to present estimates of IT spending in five major industries in Taiwan, including manufacturing, construction, finance, retail, and healthcare. The findings are based on data from MIC's IT Spending Survey conducted in late 2021. Hundreds of IT companies in Taiwan were asked a series of questions about their spending patterns, habits, and plans. 

The average spending on smart factory in Taiwan’s manufacturing industry reached NT$1.669 million in 2021, with 14.5% of companies reporting a plan to increase their spending in 2022 and 2.5% to decrease. Based on MIC's findings, the average spending on smart factory is estimated to grow by 9.5% year-on-year to NT$1.827 million in 2022. Although average smart factory spending seemed higher in both the metal & machinery sub-industry and the livelihood sub-industry at above NT$2 million in 2021, the spending is estimated to grow by less than 10% in 2022. On the contrary, average spending in the information & electronic sub-industry will see more than 20% of growth in 2022 despite having a growth rate lower than the metal & machinery sub-industry and the livelihood sub-industry in 2021.

Average Spending on Smart Factory in the Taiwanese Manufacturing Industry by Sub-Industry

Note: US$1=NT$29.6
Source: MIC, July 2022

Huge adoption costs are the crucial factor for companies in determining whether they will implement smart factory as 60% of them in the survey reported such problem. More than 40% of companies reported having difficulty in recruiting and training talent. In addition, more than 50% of companies said having difficulty integrating new smart factory solutions with existing hardware and software.

Established in 1987, MIC (Market Intelligence & Consulting Institute) is a division of III (Institute for Information Industry), a major government think tank, and one of leading IT research institutes in Taiwan.

To know more about this topic, please visit:  Taiwan Manufacturing Industry: Spending on Smart Factory in 2022Taiwan Manufacturing Industry: Cloud Adoption Intention Survey in 2022Taiwan Manufacturing Industry: Corporate IT Spending in 2022Taiwan Manufacturing Industry: Enterprise Software Solution Spending in 2022


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