Manufacturers around the globe are increasing their investments in business models that offer customer portals and rely on e-commerce for aftermarket activities, according to a recent study.

According to a report published February 20 by Valtech and Copperberg, entitled “The Voice of Digital Leaders in Manufacturing 2024,” the number of organizations around the world that rely on e-commerce for aftermarket services more than doubled from 7% in 2023 to 15% in 2024. Investments in customer portals have also increased, with 66% of responders saying they will invest in these services in 2024, up from 50% in 2023.

“Our research finds that the combined digital revenue from selling new products and equipment is 16%,” said Mascha Tamarinof, the global vertical lead of B2B at Valtech. “However, in the aftermarket, digital sales mount up to 26% of total sales. This motivates a shift in priorities, ushering in a new era for the industry where organizational change becomes a critical business focus for new business models and value-adding services to flourish.” 

Despite the growing opportunities created by aftermarket channels, 51% of respondents said that they are concerned that rising costs of operations will hinder their chance of achieving “digital success” in 2024.

A little under half of the respondents (49%) cited a reluctance to change or embrace digital tools as their top reason for slow or failing internal adoption. The second-most common reason was either a lack of department collaboration (46%) or a lack of digital ownership at local levels (46%).

“Like last year, the results this year reflect a common organizational culture struggle that can be addressed with change management, collaboration, and a more cohesive approach to digital ownership,” said Herbert Pesch, the managing director of Valtech. “Overcoming these challenges is essential for industrial manufacturers to unlock the full potential of digital commerce and customer portals in the aftermarket.”