Avery Dennison Corporation – Digital Transformation Strategies
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Avery Dennison Digital Transformation Strategies Report Overview
Avery Dennison has been focusing on AI-led innovation as a part of its digital transformation strategies. The annual ICT spending of Avery Dennison was estimated at $484.9 million in 2023. A major share of this spending is earmarked for acquiring software, hardware, and consulting from vendors. Avery Dennison is a provider of labeling and packaging materials and solutions It produces pressure-sensitive materials, tags, labels, tickets, fasteners, tickets, radio frequency identification (RFID) inlays, imprinting equipment, and related services.
Total ICT Spending 2023 | $484.9 million |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Cloud Computing, IoT, and Alternative Reality |
The Avery Dennison digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
Avery Dennison has adopted ML algorithms to prevent the breakdown of machines in its label materials factories. The algorithms continuously monitor the functioning of the machines and alert concerned staff when they detect signs of a forthcoming breakdown. This enables technicians to carry out preventive maintenance works and ensure the seamless functioning of machines. The ML technologies help Avery Dennison in lowering operational overhead, saving time, and maintaining productivity targets.
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Avery Dennison Technology Theme Focus
Avery Dennison is utilizing a number of emerging technologies including artificial intelligence, big data, cloud computing, IoT, and alternative reality to improve operational efficiency and enhance service capabilities.
Avery Dennison Technology Focus
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Avery Dennison Technology Initiatives
Avery Dennison has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, acquisitions, and technology investments over the past few years.
For instance, Avery Dennison launched atma.io, a cloud-based product platform for optimizing supply chain management. Atma.io allows businesses to assign unique digital IDs to products. The digital IDs can be integrated into different tags such as QR codes, RFID, etc. This makes the atma.io compatible with different types of tags. Through digital IDs, businesses can communicate the way their products are made and launch new business models such as direct-to-consumer, peer-to-peer commerce, etc. On the other hand, digital IDs allow customers to learn about a product’s authenticity, expiry date, area of origin, etc. by scanning the tags.
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Avery Dennison ICT Spend by Function
- Communications
- Datacenter
- Network
- Application
- End-user computing
- Service desk
- Management
Avery Dennison ICT Spend by Function, 2023 (%)
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Avery Dennison ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
Avery Dennison ICT Spend by Channel, 2023 (%)
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Avery Dennison External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
Avery Dennison External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into Avery Dennison’s technology activities.
- Insights into its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into Avery Dennison’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Avery Dennison in 2023?
The annual ICT spending of Avery Dennison was estimated at $484.9 million in 2023.
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Which is the largest external ICT spending category by function for Avery Dennison?
Network is the largest external ICT spending category by function for Avery Dennison in 2023.
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Which is the largest external ICT spending category by channel for Avery Dennison?
Internal development and maintenance is the largest external ICT spending category by channel for Avery Dennison in 2023.
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Which is the largest external ICT spending category by segment for Avery Dennison?
Software (including cloud SaaS) is the largest external ICT spending category by segment for Avery Dennison in 2023.
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What are the key technology themes in focus for Avery Dennison?
The key technological themes in focus for Avery Dennison are artificial intelligence, big data, cloud computing, IoT, and alternative reality.
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