Digital shift
A key strategic priority for Sandvik is to expand the digital offering and we strive to become leading in the industries we serve. In recent years, we have accelerated our digital focus, acquired assets that fit with our core offering, and built a solid platform for growth. Our target for 2025 is to reach SEK 6.5 billion in digital offering revenues. At year-end 2024, with revenues totaling SEK 5.1 billion (4.9), we are well on track to deliver on the target.
Our strategy is to combine hardware and software to create optimized solutions for the manufacturing, mining and infrastructure industries. Our equipment and tools are increasingly becoming intelligent and automated, gathering data and enabling predictive maintenance, resulting in improved productivity and sustainability for our customers.
Sandvik Mining and Rock Solutions is creating value through leading autonomous solutions and a digital platform that supports customers across the value chain. During the year, we saw solid growth in the Digital Mining Technologies division. We also introduced a number of innovations connected to our automation platform AutoMine®. We took one step closer to an OEM (Original Equipment Manufacturer) agnostic approach for mine automation through the acquisition of Universal Field Robots.
Sandvik Rock Processing Solutions has set a target to have 60 percent of customers utilizing its automated and digital solutions by 2025, and by the end of 2024 we had already reached this target.
The digital shift opens opportunities for new business models. During the year, Sandvik Rock Processing Solutions started offering remote monitoring as a service, enabling customers to access predictive insights, technical support and optimization. This improves uptime as well as increases productivity.
Sandvik Manufacturing Solutions launched an industry-first Manufacturing Copilot, based on generative artificial intelligence specifically developed for computer aided manufacturing (CAM), in alliance with Microsoft. This will significantly improve the user experience, making programming of machining processes easier and more productive.
Internally, we drive digitalization to enable efficient, intelligent, data-driven end-to-end processes, including interactions with customers and suppliers. During the year, we started a number of AI initiatives to optimize and automate steps in our supply chain and customer experience. We have deployed Enterprise Resource Planning (ERP) systems at critical sites and improved our analytics capabilities and data accessibility for more data-driven supply chain optimization.
