Industry trends

The world around us has changed rapidly over the past years. Most of Etteplan’s customers are industrial companies whose operations are affected by several global megatrends. For example, structural changes in the global
economy, urbanization, climate change and sustainability are all influencing companies, national economies and people’s lives. In addition to these megatrends, the engineering industry is influenced primarily by three trends: digitalization, accelerating technological development and the growing need for highly competent employees. In particular, the utilization of artificial intelligence in various applications is accelerating.

Recently the most visible changes in the operating environment were related to the geopolitical crisis caused by Russian aggression against Ukraine and the further elevation of geopolitical tensions due to the conflict in the Middle East. The energy crisis caused by the war and the subsequent elevation of geopolitical tensions have substantially increased global uncertainty. Inflation affects supply chains, as well as companies’ willingness to invest and demand in certain industries.

Consumer-driven industries, in particular, have suffered from rising costs and reduced demand. On the other hand, investments related to electrification, the defense industry, accelerating energy efficiency and the green transition are growing. At the same time, the shocks in the operating environment have created pressure to change in many industries. More and more of our customers want to respond better to increasingly strict regulations by developing their business and production toward greater sustainability. Many industries are also seeing a re-examination of supply chain strategies and efforts to shift the focus of production operations closer to the home market.

The trend of centralizing service purchasing continues as customer demand becomes increasingly international, presenting growth opportunities for global engineering companies. The continued trend of service outsourcing has a positive effect on the industry’s development and it supports Etteplan’s growth.

The digital transformation of industry and society as a whole is continuing and accelerating. For both companies and individuals, the digital era and the Internet of Things promise to deliver solutions that open up new opportunities, produce new knowledge and make geographical boundaries irrelevant. Intelligent and connected production processes increase efficiency and change the way industry operates, enabling new business models and redefining the value network. Our capabilities and intelligent technology enable us to optimize manufacturing processes and help our customers refine their practices and services, making them more efficient, resource-wise, and safe.

The need for engineering and design services is growing globally while digitalization and the general development of technology are changing more and more aspects of society. Creating new ideas and solutions requires a broad understanding between specialists in different fields. At Etteplan, we address the shortage of talent by offering competitive pay, training our personnel, and supporting internal career development through transfers between service areas, also internationally. We can also provide our customers with solutions to the shortage of talent, as we are capable of producing world-class technology services regardless of the customer’s geographical location. The competition for employees has eased slightly in the prevailing market situation, but there is continued competition for specialized experts in certain areas.

The principles of sustainable development guide our operations and the operations of our customers. A growing number of our customers are seeking to improve the sustainability of their products and production plants, which continuously presents us with new business opportunities. In their work, our experts at Etteplan make choices that help our customers achieve their business objectives and sustainability targets. Through our digital solutions we promote sustainable development goals and support material efficiency, energy efficiency, and electrification, to name a few.