Sixty four percent of the 386 senior executives participating in KPMG's 2015 Global Manufacturing Outlook (GMO) survey say sales growth is one of their top strategic priorities in the short-term.

Many also see innovation as a critical path to growth. Indeed, the KPMG GMO survey shows that manufacturers know that investing into breakthrough technologies is a "must do" long-term strategy with more than two-thirds of respondents confirming they are focused on long-term innovation strategies.

Forty-four percent of KPMG GMO survey respondents say they will allocate more than 20 percent of their total technology spend on systems to improve the pace and value of innovation (engineering, manufacturing and supply chain) in the next year. Furthermore, 32 percent cite the development of new products and R&D as a top strategic priority.

"Innovation waits for no one. Those who fail to embrace the new reality of the accelerating innovation cycle will quickly be left behind," says Jeff Dobbs, KPMG's Global Head of Industrial Manufacturing.

"Investing more in R&D is certainly helpful, but manufacturers need to also focus on continuously enhancing and adapting their innovation models if they hope to survive."

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