Innovation Engine Report
Resilient Environment And Balanced Future Outlook
CURRENT ENVIRONMENT
Process / Hybrid Strength
Process and hybrid markets continue to exhibit resilient
demand - expecting double-digit sales growth in 2023
Discrete Softening
Moderation in discrete demand compared against two
strong years - expecting low-single-digit to mid-single-
digit sales growth in 2023
Supply Chain Improving
Supply chain continues to improve;
specifically, availability of components
Price-Cost Benefits
Carryover from strong pricing programs in 2022
and effective inflation management
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KEY GROWTH DRIVERS
Energy Transition Leadership
Leadership in energy transition markets to
drive resilient through-the-cycle growth
Nearshoring Opportunities
Poised to capture stimulus investments and nearshoring
spend in metals & mining, life sciences and battery value
chain
Software Growth
Double-digit ACV growth and further tailwinds from
AI and sustainability
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