About the Study:

Lifecycle Insights conducted the 2022 SMB Accelerated Engineering Study. Lifecycle Insights surveyed respondents to understand the attitude of executives in SMB to adopting digital transformation initiatives. Survey respondents originated mainly from North America and represented numerous industry verticals.

Study Demographics:

The findings of this study were based on respondents spread across the following industries:

Heavy Equipment (28.30%)
Automotive (11%)
Aerospace, Consumer Products, and Medical Devices (41%)
Industrial Machinery (34.80%)
Mold, Tool and Die (9.80%)
High Tech and Electronics (33.80%)
Others (17.20%)

Respondents’ company revenues varied widely, but most were between $100 to $300m (29.30%), between $50m to $100m (20.80%), between $300m to $500m (18.10%), between $5m to $50m (11.80%) or under $5m (12%).


Lifecycle Insights employed its proven benchmarking methodology in this quantitative research study. This methodology includes:

  • the development of a neutral-language survey instrument that captures an accurate, impartial state of the industry for the given program’s scope using Lifecycle Insights’ best practices and library of questions;
  • the careful recruitment and screening of qualified respondents that represent the target stakeholders for this program’s parameters using Lifecycle Insights’ third-party partnerships;
  • the review, cleansing, and validation of respondent’s answers using Lifecycle Insights’ internal flagging system;
  • the explorative development of indices and cohort definitions to iteratively isolate correlated sets of performance and practices using Lifecycle Insights’ benchmark approach; and
  • the calculation, analysis, and group review of the study’s findings to vet and distill takeaways using Lifecycle Insights’ processes and procedures.