There are several recent developments in technology and methods for the design, manufacture and operation of tooling for sheet metal forming. Technologies such as electric presses with accurately controlled motions and design tools such as forming simulations and AI technologies for knowledge capture and reuse are actively progressing. Manufacturing processes such as additive manufacturing and materials are advancing. There are advancements in the operation of the tooling via for example sensor technology. In this paper, a structured literature search is presented to understand the state of the art in sheet metal forming tooling. In addition, the paper presents an interview study with staff and management from five different industrial companies that are active in tooling design, manufacture, and operation. The objective is finding the current challenges for the companies and to what extent new technologies and methods are considered or being implemented to meet the current challenges. The interviews show that there are challenges concerning the lead time for tooling design and manufacture as well as the availability of the tooling in production. Although the companies have made recent investments, they are lacking the knowledge to fully exploit the potential of the new technologies. The paper strongly advocates for the utilization of technology to address the challenges within the tooling industry, aiming for enhanced efficiency and improved tooling design processes.