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Industry 4

Industry 4.0 refers to the current fourth wave of technological advancement in manufacturing industries that is powered by nine foundational digital technologies. These technologies allow for sensors, machines, workpieces and IT systems along the entire value chain to be connected beyond single enterprises using standard internet protocols. This connectivity enables faster and more flexible processes that analyze data across machines to produce higher quality goods at reduced costs. Industry 4.0 has the potential to significantly increase manufacturing productivity, shift economics, foster industrial growth and modify the workforce, ultimately changing the competitiveness of companies and regions.

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Javier Sang
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37 views2 pages

Industry 4

Industry 4.0 refers to the current fourth wave of technological advancement in manufacturing industries that is powered by nine foundational digital technologies. These technologies allow for sensors, machines, workpieces and IT systems along the entire value chain to be connected beyond single enterprises using standard internet protocols. This connectivity enables faster and more flexible processes that analyze data across machines to produce higher quality goods at reduced costs. Industry 4.0 has the potential to significantly increase manufacturing productivity, shift economics, foster industrial growth and modify the workforce, ultimately changing the competitiveness of companies and regions.

Uploaded by

Javier Sang
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Industry 4.

0: The Future of Productivity


and Growth in Manufacturing Industries

Technological advances have driven dramatic increases in industrial productivity since


the dawn of the Industrial Revolution. The steam engine powered factories in the
nineteenth century, electrification led to mass production in the early part of the
twentieth century, and industry became automated in the 1970s. In the decades that
followed, however, industrial technological advancements were only incremental,
especially compared with the breakthroughs that transformed IT, mobile
communications, and e-commerce.

Now, though, we are in the midst of a fourth wave of technological advancement: the
rise of new digital industrial technology known as Industry 4.0, a transformation that is
powered by nine foundational technology advances. (See Exhibit 1.) In this
transformation, sensors, machines, workpieces, and IT systems will be connected along
the value chain beyond a single enterprise. These connected systems (also referred to as
cyberphysical systems) can interact with one another using standard Internet-based
protocols and analyze data to predict failure, configure themselves, and adapt to
changes. Industry 4.0 will make it possible to gather and analyze data across machines,
enabling faster, more flexible, and more efficient processes to produce higher-quality
goods at reduced costs. This in turn will increase manufacturing productivity, shift
economics, foster industrial growth, and modify the profile of the workforce—
ultimately changing the competitiveness of companies and regions.
This report describes the nine technology trends that are the building blocks of Industry
4.0 and explores their potential technical and economic benefits for manufacturers and
production equipment suppliers. To demonstrate our findings, we use case studies from
Germany, which is recognized as a world leader in industrial automation.

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