Industry 4.0

• A Mckinsey Report reveals that companies expect Industry 4.0 to increase revenues by 23% and productivity by 26% and many are preparing for changes to their business model.
• In the German manufacturing sector, industry 4.0 will drive productivity by 5-8% in the next 10 years, creating 390,000 new jobs and increasing investments by US$269bn.
• Industry 4.0 has a value creation potential for manufacturers and suppliers of $3.7 trillion in 2025, but today only 30% of global companies are capturing value from Industry 4.0 solutions on a large scale.
• The impact of Industry 4.0 could see productivity gains between US$216 billion to US$627 billion.
• Making the most of the benefits of Industry 4.0 will demand significant cooperation throughout global business boundaries.
• Companies who are actively implementing measures to implement Industry 4.0 solutions expected more than 18% higher productivity over the next five years.
• Industry 4.0 creates new risks and requires companies to integrate security and privacy safeguards into their businesses.
• Within the next five years, advanced implementation of Industry 4.0 will become a qualifier to compete and is also likely to be seen by investors as a qualifier for funding.
• Industrial products companies in all regions are pressing hard on the Industry 4.0 accelerator and expect to secure significant benefits.
• Just 8% of UK manufacturers have a significant understanding of Industry 4.0 processes despite 59% recognising that the fourth industrial revolution will have a big impact on the sector.
• A third of UK manufacturers are at risk of falling behind global competition because they have not invested in Industry 4.0 technology or processes in the past two years.
• The Industrial Internet or Industry 4.0 will make a considerable contribution to growth in Europe in the next years.
• While today only one fifth of the industrial companies have digitized their key processes along the value chain; in five years' time, 85% of companies will have implemented Industry 4.0 solutions in all important business divisions.
• Data analytics is the driver for Industry 4.0 Over 80% of companies expect data analytics will have a significant influence on their decision-making processes in five years' time.
• 70 percent expect new competitors from other industries to use Industry 4.0 to enter their markets.
• Industry 4.0 technology has a huge impact on the automation of machines and industrial equipment and will continue to influence industrial systems even stronger in the future.
• 35% of companies adopting Industry 4.0 expect revenue gains over 20% over the next five years.
• In 2018 the TIWG will focus on global value chains in the agricultural sector, the Fourth Industrial Revolution, and Industry 4.0.
• Smart Manufacturing is being predicted as the next Industrial Revolution or Industry 4.0.
• The global Industry 4.0 market is expected to witness high growth during the forecast period.
• Global manufacturing value added per capita could increase from around $1,800 currently to more than $2,700 in 2030, with 22% of the growth attributable to Industry 4.0 technologies.
• The Industry 4.0 Market is expected to exceed more than US$26.7 Billion by 2024 at a CAGR of 23.1% in the given forecast period.
• Another ingredient in Industry 4.0 is Artificial Intelligence, one of the fastest growing emerging technologies with a market expected to reach $70 billion by 2020.

Last updated: 04 October 2020