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. See full forecast Last updated: 09 August 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
