Comparing the growth of Industry 3.0 vs 4.0, the Industry 4.0 reach is higher, its works with different new technologies, aspects, and leading the Manufacturing Industries to a new prospect of production. However, Industry 3.0 is also a stepping stone for this massive growth.
The recent year’s data shows the adopting rate of the Industry 4.0 is gradually increased. It depends on some factors, they are the adoption of digital technologies has increased due to the request for customized products, the need for smart data collection methods and man-machine connected service systems because smart production process with intelligent technologies, sensors, networks, will improve the production value chain and decrease the project time period.
Moreover, adopting a new business model, incorporating different technologies, and faster responding to the customers, altogether stand for the success of Industry 4.0. This transformation brings the benefits like improved productivity, improved flexibility, improved efficiency, optimize operating expenses and new revenue model and growth.
The Industry 4.0 transformation level differs from one country to another, even the term Industry 4.0 are not the same in all the countries.
Canada is a hub for smart manufacturing, as it adopts smart technologies like blockchain, 3D printing and more. Manufacturers in Canada are already adapting to satisfy the needs of Industry 4.0. More than 40% are started to adopt the IIoT in their Industries.
Adoption of digital advanced technologies like big data, IoT, 3D printing in their earlier stages is the reason for their massive growth for Industry 4.0. Improving the number of SMEs and the adoption of industrial digitization technologies by the Manufacturing Industries have added a greater value to the leading growth for the US.
Chinese economists consider, Industry 4.0 adoption is expected to boost productivity by up to 30% in China and unexpected production losses might reduce output by 60%.
India is already exploring and leveraging the Industry 4.0 technologies in the Industry sectors like big data, cloud computing, AR/VR, AI and more. Industry 4.0 also works with the Manufacturing Industries, refining, construction, and more. And similarly, the adoption rate and the growth of the Industry 4.0 is also increased in other countries like Japan, Germany. When the Industries and businesses are transforming according to the digital trends, the economic opportunities also change.
The new technologies that grow in this Industrial digitization are smarter than the previous revolutions. This revolution smartly connects man and machine. As the digitization landscape for the Manufacturing Industries existing to advance, there is a need for the Industry leaders, their workforce has to be educated to live in the competitive business market.
The advanced technologies, increasing digital technologies demand, are paving the way to new job opportunities. Today’s Industries need skilled people, who are well versed in the technologies like Cloud computing, Artificial intelligence, and more. These technologies are flexible and efficient. However, implementing the Industry 4.0 digital trends will bring a greater impact to the Industries.
Check your Industry 4.0 competency level with following free self-assessment tool:
So, to upskill yourself, or your workforce or to start a career in Industry 4.0, The Factory Science Diploma in Industrial Digitization Program helps for the successful transformation.
Lets us look forward to the adoption of Industry 4.0 and the business value it can bring in and we are planning to cover these topics in the upcoming blogs.
For regular updates:
Join us @ WhatsApp
Join us @ Quora
Join us @ LinkedIn
Join us @ Facebook
Please share this article to accelerate awareness about Industry 4.0.
[…] path that industries communicate about industrial manufacturing incorporation. Learn more on the Industry 4.0 megatrends. Moreover, the IIoT is moving the industries towards the smart connected […]