Global Tech Giants to Lead the Industry 4.0 Revolution
Added: (Fri May 31 2019)
The Industry 4.0 market race is led by the global tech giants that invest billions of dollars in Industry 4.0 products R&D, M&A, commercialization and internal use. Furthermore, these companies have acquired smaller technology companies, especially in the AI sector, to strengthen their industry 4.0 capabilities.
The new report is based on extensive research activities including:
- 31 Industry 4.0 round table focus groups with 87 leading industry executives from 17 countries
- 79 face-to-face interviews with industry 4.0 executives
- Meta-research based on.>4000 industry respondents in 27 countries and over 2000 companies
- Review of 477 reports and papers
- 49 Industry 4.0 vendors research
- Cross-check of 188 submarkets via 5 bottom-up research vectors.
With 640 pages, 120 tables and 150 figures, this 4-volume report covers 10 industries, 10 technologies, 4 revenue sources, 5 regional markets and 22 national markets, offering for each of the 188 submarkets a detailed 2016-2017 market size and 2018-2023 forecasts and analyses.
Industry 4.0 holds immense potential. Smart factories allow individual customer requirements to be met, meaning that even one-off items can be manufactured profitably. In Industry 4.0, dynamic business and engineering processes allow last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers.
End-to-end transparency is provided over the manufacturing process, facilitating optimized decision-making. Industry 4.0 will also result in new ways of creating value and novel business models. It will provide start-ups and SMEs with the opportunity to develop and provide downstream services.
The Industry 4.0 competition is not only about technology or offering the best products; it is also, and in particular, about the companies that collect the appropriate data, combine it to provide the best digital services, and utilize it for their own benefit. Those who know what the customer wants, and can forecast consumer demand, will provide the information to develop an ” unfair” competitive advantage.
The major winners might be those that control ” Industry 4.0 Platforms” , software layers that syndicate various devices, information and services, on top of which other firms can build their own offerings.
According to the report, the Industry 4.0 revolution will be driven by an ensemble of emerging technologies, such as Industrial Internet of Things (Industrial IoT), Big Data analytics, advanced industrial robots, Artificial Intelligence (AI) and predictive maintenance. In the next decades, businesses, led by the giant tech companies, will establish global networks that incorporate their machinery, warehousing systems, and production facilities in the shape of cyber-physical systems that can be managed in real time. These extremely flexible value networks will require new forms of collaboration between companies, both nationally and globally.
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