Industrial Revolution Edition 4
Updated: May 6, 2020
Benefits of Industry 4.0
Whether it’s Industry 4.0, Smart Industry or the Industrial Internet, there are ample benefits for manufacturers to transform the way they work.
The essential goal of Industry 4.0 is to make manufacturing – and related industries such as logistics – faster, more efficient and more customer-centric, while at the same time going beyond automation and optimization and detect new business opportunities and models.
Most of the benefits of Industry 4.0 are – obviously – similar to the benefits of the digital transformation of manufacturing, the usage of the IoT, operational and business process optimization, information-powered ecosystems of value, digital transformation overall, the Industrial Internet and many other topics on our website. However, let’s summarize a few of the key benefits of Industry 4.0.
Enhanced productivity through optimization and automation
Real-time data for a real-time supply chain in a real-time economy
Higher business continuity through advanced maintenance and monitoring possibilities
Better quality products: real-time monitoring, IoT-enabled quality improvement and cobots
Better working conditions and sustainability
Personalization and customization for the ‘new’ consumer
The development of innovative capabilities and new revenue models