The future of manufacturing technologies in Industry 4.0
Industry 4.0, as the next industrial revolution, brings in a new wave of connected manufacturers and smart factories. The disruptive technological advancements, such as machine learning, blockchain, data intelligence, big data, Internet of Things (IoT), and analytics, are changing the way products and services are manufactured, designed, and marketed.
According to a recent report published by WEF in collaboration with McKinsey, the Fourth Industrial Revolution is expected to create up to USD $3.7 trillion in value by 2025. The global race for innovation leadership in Industry 4.0 is picking up pace. Two thirds of industrial companies worldwide say that digitising the production value chain is one of their highest priorities.