Is Industry 4.0 just another buzz term that’s being hyped up by technology vendors with the aim of selling more products, or a legitimate trend that will transform sectors such as manufacturing in the months and years to come?
The evidence points to the latter. Industry 4.0, also referred to as the fourth industrial revolution, includes the heavy use of automation technologies and a greater exchange of data in manufacturing environments such as factories. Industry 4.0 got its name because it follows the earlier manufacturing phases of water/steam power, electric power and computing power.
The concept embraces technologies and delivery models such as cloud computing, big data/analytics, cyber-physical systems (CPS), robotics, augmented reality and the Internet of Things (IoT). In the age of Industry 4.0, manufacturing companies will be able to build and operate factories that are smarter than ever, so they can do things like easily customize products on demand from individual customers – something that is called Industrial IoT or IIoT.