Industry 4.0 Will Have the Impact of
the First Industrial Revolution, Squared
I
f you're wondering how Industry 4.0
will impact your organisation and
other manufacturers across the globe,
you're not alone. This new operational
shift is changing things faster than most
people realise, and if some futurists
and experts are right, Industry 4.0 will
lead to a sort of brave new world in
manufacturing, unlike anything we've
ever seen before.
The first Industrial Revolution
remarkably changed the manufacturing
industry in the first half of the 19th
century. With steamships, railroads, and
the mechanisation of processes in the
agricultural and textile industries, the
first Industrial Revolution didn't just help
manufacturing businesses become more
efficient. It created a social, cultural, and
economic shift across the globe.
In the early 1900s, a second Industrial
Revolution was born as manufacturers
began using electricity to streamline
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production even further and mass
production pushed back the boundaries
of possibility. The start of the third
Industrial Revolution could be dated
back to the 1950s with the use of
semiconductors and mainframe
computing, but it really took hold in the
80s and 90s with the rise of the digital
age and the Internet. While the world is
still reeling from the digital revolution
today, Industry 4.0 has already begun. Smart data and the Internet of Things
have already changed manufacturing
processes in many organisations. Experts
predict that technology will disrupt the
industry in remarkable ways. “Industry
4.0 is set to redefine the manufacturing
industry, creating highly adaptable
workspaces which are able to respond to
customer requirements almost instantly”,
says Martin Thomas, European Marketing
Manager at Radwell International Ltd.
Industry 4.0 is a new era where
manufacturers use Big Data, the IoT and
interconnected computers to automate
processes while minimising the need for
human operators. Many smaller manufacturers are in
denial about the radical shift taking
place as a result of advances in
Industry 4.0 technology. If you work in
the manufacturing industry, you can’t
afford to make that mistake. Large
manufacturers are investing heavily in
new technology to carve out a stronger
competitive edge. Your company will lose
ground if you don’t adapt with smart
data and automated manufacturing
technology.
The global value of all Industry 4.0
components is expected to exceed £4
trillion by 2020. You should be aware of
the growing trend toward the utilisation
of Industry 4.0 technology if you work in
the manufacturing sector.