Implementing Industry 4.0 & Building the Digital Factory
Manufacturers are now facing unprecedented challenges of complexity and growth while connected technology, often known as Industry 4.0 or Industrial IoT, brings the possibility of building the ‘Digital Factory’: an industrial facility where all products, personnel, raw materials, machines and processes are connected.
In this digital era, where managers are expected to use real-time data to continually optimize production operations and achieve higher levels of efficiency, factory executives are exposed to extraordinary levels of complexity and competitive pressures.
This unique industry survey, completed by 400 C-level executives, reveals how the manufacturing industry responds to these pressures, looking at the digital initiatives and business plans faced across a variety of verticals: from aerospace to automotive and from furniture to chemicals.
While it’s clear from the survey that optimism amongst manufacturers is high, with 93% reporting they expect double or single-digit growth over the next three years, this survey also reveals that manufacturers recognize the expected challenges they will face as a result of adopting IIoT technology.
The potential complexity of integration is one of the main hurdles C-level executives have indicated, while 45% percent of manufacturers reported putting an Industry 4.0/Digital Factory strategy in place to meet these expected challenges, as well as taking issues of quality and performance measurement very seriously.
About this Survey
Conducted jointly by SME.org, a Manufacturing Community that promotes advanced manufacturing technology, and Plataine, an Industrial IoT and AI software solution provider, in February 2018, this survey report is designed to enable manufacturing decision-makers to best prepare for and embark on their journey into digital manufacturing.