Building a foundation with shopfloor visibility

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Building a foundation with shopfloor visibility

Building a foundation with shopfloor visibility

Industry 4.0, also referred to as the fourth industrial revolution is envisioned to bring transformation in manufacturing and supply chain through the integration of physical systems with digital systems across the value chain. The global market size for Industry 4.0 is projected to be USD 165 billion by 2026 (source: marketsandmarkets-Industry 4.0). To achieve Industry 4.0 goals, technologies like the Industrial Internet of Things (IIoT), data analytics, ML and AI, and cyber security, can be leveraged to enable value potential of up to 30% improvement in productivity and throughput, up to 20% quality improvement, and up to 50% downtime reduction (source: report by Mckinsey- Capturing the True Value of Industry 4.0).

Industry 4.0, also referred to as the fourth industrial revolution is envisioned to bring transformation in manufacturing and supply chain through the integration of physical systems with digital systems across the value chain. The global market size for Industry 4.0 is projected to be USD 165 billion by 2026 (source: marketsandmarkets-Industry 4.0). To achieve Industry 4.0 goals, technologies like the Industrial Internet of Things (IIoT), data analytics, ML and AI, and cyber security, can be leveraged to enable value potential of up to 30% improvement in productivity and throughput, up to 20% quality improvement, and up to 50% downtime reduction (source: report by Mckinsey- Capturing the True Value of Industry 4.0).

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