What are the business and security impacts of Industry 4.0?
Ben Rossi for Information Age: Industry 4.0 will make manufacturing more efficient and productive. By optimising factories, it will directly improve yield. On the product side, it will also extract greater value from data for usage-based design and mass customisation, which in turn will open the way to new markets. On many levels, it will completely change the business model to an outcome-based approach.
Accenture estimates that automation, connectivity and embedded software can increase production line productivity by up to 30%. The shift from selling products to selling measurable outcomes will redefine whole industry structures. This is the shift to servitisation, whereby companies are using the Internet of Things (IoT) to find new ways to grow revenue and increase profits.
Industrial equipment manufacturers sell outcomes, like machine hours or price-per-user, rather than just products. For the customer it means less disruption, increased uptime, incremented factory yield and ultimately higher satisfaction. Cont'd...
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