Abstract

The fourth industrial revolution, which is also known as Industry 4.0 elucidates future industry improvement patterns to accomplish intelligent production processes, including dependence on CPS or Cyber Physical Systems, development of Cyber-Physical Production Systems (CPPS), and execution of smart factories. The purpose of Industry 4.0 is to manufacture an exceedingly adaptable generation model of customized and computerized items and administrations, with constant communications between individuals, products and devices amid the generation procedure. The “Industrial 4.0” idea was first seen in an article published by the German government as a high-tech policy plan for 2020, in November 2011. “Industry 4.0” rapidly ascended as the German national plan. Industry 4.0 will be a new industrial revolution, which will affect global industry. Although it is not a simple and straightforward aspect to accomplish Industry 4.0, and is presumably going to take at least a couple of years to figure it out. Right now, Industry 4.0 is an aspiration, since it incorporates various perspectives and challenges, including logical, infrastructural, financial, social and legal difficulties. This chapter presents challenges of Industry 4.0 related to the practical aspects, infrastructure requirements, cyber security and business models.

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