The Advantages and Barries in Implementing of Industry 4.0 and Key Features of Industry 4.0

Abstract

Since the publication of the term "Industry 4.0" in 2011, the digital transformation required by Industry 4.0 has immediately attracted the attention of industrialists and governments around the world. Majority of the countries around the world are dealing with the difficulty of producing more goods from limited and consumed natural resources to meet the ever-increasing consumer demand worldwide with the first industrial revolution in the 18th century due to environmental and vital issues. Therefore, the sustainability impacts of Industry 4.0 and the way it contributes to sustainable economic, environmental and social development are getting more and more attention. Nowadays, Industry 4.0 is about digitalization in all industrial and consumer markets, from smart production systems to all distribution channels. Industry 4.0 digital transformation involves the digitization and integration of the entire value chain of the product life cycle. Industry 4.0 is a technological concept that contributes to the sustainability of businesses in today's conditions. Industry 4.0 changes the organization, business models, products, supply chain and strategies of companies. Industry 4.0 enables businesses to be more agile and flexible by integrating people, machines and data. Nowadays, countries such as Germany, the United States of America, India, China, Japan, the United Kingdom and Brazil have been developing policies for the implementation of Industry 4.0. However, the adequacy and implementation of Industry 4.0 technologies can be difficult for both industry representatives and countries. In this research, the advantages and barriers in implementing of Industry 4.0 were expressed. In addition, Industry 4.0 and its main features have been explained.