Abstract

Abstract Germany’s “Industry 4.0” strategy is a technological revolution that accelerates full penetration into industrial fields such as manufacturing, mainly based on the Internet of Things and the rapidly developing new generation of Internet technology as a carrier. This paper examines the implementation of Germany’s “Industry 4.0” strategy, focusing on R&D expenditures, capacity utilization rates, and CNC rates of key processes in the manufacturing industry. It also lays the groundwork for Germany’s economic development and the effects of industrial restructuring. We construct a regression model to analyze the impact of “Industry 4.0” on the German economy, using economic growth as a measure of economic development. We use the automobile industry as a representative to study the industrial restructuring and upgrading of Germany under the “Industry 4.0” strategy. The results demonstrate a positive correlation between the estimated coefficients of economic growth variables in each year from 2020 to 2022 and the industry’s value-added, passing the significance test at the 0.05 level. In the industrial restructuring, Germany’s automobile industry has realized the transformation from traditional manufacturing mode to intelligent manufacturing mode, and the 1387.2 billion euros of Volkswagen’s R&D investment also shows that Germany is still pursuing the technological upgrading of the industry.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.