Research Article
Industry 4.0: Implications and Impact on the Manufacturing Sector
@INPROCEEDINGS{10.4108/eai.7-12-2021.2314481, author={Niresh J and Gowtham B and Neelakrishnan S}, title={Industry 4.0: Implications and Impact on the Manufacturing Sector}, proceedings={Proceedings of the First International Conference on Combinatorial and Optimization, ICCAP 2021, December 7-8 2021, Chennai, India}, publisher={EAI}, proceedings_a={ICCAP}, year={2021}, month={12}, keywords={industry 40 innovation; technological development}, doi={10.4108/eai.7-12-2021.2314481} }- Niresh J
Gowtham B
Neelakrishnan S
Year: 2021
Industry 4.0: Implications and Impact on the Manufacturing Sector
ICCAP
EAI
DOI: 10.4108/eai.7-12-2021.2314481
Abstract
As a result of continuous technological breakthroughs and manufacturing process improvements, the global industrial environment has altered drastically in recent years. Industry 4.0 is a relatively new concept, and academic study is just now beginning to focus on this still-controversial and ill-defined topic. This study includes a review of the literature in order to better understand and appreciate this issue in its technical context. Cyber-Physical Systems, strengthened by the Internet of Things, link the digital and physical worlds in this new industrial paradigm. This concept is predicted to have a big impact on industry, markets, and the economy, improving production processes and increasing efficiency, impacting the whole product lifecycle, introducing new business models, changing the working environment, and changing the labour market. As a result, the focus of this essay is on the idea of Industry 4.0, as well as its ramifications and significance.