The fourth industrial revolution, Industry 4.0 is poised to happen on a global scale, taking the automation of manufacturing processes to a new level by linking the cyber & physical, incorporating AI and enabling customized and flexible mass production technologies. Industry 4.0 creates a “SMART Factory” within which the cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real-time.
Industry 4.0 enables minimizing wasteful processes and actions and optimizing the use of energy and other inputs. This is achieved based on capturing data, its analysis and using the analysis to improve the functioning of machines, factories, and systems.
Germany, France, China, USA, etc. have created platforms for pre-competitive cooperation in Industry 4.0. These nations are looking towards automation and control as to replace expensive manpower and attain lower cost of conversion thus regain their share in the manufacturing economy from emerging economies.
However, the focus of the Indian programme for Industry 4.0 is on using technology to make products for the global markets at competitive rates and to embrace I4.0 technology with latest technological advancements.