Smart factories are set to become a revolutionary force of the manufacturing industry and provide a massive boost to the global economy, according to a new report by multinational information technology consulting company, Capgemini.
The Fourth Industrial Revolution, Industry 4.0 and 4IR are terms that are becoming commonplace in manufacturing. Now that these terms are accepted, a new wave of technical turns of phrase have been born.
Smart technologies are becoming increasingly ubiquitous in our day to day lives. From smartphones to smart homes, the dramatic increase in power and sophistication of technology is opening up new technological frontiers and promising endless possibilities for the development of many different industries, particularly manufacturing.
The important role connected technologies play in safeguarding manufacturing resilience has been highlighted with the global predictive maintenance market set to grow exponentially over the next five years.