Digitalization is driving the 4th Industrial Revolution by transforming businesses and creating value throughout the entire industrial value chain
Here's what's in the white paper:
Frost & Sullivan created this visual whitepaper to educate the industrial landscape on Industry 4.0.
Frost & Sullivan leveraged its 60+ years of market intelligence experience and distinguished reputation in industrial technologies to illustrate and discuss why industrial organizations should seriously consider embarking on a digital transformation journey by providing insightful concepts, facts, and concrete quantitative and qualitative evidence.
We will first set the context by providing a brief historical background, discussing the evolution and disruptions of the industrial and manufacturing realms, and clarifying terminology by elaborating on the digitization, digitalization, digital thread, digital transformation, and digital maturity concepts (which are often incorrectly used interchangeably).
We then dig into the Industry 4.0 era, its promise, current state, level of adoption, implications, and impact on the industrial ecosystem from a technological and business strategy standpoint.
Next, we briefly elaborate on the Industry 4.0 market, how the COVID-19 pandemic acted as a catalyst for digital transformation projects and accelerated Industry 4.0 adoption, and why “XaaSification” has established itself as a critical technology enabler.
We also explore the most critical Industry 4.0 needs and challenges and how PTC can become a unique partner for a thriving digital transformation journey. We present the most relevant Industry 4.0 use cases and how digitally matured companies are successfully approaching them, obtaining real, measurable, and quantifiable benefits and results.
Finally, we will present our analysis of what is next for the industrial landscape evolution.
The golden premise of any Industry 4.0 project is: think big, begin now, start small, build momentum, prove value quickly, and scale fast. However, this simple statement hides two complex challenges that nearly 65% of industrial companies face when embarking on a digital transformation project: pilot purgatory, or the failure to straightforwardly scale pilot projects (such as PoCs), and scale purgatory, or the failure to capitalize on pilots and promptly capture the desired impact at scale. A few scale purgatory challenges include poor alignment with financial outcomes, difficulty scaling use cases, a lack of awareness and alignment across the organization, and poor change management.
Frost & Sullivan estimates say that although 80% (and growing) of industrial companies have invested in implementing an enterprise-wide digital strategy, nearly 65% have failed to accomplish real, significant Industry 4.0 business value.
Several technological-related and organizational-related pitfalls combine to industrial companies falling into either pilot or scale purgatory, such as:
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