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Manufacturing 4.0: Invest Now or Risk Falling Behind, Report Warns

Posted By Jeff Moad, August 16, 2016

Binary_Data.jpgManufacturers across all vertical industries are poised to dramatically ramp up investments in smart products, digitized processes and related technologies, skills, and training over the next four years, significantly altering the competitive landscape and putting at risk manufacturers that fail to keep pace, according to a research report recently released by Pricewaterhouse Coopers.

The study, “Industry 4.0: Building the Digital Enterprise,” predicts that manufacturers across verticals such as automotive, aerospace, electronics, and chemicals will invest on average five percent of revenues between now and 2020 on sensors, connectivity devices, software applications including manufacturing execution systems, training, and the hiring of digital specialists. That will account for $906 billion in annual spending on digitization activities related to Industry 4.0 (also known as Manufacturing 4.0.)

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