Germany – A global study by Oliver Wyman on "digital industry" found that Industry 4.0 offers enormous potential, and not only within production. Most of the value of digital industry will be realised outside of the production area.
Production will of course be enhanced, the study said, but more importantly, digital industry will give rise to a second generation of “lean” over the next 10-15 years and impact processes like planning, pricing, maintenance, R&D and product launch.
Oliver Wyman predicts that the global annual margin impact of Industry 4.0 across discrete manufacturing in 2030 could be an estimated $1.4 trillion. The automotive sector could see the highest absolute value impact, while aerospace and rail-rolling stock manufacturers could see the largest relative change. Contrary to common belief, “digital industry” is not about technology, Oliver Wyman said. Technology will be an enabler, but the true value of the next industrial revolution is that it will lead to better decisions, more efficient processes, and new business models. Digital industry will dramatically transform the way industrial companies operate, with results over the next 10-15 years comparable to the introduction of mass production at the beginning of the twentieth century and to lean and re-engineering toward its end.
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