What Ernst & Young survey says about Industry 4.0?

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Even though Industry 4.0 is making a lot of news with new opportunities and doors to new ventures. But two things that EY focused on in their survey that what goals are needed for firms to adopt digitalization and how much capital needs to be invested in Industry 4.0?

The goals needed by companies to adopt digital technologies in Industry 4.0 — The survey is done for non-capital-market-oriented companies with 30 to 2000 employees with sales of at least 20 million euros and a 1 billion Euro of maximum turnover

In the survey, the result shows that 59% is recorded for flexible reactions to changing requirements that have been considered the strong point and the next is adjusting to fluctuations with fast demand.

In the next survey, the firms have been divided into two groups, one is with 100 to 500 employees and the other one is with 500 and above employees. The timeline is from July 2016 to August 2018,

Development of investments in Industry 4.0 for 100 to 500 employees — 352 users and planners of Industry 4.0 are surveyed from applications, manufacturing companies with 100 employees.

Development of investments in Industry 4.0 for 500 and above employees — 352 users and planners of Industry 4.0 are surveyed from applications, manufacturing companies with 100 employees.

In both cases, the opinion recorded shows that 54% totally agree that investment in Industry 4.0 will increase up to 5 percent.

In my opinion, the development shows the rise and the demand of Industry 4.0 have been strongly covered and the employees are also accepting the changing and integrating it strongly.

It is true that the change cannot be denied but the involvement from the employees in Germany shows a strong engagement and the complexity has been very well accepted.

Source:- Statista (Industry 4.0)