Industry 4.0 Adoption – A Case of Manufacturing Companies

Abstract

The paper discusses the topic of Industry 4.0 as one of the key trends that are shaping the current business environment as well as the whole society. Industry 4.0 is often represented by the latest technical innovations and new technologies. Many experts and researchers have already pointed out the significant benefits of Industry 4.0 adoption in terms of lower costs, improved efficiencies, increased yield, mass customization, and most importantly, new revenue and business models. However, the level of adoption of Industry 4.0 can vary across industries and companies. There are still differences in the companies' approaches to adapting to the technologies and technological progress connected with Industry 4.0. In our research, we focused on manufacturing companies from various industries and studied their perceptions of the current state of Industry 4.0 in respective industries and its effect on competitiveness. We used structural interviews to gather the data on the sample of 47 companies.

Keywords: Industry 4.0, manufacturing companies, competitiveness

DOI: 10.54941/ahfe1004103