Industry 4.0 – A Primer on Start-up Driven Industrial Stories
Published by : Industrial Automation
Indian industry is already reaping the benefits of Industry 4.0 with companies experiencing a step-up in revenues attributed to technology adoption.
As we begin to feel the impact of the fourth industrial revolution, manufacturers must now focus on new, disruptive technologies to solve different combinatorial problems. Industry 4.0 would be driven by products and services such as electric vehicles, smart products, drones, digital twins, automation technologies along with few others. While for some this will act as a driver for their business enabling devising smart models, it will be an existential threat for the late adopters or the laggards. Often manufacturers or enterprises are hesitant in deploying the infrastructure needed to adapt to Industry 4.0 environment. At the same time, lots of tech vendors lack understanding of tools and platforms needed to address a specific pain-point. Thus, herein remains the challenge of bringing in the new technology onto their shop floor and arrive to an enterprise wide solution.
An agile approach might help in adopting the right technologies aligned to customer problem. Implementation of an agile process will make the digitalization much easier with most of the manufacturers reaching out to partners to enable finer points of technology. An agile methodology is a gradual approach that minimises the risks of unknown technologies. A rigid business plan is not suited in this scenario and therefore an iterative methodology would enable the workflow. However, an agile approach requires collaboration as most of the adopters would need a partner to identify the problem and help them with finer points of the emerging technologies. A co-creation or a collaborative method brings in all the stakeholders together to build a Industry 4.0 ecosystem, thus a major part of creating an Industry 4.0 environment would be to open to partnerships
From vision to implementation NASSCOM report titled “A Primer on Start-up Driven Industrial Stories” aims to understand the shift from legacy products to emerging technologies like IoT, Electric Vehicles, 3D Printing and the role of Indian start-ups in driving innovation at the industrial front. While the report highlights some of the existing and potential use cases, application areas, challenges etc., it also presents a probable approach
to Industry 4.0 and the next steps for companies engaged in providing solutions in this domain.
To read the full research report and download it in PDF visit the link (https://www.nasscom.in/knowledge-center/publications/industry-40-primer-startup-driven-industrial-stories)