Viva la revolución- the dawn of the 4th industrial revolution
“Industrial revolution” is a transformation (or transition), made by mostly traditional industries, being introduced to new manufacturing processes. The 1st industrial revolution happened during the 17th and 18th century, and included a transition from hand production methods to machines, new chemical manufacturing and iron production processes, development of machine tools and the rise of factory system.
Manufacturing has a great economical global value. China, South Korea, Germany, Indonesia and Japan base 20-30% of their economy on the manufacturing sector. China and the USA are by far the leading manufacturing empires of the world, followed by Japan, Germany and South Korea. By 2010 China displaced the United States as the largest manufacturing nation.
Furthermore, the 2018 global manufacturing sector will reach, in terms of value added, $13 trillion. A share of 17% of the Global GDP, a share which has not changed much over the past years.
Today, many believe that global manufacturing is changing again. So, what is the 4th industrial revolution? And how will it change industrial manufacturing?
A popular definition to the 4th Industrial revolution is an economy driven by 3 technological components:
- Industrial IoT (also referred to as IIoT)
- Industry 4.0
- Artificial intelligence (also referred to as AI)
However, many overlook the fact that during the past 5 years quantum technologies have been transformed from science fiction technologies to reality. It’s our opinion that due to dramatic technological developments in the field of Quantum Technologies it must be included as a key element of the 4th industrial revolution as well. Therefore, when Industry 4.0 Market Research refers to the 4th industrial revolution we mention 4 main pillars – IIoT, Industry 4.0, AI and Quantum Technologies.
Each of the 4 components of the 4th industrial revolution market will create many changes in our day to day life in the near future.
Check out our Industry 4.0 Market, Technologies & Industry: 2019-2023 report at: https://industry40marketresearch.com/reports/industry-4-0-market-technologies/