Industry 4.0

Industry 4.0 is currently the subject of intense debate. Large companies small and medium-sized enterprises and members of the public all over the globe are interested in the concept that when successfully implemented sets out to revolutionise the way goods and services are created and distributed. Here Empirical experience shows that companies with a less established process structure are more likely to embrace the new elements of Industry 4.0. Indeed this could very well also hold true at the industry level in general. Modern industrial structures that were built up comparatively recently are well fitted for the upcoming digital evolution. This would have severe implications for countries’ competitive advantage on international markets. China sets out to play a leading role in this digital evolution by a comprehensive upgrade of the entire Chinese industry. The country is determined to seize the outstanding opportunity at hand.