Industry 4.0: Adoption challenges and benefits for SMEs

Masood, Tariq; Sonntag, Paul

doi:10.1016/j.compind.2020.103261

Cited by 338 publications

(185 citation statements)

References 35 publications

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“…A crucial issue to be taken into account in the development of such smart ICPS systems is to look and think beyond the technology, taking special attention to business, socialorganizational, economic, and ethical aspects. Beyond technology, financial and knowledge constraints are found to be key challenges for small and medium-sized enterprises that constitute the majority of Europe's businesses [13] and similar results are also evident in other studies [73]. In addition, other aspects such as resistance by employees or middle-management need to be considered as they hinder the adoption of Industry 4.0 [74].…”

Section: G Business Orientation and Ethicssupporting

confidence: 63%

“…Furthermore, a recent survey of more than 2000 companies from several industrial production sectors, claims an increase in the level of digitization and networking in the industrial companies by 2020 from 33% to 72% was predicted [10], while others [12] point to an adoption rate of around 50% of Industry 4.0 principles, concepts, and technologies until 2035 for the Western European countries. Such expectations are also of interest when they intersect with the adoption in small and medium-sized enterprises [13], which for instance, in Europe reflect the majority of companies. Because Industry 4.0 is about value creation and not only optimizing existing methods and processes, these examples point towards the significant influence that is expected to benefit from Industry 4.0, and which have implications, e.g., towards economic growth, innovation, and job creation.…”

Section: Introductionmentioning

confidence: 99%

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Quo Vadis Industry 4.0? Position, Trends, and Challenges

Leitão

Pires

Karnouskos

et al. 2020

IEEE Open J. Ind. Electron. Soc.

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Industry 4.0 vision and its mandated digital transformation are radically reshaping the way business is carried out and the way overall industrial processes and collaborations are operating. In this work, the objective is to analyze the current level of adoption of Industry 4.0, via the footprint available in industrial and academic research works. The analysis performed reveals insights on how Industry 4.0 has impacted and is still influencing research and innovation in industrial systems, services, and business approaches. It also reveals pertinent trends on key enabling features, technologies and challenges associated with this 4 th industrial revolution, mainly focusing on the pathways for wider industrial adoption of Industry 4.0-compliant technologies and solutions.

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Section: G Business Orientation and Ethicssupporting

confidence: 63%

Section: Introductionmentioning

confidence: 99%

Quo Vadis Industry 4.0? Position, Trends, and Challenges

Leitão

Pires

Karnouskos

et al. 2020

IEEE Open J. Ind. Electron. Soc.

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“…The intention was to inspire investigations into identifying the essential technologies relevant and available to small businesses in EMDEs that can be employed to create and sustain strategic advantage, improve operations activities and processes, and ensure the growth and development of SMEs. We also intended to identify the challenges that inhibit the adoption of technology and innovations by SMEs in the EMDEs as the world prepares to launch the fourth industrial revolution (Masood and Sonntag 2020;Toro, Barandiaran, and Posada 2015).…”

Section: Artificial Intelligencementioning

confidence: 99%

Small business awareness and adoption of state-of-the-art technologies in emerging and developing markets, and lessons from the COVID-19 pandemic

Akpan

Udoh²,

Adebisi

2020

Journal of Small Business & Entrepreneurship

224

146

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Many challenges continue to hinder digital technologies' adoption by small and medium scale enterprises (SMEs) in developing economies. Comparatively, there are more success stories by SMEs in emerging markets. However, most SMEs operating in the informal sector in the emerging markets and developing economies (EMDEs) face similar challenges that inhibit the adoption of advanced technologies and innovations needed to improve business operations and re-engineer processes. This article evaluates the implementation and use of state-of-the-art technologies by SMEs in EMDEs to improve operations performance and create sustainable competitive advantages. Further, the papers in this Special Issue identify FinTech and analytical algorithms as some of the current technologies employed by SMEs in EMDEs to improve operations and processes in the manufacturing and service industries. The recognized technologies and technical innovations that seem novel in EMDEs have long existed in the advanced economies. Most state-of-the-art technologies, including cloud computing, 'big data', and predictive analytics that can improve operations and strategic decisions, are yet to make inroads in most EMDEs. Also, disruptive computing technologies, data analytics, and the Internet of Things (IoT) required to engineer new business models, reduce overheads, enhance competitive advantages, and digitize SMEs' business operations remain untapped. The absence and non-adoption of digital technologies in EMDEs explain why business activities in most EMDEs remain shut during the outbreak of SARS-CoV-2 and the community lockdown to contain the COVID-19 pandemic. The strategies to survive the 'new normal' imposed by COVID-19 and fierce global competition includes a successful adoption of advanced technologies. RÉSUMÉ De nombreux d efis continuent a entraver l'adoption des technologies num eriques par les petites et les moyennes entreprises (PME) dans les economies en d eveloppement. En comparaison, les PME ont plus de succ es dans les march es emergents. Cependant, la plupart de celles qui op erent dans le secteur informel des march es emergents et des economies en d eveloppement (MEED)

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“…Despite all the advances in the field of middleware technologies, there are several significant challenges in meeting the requirements of DCS systems [ 22 ]. As this project aims to be a customizable solution, capable of meeting the demands of the most different customers, the proposed solution will be called as a platform [ 23 ]. A platform is a unit that guarantees or supports the interoperability of its components according to certain rules or terms, that is, an environment capable of accommodating the specific requirements of each company, instead of middleware, a solution that does not allow customizations (the same solution for all customers).…”

Section: Motivations Problem Requirements and Proposed Definitimentioning

confidence: 99%

FASTEN IIoT: An Open Real-Time Platform for Vertical, Horizontal and End-To-End Integration

Costa

Nassar

Gusmeroli

et al. 2020

Sensors

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The Industry 4.0 paradigm, since its initial conception in Germany in 2011, has extended its scope and adoption to a broader set of technologies. It is being considered as the most vital mechanism in the production systems lifecycle. It is the key element in the digital transformation of manufacturing industry all over the world. This scenario imposes a set of major unprecedented challenges which require to be overcome. In order to enable integration in horizontal, vertical, and end-to-end formats, one of the most critical aspects of this digital transformation process consists of effectively coupling digital integrated service/products business models with additive manufacturing processes. This integration is based upon advanced AI-based tools for decentralized decision-making and for secure and trusted data sharing in the global value. This paper presents the FASTEN IIoT Platform, which targets to provide a flexible, configurable, and open solution. The platform acts as an interface between the shop floor and the industry 4.0 advanced applications and solutions. Examples of these efforts comprise management, forecasting, optimization, and simulation, by harmonizing the heterogeneous characteristics of the data sources involved while meeting real-time requirements.

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Industry 4.0: Adoption challenges and benefits for SMEs

Cited by 338 publications

References 35 publications

Quo Vadis Industry 4.0? Position, Trends, and Challenges

Quo Vadis Industry 4.0? Position, Trends, and Challenges

Small business awareness and adoption of state-of-the-art technologies in emerging and developing markets, and lessons from the COVID-19 pandemic

FASTEN IIoT: An Open Real-Time Platform for Vertical, Horizontal and End-To-End Integration

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