Reinventing oneself is the key to survival in an ever-competitive market. Industry 4.0 is named so as it is touted to be the fourth iteration of the Industrial Revolution, capable of overturning the way we perceive production, management, and sales. A combination of multiple novel concepts like robotics, cloud, AI, IoT, 3D printing, Enterprise Architecture, etc., Industry 4.0 is seeping into every sector and has already turned a considerable number of heads to its promises. It is the gateway to identify opportunities in the market by finding requirements in areas sparsely catered.
Having access to humongous amounts of data pooled in from resources like Big Data, IoT, and cloud storage, Industry 4.0 essentially brings the concepts of Smart Factory and Industrial Internet of Things (IIoT) among others, closer to realization. Driven by a thirst for faster, streamlined and efficient production, a dire need for industrial automation, smart management of all operations, and a constant strive for customer satisfaction, Industry 4.0 proposes proper application in pharmaceuticals, food & beverages, Aerospace, Chemical Manufacturing, and automotive sectors. Though the German and the Japanese are forerunners, the pace has witnessed APAC region joining the foray at an incredible rate. China and North America stand the chance of benefiting the largest from Internet 4.0.
Trends indicate that digital transformation will merge with Industry 4.0, as it promises to be the future, with Start-ups postured to be the immediate highest benefiter from Industry 4.0. Robotics might finally touch mainstream, as an increase in the requirement for Robotics-as-a-Service (RaaS) is projected for substantial growth. The one challenge faced in the field is a lack of powerful tools, a major obstacle for exploiting the full potential of Industry 4.0, though statistics indicate major strides in the area from the side of start-ups.
While Internet 4.0 ensures an exponential growth for companies, it is an arduous task of fishing out exciting start-ups in the field, which promise an excellent potential. To make this task easier, we have assessed the top startups that implement Industry 4.0 with innovative ideas alongside the current technological trends in the sector. A distinguished panel comprising CEOs, CIOs, VCs, Analysts and the editorial board of StartupCity has selected a list of cognitive startups.
We present to you StartupCity’s “15 Most Promising Industry 4.0 Startups - 2019”.
