Industry 4.0 (as in the ‘fourth industrial revolution’) has become much more than a mere catchphrase. It’s a promise of how combining trends and technologies will change the way things are made – and South African companies are starting to take note.
An Industry 4.0 survey by PwC found that all 61 companies that responded have plans to spend around ZAR6 billion per annum over the next five years on developing their digital portfolios, according to a Money Web report.
Their investment focus lies primarily in technological developments (such as the internet of things, mobile devices, cloud computing, 3D printer sensors, software and apps, including manufacturing execution systems).
Industry 4.0 also involves end-to-end digitisation of the value and supply chains, as well as finding new ways of interacting with customers. At present, South Africa’s level of digitisation and integration stands at 27%. This, however, is expected to rise to 64% by 2020.
