What is Industry 4.0? Where it will be use? Will industry 4.0 rule the world?

Industry 4.0:-

Industry 4.0 is a name given to the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of things, cloud computing and cognitive computing. Industry 4.0 is commonly referred to as the fourth industrial revolution.

Industry 4.0 fosters what has been called a "smart factory". Within modular structured smart factories, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real-time both internally and across organizational services offered and used by participants of the value chain.

How the name comes?

The term "Industry 4.0", shortened to I4.0 or simply I4, originates from a project in the high-tech strategy of the German government, which promotes thecomputerization of manufacturing.

The term "Industry 4.0" was revived in 2011 at theHannover Fair. In October 2012 the Working Group on Industry 4.0 presented a set of Industry 4.0 implementation recommendations to the German federal government. The Industry 4.0 workgroup members and partners are recognized as the founding fathers and driving force behind Industry 4.0.

On 8 April 2013 at the Hannover Fair, the final report of the Working Group Industry 4.0 was presented.. This working group was headed by Siegfried Dais (Robert Bosch GmbH) and Henning Kagermann (German Academy of Science and Engineering).

As Industry 4.0 principles have been applied by companies they have sometimes been re-branded, for example the aerospace parts manufacturerMeggitt PLC has branded its own Industry 4.0 research project M4.

Revolution of Industry

Impacts of Industry 4.0:-

Proponents of the term claim Industry 4.0 will affect many areas, most notably:

1. Services and business models
2. Reliability and continuous productivity
3. IT security: Companies like Symantec, Cisco, andPenta Security have already begun to address the issue of IoT security
4. Machine safety
5. Manufacturing Sales
6. Product lifecycles
7. Manufacturing Industries: Mass Customisations instead of mass manufacturing using IOT, 3D Printingand Machine Learning
8. Industry value chain
9. Workers' education and skills
10. Socio-economic factors
11. Industry Demonstration: To help industry understand the impact of Industry 4.0, CincinnatiMayor John Cranley, signed a proclamation to state "Cincinnati to be Industry 4.0 Demonstration City"
12. An article published in February 2016 suggests that Industry 4.0 may have a beneficial effects for emerging economies such as India.