Anticipating Industry Convergence in the Context of Industry 4.0

Abstract

The merger of the digital and physical world in the context of Industry 4.0 is about to disrupt value chains and markets in almost every industry sector. In this context, the Internet of Things (IoT), enabling linkages and communication between physical and virtual objects, is the technological foundation of implementing Industry 4.0. In such a fast-paced environment, it is vital for companies to react quickly and exploit new business opportunities. One critical example is the interplay between logistics and information and communications technology (ICT) industries, where IoT has the potential to align goods and information flows in an unprecedented manner. The arising new functionalities, services and products show potential to blur the industries' boundaries and give birth to a whole new industry segment. Therefore, the present study strives to anticipate industry convergence between logistics and ICT industries in the realm of IoT. The empirical patent analysis is based on IPC co-classification and assignee structure. The analyses are refined along the different levels of IoT to provide detailed insights for companies where new technological and market competences need to be acquired.