Industry 4.0 as the Last Industrial Revolution and Its Opportunities for Developing Countries

Abstract

In this chapter, better understanding of Industry 4.0 is presented by investigating the role of different technologies and business partners on success of Industry 4.0. Enablers for smart factory are discussed in detail, and how to match these enablers with value chain partners of Industry 4.0 are identified as a new perspective on Industry 4.0. Furthermore, the aim of this chapter is to present actions to be taken from the point of the emerging economies to sustain and increase competitive advantage by catching and implementing Industry 4.0. Consequently, Industry 4.0 can enable developing countries to get a bigger slice of the world manufacturing value chain.