Challenges/opportunity of industry 4.0. and the purpose of Open Industry 4.0 Alliance

Industry 4.0 promises to digitally transform the manufacturing processes in discrete and process industries. Despite the numerous opportunities that the so-called fourth industry promises companies are still forced to face numerous challenges. 

Industry 4.0 has been touted as a solution able to solve a string of challenges faced by the manufacturing companies  in today’s market  Automatization, integration and optimization of processes and manufacturing lines are one of the key aspects of digital transformation that are required for the realisation of industry 4.0.  This often leads to closed approaches to connectivity, lacking in collaboration between IT and operational technology ass well as security concerns in regards to connections, authentication and authorization. The inability of unlocking the potential value of digital journey presents a great challenge for operators. This is due to lack of openness since digitalization is often perceived as a long-term investment and Standardization is not easy when there are lots of standards. Through this process of digitalisation, OEM is offering their asset-specific expertise as an initiative to find ways to stay relevant and expand revenue potential. However, regardless of all the challenges, the opportunities are still very compelling. The McKinsey Global Institute predicted that the value creation potential of factory digitization (also known as IIoT or Industrie 4.0) will range from $1.2 trillion to $3.7 trillion in 2025. This leads to companies excepting all the challenges and massively investing in Industry 4.0/IIoT solutions from different vendors on different platforms. In April 2018 a group of companies decided to take matters in to there own hands which resolved in the formation of The Open Industry 4.0 Alliance with the motive to “create customer value through holistic interoperable Industry 4.0 solutions and services in a common framework powered by an alliance of leading industry partners to drive the digitization of the factory, plant, and warehouse of our customers.” by aiming to accelerate digitization in factories, processing plants, and warehouses, resolving in mutual benefits for both customers and members.

Follow the link below to read more about the challenges, opportunities and the open industry 4.0 alliance:

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