Across the globe, manufacturers are at different stages of the journey towards Industry 4.0.
Yet while most firms recognise the benefits of adopting advanced technology in their operations -- from efficiency savings to increased production quality and reduced downtime -- some have been slow to take the plunge.
In Canada, a recent survey of 251 company owners and senior executives by PLANT Magazine and BDO Canada LLP found that almost 90% recognise that technologies such as digital, automation, the cloud and AI help them compete globally.
Most of the companies involved in the survey are small, with more than half employing fewer than 50 people and/or generating revenue of less than C$10m (€6.5m) a year. Almost two thirds acknowledged that smaller operations have the most to gain from Industry 4.0. However, they are lagging behind their bigger competitors in adopting new industrial tech. For example, just 24% are using the Industrial Internet of Things (IIoT) to gather and analyse machine data and other digital information.
PLANT Magazine found that a variety of concerns are holding firms back, including the cost of Industry 4.0, where the financing needed to replace machinery and other equipment will come from, how legacy tech will be integrated, the return on investment (ROI), and potential cybersecurity risks.
National governments can help clear some of these barriers, according to trade association Canadian Manufacturers & Exporters (CME).
It recommended that the Canadian government improve the accessibility of information about new technologies and testing opportunities by funding case studies, technology demonstration hubs and site visits.
Another suggestion is a tax credit on the purchase of new machinery, equipment and technologies, to offset high purchase costs and investment risks of new technologies.
And the research report highlights the fact that, although SMEs may have good reasons for holding off on significant technology implementations, they will be facing competitors that have made or are making those investments.
"Companies that aren't preparing for the future will soon discover they're travelling on a short road," PLANT Magazine concludes.
To study how on-premises and Cloud energy management software can help delivering energy efficiency goals and assist to Industry 4.0 goals, click HERE.
Popular posts from this blog
First of all, let’s define what the phrase of „energy-management system” means . An energy-management system includes measurement device sub-systems with the possibility of user-intervention on failure. By utilizing such a system we are able to continuously track and analyse consumption/quality patterns , and determine low-efficiency areas quickly and easily, giving the opportunity to respond fast and efficiently. Recently the ISO 50001 standard has been released, which defines in great detail the expected structure of an energy-management system and the requirements of its installation. Installing energy-management systems is outstandingly significant for enterprises to keep their market competency , which I would explain below. For the companies its a vital factor to create their products as economically as possible . With energy-management systems we are able to recognize the inefficient areas of our production-cycle. Some examples to define these statemen
Regardless of the environment, AVRepoorter Energy Management Software can be utilized to aid the users with the required information to help them understand, how their facilities work. In the following post we will take a brief look at some of these environments, and observe how our software can give you an edge over the competitors by the power of information. Buildings (Offices, Logistic Centres, Warehouses, Shopping Centres, etc.) Implementation of load-shedding (in case of electricity and gas) Reduce peak demand and power factor penalties Monitoring of consumption and subscribed-power optimization Cost-allocation and sub-billing Building maintenance and monitoring solutions (SMS and/or e-mail alarms, alarms and events logs, keeping track of events and event change ,application of automation software) Energy Performance Certification of Buildings - A policy tool to improve energy efficiency Application of renewable energy sources
The current global health crisis is also a business and economic crisis and will change the way we work, with a greater focus on technology. That's according to Nigel Green, CEO of financial advisory firm deVere Group, who says that a recession triggered by the COVID-19 pandemic will lead to a "fundamental shift" in how we live, do business and invest. In particular, Green expects to see an acceleration in the adoption and development of Industry 4.0, or the fourth industrial revolution, reports technology and business news provider Verdict. "The coronavirus outbreak can be expected to speed up the so-called fourth revolution, which is fuelled by new technologies such as artificial intelligence and mobile supercomputing," he said. The physical distancing and self-isolation measures currently in place around the world are likely to help reinforce the adoption of digital technologies, Green added. "Enforced social distancing will highligh