Whether you call it Industry 4.0, the Industrial Internet of Things (IIoT), or Smart Manufacturing, the power of technology is being felt throughout the industrial world and fundamentally changing value chains and production methods. Indeed, so great is the change that Capgemini’s Digital Transformation Institute predicts that smart factories could add as much as $1.5 trillion to the overall output of the industrial sector in the next five years. This is because of the turbo-charge effect of smart technology, which is enabling factories to produce more while lowering costs. According to Capgemini, some industries may almost double their operating profit and margin.
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