ABSTRACT
In this chapter, we examine the Industry 4.0 framework alongside the definition and drivers of the Industry 4.0 paradigm. As part of this, we assess the potential impact and identify Industry 4.0 challenges. A comprehensive literature analysis was conducted for the research approach, relying on current comprehensive studies connected to Industry 4.0. We find that Industry 4.0 defines the vision of a future production system; it is an unavoidable revolution and dramatic transformation encompassing a wide variety of new technologies and industries. Organizations benefit from Industry 4.0 in various ways, including real-time data analysis, better visibility, autonomous monitoring, increased production, and enhanced quality and competitiveness. Collaboration and horizontal and vertical scheme integration are fundamental elements of Industry 4.0. In enterprises, industries, and countries, innovation is critical. Industry 4.0 has immense promise in many domains. Its implementation will have a wide-ranging impact on how people work and how to increase the adding value from a client value perspective.
