Industry 4.0: Building the digital enterprise

Industrial companies are getting down to business with Industry 4.0 – all over the world. PwC’s global study “Industry 4.0: Building the digital enterprise” looks at how far digital technologies will advance by 2020.

Our report analyses the responses of executives from more than 2,000 industrial companies in 26 countries.  The average level of digitisation is expected to increase from 33% to 72% globally within five years. Furthermore, industrial companies are budgeting annually approximately 5% of their digital revenue for investing in digitisation.

The study outlines the benefits companies expect from Industry 4.0 and where they currently see the biggest barriers to its implementation. Industrial companies expect higher levels of digitisation to result in cost reduction of 3.6% and an additional revenue of on average 2.9% per year. Above all, finding sufficient numbers of specialists required for the transition will present difficulties, and companies still have progress to make as far as using data analytics consistently is concerned.

Learn more about our full global report, stay tuned for Asia Pacific insights coming soon.