An In-Depth Analysis of the Various Factors Influencing Industry 4.0 and its Impact on the Overall Performance of the Industrial Sector to Achieve Sustainable Development
DOI:
https://doi.org/10.3991/ijoe.v17i11.25325Keywords:
Industry 4.0, Industrial Revolution, Big Data, Technology AdoptionAbstract
In the last two years, the entire world has been confronted with the emergence of pandemic Covid 19, which poses several challenges to the entire human race. Covid 19 has been forced to adopt new innovative technology. To survive in this precarious situation; most of the organization has adopted new innovative technology to meet the expectations of the market and the demands of consumers. In this study, the primary goal is to identify the various factors that have an impact on Industry 4.0 while also evaluating the impact of Industry 4.0 on the overall performance of the industrial sector. An exploratory research approach is used by researchers to discover the characteristics and relationships of new research phenomena. This approach is particularly useful when researchers are looking for answers to the questions of what and how they came to be discovered. This study demonstrates that the use of Industry 4.0 technologies will increase the effectiveness and efficiency of organizations and industries. This is beneficial because organizations and industries need to develop and survive in this competitive era. Adoption of smart machine and smart product applications will become more common with the widespread use of information and communication technology for all aspects of business operations and activities.
Downloads
Published
How to Cite
Issue
Section
License
The submitting author warrants that the submission is original and that she/he is the author of the submission together with the named co-authors; to the extend the submission incorporates text passages, figures, data or other material from the work of others, the submitting author has obtained any necessary permission.
Articles in this journal are published under the Creative Commons Attribution Licence (CC-BY What does this mean?). This is to get more legal certainty about what readers can do with published articles, and thus a wider dissemination and archiving, which in turn makes publishing with this journal more valuable for you, the authors.
By submitting an article the author grants to this journal the non-exclusive right to publish it. The author retains the copyright and the publishing rights for his article without any restrictions.