Industry 4.0: Principles, Effects and Challenges

Industry 4.0 will disrupt and change how we produce, do business, and live our lives. Related to manufacturing, the way products are produced will change radically not only within a company but also across companies. So, like any other revolution, the fourth industrial revolution will also produce winners and losers. Occupations, companies, and industries will die whereas new ones will emerge. So, companies need to adapt properly to those new technologies in order not to be pushed out of business. This book makes a contribution to understand the developments related to Industry 4.0. Experienced and well-established authors came together to shed light on different but complementary topics to offer a holistic view on Industry 4.0. Here, the Industry 4.0 ecosystem, implications of Industry 4.0 on human workforce, technical challenges and application examples are addressed.