ABSTRACT. We inspect the relevant literature on sensing, smart, and sustainable technologies in Industry 4.0, providing both quantitative evidence on trends and numerous in-depth empirical examples. Building our argument by drawing on data collected from Ad Hoc Research, BDO, DAA, Deloitte, eMarketer, IoT Analytics GmbH, Management Events, and McKinsey, we performed analyses and made estimates regarding challenges of implementing artificial intelligence (%), top barriers encountered by manufacturers in Industry 4.0 (%), the biggest benefits of industrial data analytics for organizations (%), and top five Industry 4.0 applications with progress achieved (%). Data collected from 4,600 respondents are tested against the research model by using structural equation modeling.
JEL codes: E24; J21; J54; J64

Keywords: cyber-physical network; Industry 4.0; digitized mass production

How to cite: Milward, Rosalie, Gheorghe H. Popescu, Katarina Frajtova Michalikova, Zdenka Musova, and Veronika Machova (2019). “Sensing, Smart, and Sustainable Technologies in Industry 4.0: Cyber-Physical Networks, Machine Data Capturing Systems, and Digitized Mass Production,” Economics, Management, and Financial Markets 14(3): 37–43. doi:10.22381/EMFM14320195

Received 19 March 2019 • Received in revised form 12 August 2019
Accepted 20 August 2019 • Available online 10 September 2019