How Industry 4.0 Changes Business : A Commercial Perspective

Abstract

Industry is the part of an economy that manufacture components and goods which are highly automatized. This paper presents a general understanding about the Fourth Industry Revolution- Industry 4.0 approach from a commercial point of view. Firstly, the history of Industrial Revolution is explained and the roadmap to Industry 4.0 is shown. Industry components and the main understanding of Industry 4.0 is explained through the previous studies. Secondly, the most common usage, implementation areas and the challenging points are demonstrated. Commercial and industrial application examples of Industry 4.0 in different sectors and the possible implementation areas are defined based on countries and sectors. Finally, the commercial impacts of this new business model is given from the industrial and human perspectives.