Both found gaps between the manufacturers’ Industry 4.0 plans and results achieved so far. Making Industry 4.0 pay isn’t just about manufacturing technology; it’s about completely redefining how manufacturing operations work to achieve greater circular economy and sustainability results. Digital product development is expected to increase efficiency 19%, reduce time-to-market by 17% and reduce production costs by 13% of the next five years as the graphic from PwC illustrate below:PwC Digital Product Development 2025, Product development in industrial companies is going digital. PwC Digital Product Development 2025, Product development in industrial companies is going digital. PwC Digital Product Development 2025, Product development in industrial companies is going digital.

Source: Forbes February 09, 2020 22:18 UTC