According to research, “The Industry 4.0 market is expected to be rated USD 71.7 billion in 2019 and is supposed to reach USD 156.6 billion by 2024, at a CAGR of 16.9% from 2019 to 2024.”
The idea of Industry 4.0 applies to machines and products completely connected and interacting data to digitize the sales cycle and other business operations.
In this cutting-edge era, disruptive technologies such as the Internet of Things (IoT), virtual reality (VR), and artificial intelligence (AI) are transforming the method businesses build products and internal solutions, which were difficult to predict decades ago. No matter when, but how fast you will combine this technology into the process you do business to endure competing.
A study explains that only 14% of managers are very confident that their companies are willing to completely control the changes connected with Industry 4.0.
Every company is different, but they all have one thing in common, with the digital change, the sales cycle also improves. Every business meets the challenge for real-time insight over methods, product, and client engagement.
That’s why you should consider Industry 4.0 as your best partner. Though, that alone won’t do the trick. Ultimately, it’s about to transform your complete business functions, and it will occur in the scrapping of some traditional practices within the workforce.
Top Industry 4.0 technologies that are shaping the businesses
Industry 4.0 Technology or the Fourth Industrial Revolution is full-fledged. According to Salesforce, these are the technologies that should include in your business process to be more relevant and change the way you communicate with customers:
Robotics
This technology transforms conventional production connections among suppliers, merchants, clients, and between computers and people. Automated robots improve business productivity by learning from humans’ decisions. Machines are now changing industries such as healthcare and finance in which error-free exercises are essential. Machines are also excellent for taking charge of some repeated tasks, but automation won’t take away all jobs. This technology is making operators more productive rather than replacing them. The human + machine is the top combination that will make your business grow.
Artificial Intelligence (AI)
Forget about tedious workflows. AI is used in many ways, from obtaining insights about your sales history to foretelling future customer’s actions. Also, more so if you know the advantages of connecting Artificial Intelligence with your existing CRM software. Including an AI-powered CRM such as Zoho CRM’s Zia and Salesforce’s Einstein, you will discover from past choices and historical patterns to get the best guidance for sales. You can also enhance customer engagement as this technology helps you get a keen insight during the sales cycle.
Virtual reality (VR)
This technology allows different experiences combining the physical and virtual worlds. Also, it will draw you closer to your clients. For instance, an app that lets users explore products before purchasing them will ensure a sale. By giving them a personalized experience, you can enhance customer loyalty.
Internet of Things (IoT)
Nowadays, it is essential to have standard devices connected to the internet with each other. A significant benefit for Industry 4.0 Manufacturing companies is that they can gather customer data from these related products. They let businesses discover how customers use products or what they’re viewing to launch more targeted marketing messages and shorten the sales cycle. IoT-assisted production is now used by companies such as Airbus, Siemens, and Cisco.
Also, read: Top IOT Platforms For Kick Start of your IoT Projects.
Benefits of choosing an Industry 4.0 for your business
The merging of technology and business is what can arrange you aside from your rivals. Benefits such as enhanced efficiency, lower costs, higher revenues, and change are essential. Hence the significance of understanding how Industry 4.0 will help you explore new business opportunities.
Better supply chain management and optimization
Industry 4.0 provides you higher insight and data visibility across a complete supply chain. It also influences how products are customized, where they are produced, and how they are made for us. For instance, technologies like 3D-printing support manufacturing businesses to print their parts, which can do wonders to enhance product quality at a lower cost and quicker than traditional methods.
Become a consumer-centered business
Companies that observe real-time data accessible with Industry 4.0 can provide customers better service. It’s suggested that you also rely on a robust ERP and CRM integration to produce precisely what the customer wants and keep them happy.
Decrease costs
Once automation and intelligence are developed into products and sales processes, investments will pay off—higher levels of automation results in less wasted materials and more effective methods.
Bottom Line
As per Forbes, Industry 4.0 Technology introduces what has been called the “smart factory.” Computers and networks observe the physical sales methods and make simple decisions independently and become as independent as possible. This will deliver your company a developed business that changes to new requirements.
The confident influence of the technologies mentioned above can have on your business is positive. Teksun, a pioneer in the IoT product engineering domain, builds industrial solutions–Machine Monitoring and Predictive Maintenance–to increase productivity holistically.
