Industrial companies from all sectors across the globe are getting down to business with Industry 4.0. The project’s implementation is in full swing all around the world: about one third of companies already rate their level of digitisation as high, and this value is expected to rise on average from 33% to 72% within the next five years. In South Africa, the current level of digitisation and integration is expected to rise from 27% to 64% within the next five years.
Industrial companies are digitising essential functions within their internal vertical value chain, as well as their horizontal partners along the supply chain. A high 87% of South African companies plan to introduce new digital products and data based services over the next five years. In addition, companies worldwide want to invest about 5% of their revenue annually on digitisation. Based on the industries surveyed, 5% of revenue corresponds to a total investment of $US 907 billion. A major focus of these investments will be on digital technologies like sensors or connectivity devices, and on software and applications like manufacturing execution systems.