Industry 4.0 roadmap: Implementation for small and medium-sized enterprises

Abstract

The Industry 4.0 era has resulted in several opportunities and challenges for the manufacturing industry and for small and medium-sized enterprises (SME); technologies such as the Internet of Things (IoT), Virtual Reality (VR) or Cloud Computing are changing business structures in profound ways. A literature review shows that most large-sized enterprises have rolled out investment plans, some of which are reviewed during this research and show that Industry 4.0 investments in such companies exceed the turnover of SMEs in all cases (