Real-time process monitoring in industry 4.0 manufacturing systems: Sensing, smart, and sustainable technologies

Abstract

This article presents an empirical study carried out to evaluate and analyze real-time process monitoring in Industry 4.0 manufacturing systems. Building our argument by drawing on data collected from Accenture, BBC, BDO, Capgemini, McKinsey, and PwC, we performed analyses and made estimates regarding progress in the last year in implementing Industry 4.0 applications/strategies (%), digital intensity parameters (%), data monetization strategies (%), and current level of process integration (%). Data collected from 4,700 respondents are tested against the research model by using structural equation modeling.