The notion, essence, and peculiarities of industry 4.0 as a sphere of industry

Abstract

The purpose of this chapter is to study the notion, essence, and peculiarities of Industry 4.0 as a sphere of industry. The methodology of the chapter includes the method of content analysis of scientific literature, systematization and classification of scientific knowledge, and the methods of systemic analysis and structural & functional analysis. The information basis of the research includes the materials of the official normative and legal documents of governments of different countries. The authors systematize and classify the existing knowledge in the sphere of Industry 4.0 and distinguish conceptual approaches to treatment of the notion “Industry 4.0”. The authors offer their own definition of the notion “Industry 4.0”, in which Industry 4.0 is presented as a new industrial model. As a result, the authors come to the conclusion that Industry 4.0 is a new vector of development of industry, which is presented only in certain developed countries and has a small share of their real sector—but in the future it may lead to gradual modernization of other spheres of industry. This means that Industry 4.0, which is treated as a sphere of industry, possesses a potential for changes of the existing technological mode. The universal character of the new industrial model, offered by Industry 4.0, opens a possibility for new industrial revolution, as a result of which Industry 4.0 will become a new global industrial landmark and standard of development of the real sector of economy of the whole global economic system.