Big data-driven smart manufacturing: Sustainable production processes, real-time sensor networks, and industrial value creation

Abstract

This article reviews and advances existing literature concerning big data-driven smart manufacturing. Using and replicating data from AMG World, Deloitte, European Business Summit, Forbes, KSM, McKinsey, PwC, SME, and World Economic Forum, we performed analyses and made estimates regarding most powerful benefits of smart manufacturing (%) and drivers of technological change, industries overall (%). Data were analyzed using structural equation modeling. JEL Codes: E24; J21; J54; J64.