The Implications of the Industry 4.0 Concept: A Review of the Fourth Industrial Revolution

Abstract

The modification of the production process and technological development have evolved deeply global industrial landscape innovation in the modern world. The research literature concentrated on clarification, importance and implication of technological system in the Industry 4.0 concept. The present literature represents of lack of operating skill efforts to systematically in the new fourth revolution. The intention of literature to contribute to the industry 4.0 concept, value and indication of the technological system in Industry 4.0. The improving production processes and increasing productivity and economy affecting the product life cycle impact on creating a new business model in the new industrial paradigm. The companies adopt the "industry 4.0" framework furthermore, many companies are not responsive about the challenges in the framework of concept. The research focus to contribute to the industry 4.0 concept, importance and implication of technological system.