Our innovation and startup scouting unit analyzed over 12 500 startups to identify the key drivers and technologies of industry 4.0. This research is backed by our proprietary AI- and data-driven innovation scouting approach, which enables us to pinpoint emerging trends and innovations. Through this thorough analysis, we uncover the technologies that are shaping the future of manufacturing, automation, and industrial processes.
Our insights provide a detailed understanding of how these innovations are driving efficiency, productivity, and sustainability in industry 4.0, helping businesses to stay competitive and capitalize on new opportunities in the evolving industrial landscape.
This article was last updated in July 2024.
Dive into Our Data-driven Industry 4.0 Innovation Map
Connectivity and smart devices provide the foundation for disruptive innovation areas ranging from 3D printing to advanced robotics and predictive analytics, making the shift toward Industry 4.0 all but reversible. Let’s take a look at the six most dominant innovation areas and their applications in Industry 4.0:
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Big Data & Predictive Analytics
Used for real-time decision-making, big data plays a key role in creating value. Equipped with big data and analytics, manufacturing companies are able to reduce their downtime while increasing their output. Moreover, due to their capability to foresee the failure of machines, predictive analytics act as an enabler for predictive maintenance and will soon be followed by prescriptive analytics. This technology will suggest decision options and allow companies to take full advantage of the results provided by prescriptive analytics.
Cloud Computing
Cloud Computing enables the handling of large amounts of data needed to automate production processes – making it a key element in the 4th Industrial Revolution. While cloud technologies are already utilized to provide various solution packages such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), or Software as a Service (SaaS), they are being advanced further, soon to reach extraordinarily short reaction times (Edge Computing / Edge Intelligence).
Additive Manufacturing
Commonly known as 3D Printing, the technology’s development has enforced the use of other materials than plastics such as metal, ceramic, and even biomaterials. Additive Manufacturing highly benefits the cost-efficiency of low-volume productions and positively impacts the supply chain through shorter delivery times and inventory reduction, adding another cornerstone to the decentralized production model.
Cyber Security
Despite its many advantages, the connectivity of Industry 4.0 adds a layer of vulnerability. Wearables of the workforce, for example, reveal the location and personal data, turning corporate espionage and hackers into a legitimate threat. Companies are at high risk of falling victim to potential cyber-attacks, demanding them increase the security level in manufacturing lines and smart factories.
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Predictive Maintenance
Ideally, a machine should only be repaired when necessary, meaning at a point when a defect is affecting the machine’s performance but keeping it running is still safe. As discussed earlier, in regard to repairs, predictive maintenance is capable of generating considerable cost reductions, with the cost of repairs estimated to decrease by 12%, thus lowering the cost of planned repair by 30%.
Augmented Reality (AR)
AR has already reached the right maturity level to be used in a production environment like smart factories. Proven to increase people and process performances by up to 50%, augmented reality significantly decreases costs emerging from human error or inefficiency. A few of the application areas for AR in Industry 4.0 include Operations, Maintenance & Remote Assistance, Training, Quality Control as well as Safety Management.
Meet Some of the Disruptive Industry 4.0 Startups
- Israeli startup Augury allows “machines to talk”. By “listening” to machines the startup anticipates malfunction or failure and currently further develops the machine diagnostics backend of the Internet of Things (IoT).
- Waylay masterminds an intelligent SaaS decision-making platform. The Belgian startup generates a compact logic for easy maintenance – dynamic processes in the cloud, for the cloud.
- Belgian startup Oqton offers software solutions that streamline additive manufacturing processes, featuring automated process optimization and real-time production monitoring, catering to both industrial and medical applications.
- ai-omatic solutions, a German startup, creates cloud-based software for predictive maintenance. Using AI and statistical models, it analyzes sensor data from machines to detect anomalies, predict failures, and identify root causes. The software offers real-time health status updates and alerts on potential issues, reducing maintenance costs and optimizing resource use.
Explore Emerging Industry 4.0 Startups & Technologies
While these six are the key innovation areas in Industry 4.0, they are far from being the only ones. Robotics, Simulation, Industrial IoT Platforms (IIoT), and Artificial Intelligence alike have an immense influence and shape the future of factories. All of these emerging technologies progress at a rapid level, offering early movers willing to co-innovate with emerging startups the opportunity to gain a competitive advantage.
