International Journal of Commerce and Finance (May 2018)

How Industry 4.0 Changes Business : A Commercial Perspective

  • Ayşe Göksu Özüdoğru,
  • Esra Ergün,
  • Djihane Ammari,
  • Ali Görener

Journal volume & issue
Vol. 4, no. 1
pp. 84 – 95

Abstract

Read online

Industry is the part of an economy that manufacture components and goods which are highly automatized. This paper presents a general understanding about the Fourth Industry Revolution- Industry 4.0 approach from a commercial point of view. Firstly, the history of Industrial Revolution is explained and the roadmap to Industry 4.0 is shown. Industry components and the main understanding of Industry 4.0 is explained through the previous studies. Secondly, the most common usage, implementation areas and the challenging points are demonstrated. Commercial and industrial application examples of Industry 4.0 in different sectors and the possible implementation areas are defined based on countries and sectors. Finally, the commercial impacts of this new business model is given from the industrial and human perspectives.