Industrial leaders are digitizing essential functions within their internal vertical operations processes, as well as with their horizontal partners along the value chain. In addition, they are enhancing their product portfolio with digital functionalities and introducing innovative, data-based services. The 2,000+ companies that we surveyed are expecting to dramatically increase their overall level of digitization. While just 33% rate their company as advanced today, that number jumps to over 70% looking ahead to 2020.
While terms like the industrial internet or digital factory are also used to describe these changes, in this report we use Industry 4.0 as a shorthand to describe a journey industrial companies are taking towards a complete value chain transformation (see What we mean by Industry 4.0).
