Industry 4.0 and digital transformation bring with them smart factories and smart manufacturing units, which are fully integrated, collaborative manufacturing systems capable of adapting to supplier and customer needs in real time. The latest technologies in Internet of Things (IoT), cloud computing, data analytics and artificial intelligence are forming an integral part of this digital-driven industry. But how important is digital transformation to the manufacturing industry?
According to a recent PWC survey, 72 percent of manufacturers are increasing their digitization efforts, investing $907 billion per year – roughly 5 percent of revenue – toward smart factories and connectivity.
Ilika plc (LON:IKA) is a pioneer in materials innovation and has been inventing new materials for energy and electronics applications for over a decade. Global brands such as Rolls Royce and Toyota have long term collaborations with Ilika’s development teams.