New Business Model Opportunities based on Industry 4.0 Technologies

The ability to innovate and speed in the implementation are core competencies that ensure the future of our society's prosperity through real and sustained value creation. The topic Industry 4.0 and its potential this context are interesting for the industry, as well as research and advisory. On the one hand the intelligent networking and interaction of mechanical, electrical and information technology opens up new possibilities for optimization in terms of productivity increase of entire value chains. There are already numerous implementations in different companies, large ongoing research initiatives across all participating industry sectors, as well as numerous events, which deal with the application potential of the industry 4.0 philosophy. On the other hand, however, digitalization also opens up possibilities of radical innovations, such companies offer their products under the framework of Industry 4.0 and which additional customer benefits they can offer characterized by value-added services across the product lifecycle. Even a change of industry structures is possible through the digitization of products and its own business, as this has already occurred, for example, in bookstores or telecommunications. The following documents shed light on the implications, opportunities and risks precisely this, yet little-noticed development in the mechanical and plant engineering.