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2025
Journal Article
Title
Success Factors for Value Creation in Industry 4.0 - a Comparison of two Field Studies in German Tool Machine Manufacturers and Start-Ups
Abstract
When the term Industry 4.0 was coined more than ten years ago, the anticipated economic growth for this new industrial sector was tremendous. In the meantime, original equipment manufacturers (OEMs) and start-ups have entered the market with new digital, data-driven products and services. This contribution thus researches success factors for value creation in Industry 4.0 by presenting and comparing two market studies: The first one investigates established original equipment manufacturers (OEMs) and their strategies for integrating digital, data-driven products and services. The second study explores start-ups within Industry 4.0. Despite the potential, only a small fraction of OEMs have successfully implemented such strategies, relying on customer-driven innovation, agile operations, mixed teams, and external partnerships. Start-ups in Industry 4.0 are of high-risk, software-heavy nature and rely significantly on venture capital and state subsidies. Start-ups also exhibit higher educational levels among founders compared to traditional start-ups. The findings underscore the need for OEMs to adopt new agile, customer-centric approaches and for further research on integrating agile and classical management methods, especially for SMEs. The work concludes recommending to enhance the academic training of mechanical engineers to include new organizational and managerial topics to ensure employability in the evolving Industry 4.0 landscape.
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