A study of trends and industrial prospects of Industry 4.0

Innovation is more sophisticated than ever. Companies will now develop internal solutions and technologies that were impossible to think of years back. These other developments may have been slow in the manufacturing sectors, although the fourth technological revolution cannot be ignored by their management, in the Manufacturing sector of Industries, the latest period has multiple opportunities and challenges. Production is diversified and it is impossible for all sectors to update and improve. The path to growth is technological innovation, knowledge progress and advancement in management. The potential areas of innovations in the industry for industrial growth identified by industry 4.0, the fourth industrial revolution. Researchers also spent over a year laying down the ground rules and an industry framework for building out Industry 4.0, including strategic concepts and processes. Industry 4.0 has become one of the world's most emerging area for academicians and policymakers. The advantages and drawbacks of Industry 4.0 are crucial as they allow companies to focus critical decisions on their deployment. This paper presents important aspects of industry 4.0 in connection with history, advantages, and challenges. (c) 2021 Elsevier Ltd. All rights reserved. Selection and peer-review under responsibility of the scientific committee of the Symposium on Synthesis, Characterization 2021.