GIL 2014: Europe to focus on future of factories

During a session entitled 360 Degree industry perspectives Frost& Sullivan’s Practice Director Industrial Automation & Process Control and Measurement & Instrumentation Muthukumar Viswanathan will share the results of a comprehensive research on the Industry 4.0: The Dawn of the Future Factory.“Understanding the idea of Industry 4.0 and mapping its relevance across specific contexts will be an inevitable necessity for companies in the future. In this ongoing transformation, the cross-pollination of ideas, technologies and processes, between multiple industries will result in the emergence of a number of new markets with high potential,” notes Mr Viswanathan.

History showed that the first industrial revolution began with the introduction of mechanised production driven by water and steam power in the 19^th century. The second industrial revolution followed with the trend of mass production enabled by division of labour and the use of electrical energy. The third industrial revolution was based on the use of electronics and IT to further automate production. And the next phase is Industry 4.0 as a new and fundamentally different approach which set to revolutionize the industrial scene. The key facets of Industry 4.0, viz., Internet of things, Internet of services, big data and Integrated industry, will leave a decisive impact across all sections of the manufacturing value chain.

“Innovation in services will be the first step towards achieving this futuristic vision. But the larger question that needs clarity is on the nature of service evolution”- adds Mr. Viswanathan. “Internet of services is one of the component of Industry 4.0 that describes the future of services on a device-independent and device-dependent service models. The projection of this trend onto specific products in the industrial space, will lead us to identify a number of new service opportunities that bear immense significance to industrial product suppliers”.

GIL 2014: Europe highlights will include: The New Mega Trends - Macro to Micro Opportunities for Future Business, Cultures, and Personal Lives by Partner Sarwant Singh; Global Smart City Market – A $1.5 Trillion Market Opportunity by 2020, Industry Convergence Trends and Workshop, Exploring the Vortex of Innovation Driving New Concepts, Products and Services, and the 2014 Frost & Sullivan Growth Excellence Awards Banquet.

Frost & Sullivan will also present its multi Award-winning consultative sales and management development programme, Helix that enabled a major European company to deliver an 18.5 percent increase in gross margin through a re-energised sales force focused on selling value.  This annual one-day congress is part of Frost & Sullivan's exclusive GIL community that represents a worldwide network of over 5,000 senior executives.