The term “fourth industrial revolution” is used as a framework for analyzing the influence of coming technologies on the full range of societal impact on the current generation, evolving cultural laws, governmental view, economical growth, and foreign affairs. The fourth industrial revolution idea confirms that technological change is the engine of change in relevant sectors and elements of society. It underscores the theme that many technologies have emerged at some point in history that has been combined in ways that have had an impact on incremental efficiency gains. This chapter introduces how this new revolution has brought great opportunities; the core potential of this industrial revolution is to increase manufacturing output globally to meet social needs and to enhance the capacity across all the different current systems. The chapter focuses on various novel techniques that sustain this ultra-modern era and delineates the influence, prospects, desires, and acclimation of Industry 4.0 from the social viewpoint.
TopIntroduction
The 21st century, marked by a knowledge explosion, has witnessed a surge in various trends, technology, and Innovations that are rapidly evolving Industry incubators that plan to grow budding ideas. “Manufacturing intelligentization and digitalization” is the core technology of the new industrial revolution (Vaidya, S., Ambad, P., & Bhosle, S, 2018). To increase productivity, so many industries are putting effort into the customization of production. The advancement from industry 1.0 to industry 4.0 implies a complete transition in the industrial epoch as shown in Figure 1.
Industry 4.0 revolution, popularly known as the 'fourth industrial revolution, is a novel trend of smart automation in the industry that brings complete administration of product's life cycle. Industry 4.0 includes various technologies like the Industrial Internet, Internet of Things, Smart Manufacturing, and Cloud-based Manufacturing. In Industry 4.0, the entire globe has faced a series of novel technologies linking the physical and virtual worlds. Adaption of modern techniques and tools results in improving production efficiency and revolutionizing the way the entire organization works and grows. The technologies enabling this revolution grip existing data and extensive supplementary data sources, containing data from associated assets, to enhance efficiency at multiple levels, convertcurrentproduction processes, create conclude information flows along the value chain, and generatecontemporary services and business prototypes. It is worthwhile to glance at the prior industry revolutions to appreciate the significance of Industry 4.0.
Figure 1. Advancement from industry 1.0 to 4.0
Industry 1.0
The use of 'Water and steam-powered machines' started in the 18th century to help employee’s mass production of goods, as shown in Figure 1. Way back in 1784, the weaving loom was pioneered. While increasing the production capabilities, the business also grew from small-scale businesses to large-scale business organizations (Meindl et al., 2021). Industry 1.0 can also be considered the foundation of the industry culture that is attentive to equality on efficiency, quality, and scale (Vuksanović et al, 2016).
Industry 2.0
Industry 2.0 started with the 20th century itself, discovering assembly line production (Iyer, 2018). he primary giver in Industry 2.0 was the implementation of 'electrical machines'. Compared to the water and steam-based machines, electrical machines were more effective to operate and maintain from the point of effort and cost. Optimum allocation of resources, working protocols, and jobs enhancement of worker introduced in [(Meindl et al., 2021).
Industry 3.0
The 1990s and 2000s marked the next industrial revolution, with the invention and manufacture of semiconductor devices, including transistors and integrated circuits. By using electronic devices, automated machines are built, resulting in reduced efforts, greater accuracy, increased speed, and replacement of human resources in a few situations. In this phase, software development exploited on an electronic device is produced.
It is an automated, integrated system where enterprise resources planning tools were used for material requirements planning, execution of plans, time management, and monitoring the product cycle.