Initiatives such as Germany's Industrie 4.0, Netherland's Smart Industry, Australia's Industry 4.0 Testlabs, Italy's Intelligent Factories, and Austria's Plattform Industrie 4.0 have laid the groundwork for the rise of smart manufacturing, giving birth to some of the finest smart factories across the globe.
Whirlpool, Siemens, Hirotec, Hewlett-Packard, and Ocado are some of the earliest smart factory builders in the world, currently focused on reshaping processes with new innovations. Manufacturers who have adopted this new invention in recently have witnessed a major increase in production output, factory capacity utilization, and labor productivity.
In light of these advantages, in December 2022, Schneider Electric announced plans to invest INR 425 crore to build a new smart factory in Bangalore. Companies such as Invisible AI and Worximity have infused significant funds to enhance their provision of intelligent manufacturing capabilities.
Industry 4.0, IoT, big data analytics, AI, advanced robotics, 3D printing, and cloud computing have opened the door to the fascinating world of smart factories, and the world is quite happy with what it has achieved!