ABSTRACT. This article presents an empirical study carried out to evaluate and analyze real-time process monitoring in Industry 4.0 manufacturing systems. Building our argument by drawing on data collected from Accenture, BBC, BDO, Capgemini, McKinsey, and PwC, we performed analyses and made estimates regarding progress in the last year in implementing Industry 4.0 applications/strategies (%), digital intensity parameters (%), data monetization strategies (%), and current level of process integration (%). Data collected from 4,700 respondents are tested against the research model by using structural equation modeling.
JEL codes: E24; J21; J54; J64
Keywords: Industry 4.0; manufacturing system; real-time process monitoring
How to cite: Gray-Hawkins, Malcolm, Lucia Michalkova, Petr Suler, and Natalia A. Zhuravleva (2019). “Real-Time Process Monitoring in Industry 4.0 Manufacturing Systems: Sensing, Smart, and Sustainable Technologies,” Economics, Management, and Financial Markets 14(4): 30–36. doi:10.22381/EMFM14420194
Received 6 August 2019 • Received in revised form 10 December 2019
Accepted 12 December 2019 • Available online 15 December 2019