Understanding the Challenges and Opportunities of Industry 4.0-A Budge towards Sustainability

Abstract

The Fourth Industrial Revolution involves noteworthy challenges and scopes to organizations from the technological, industrial and organizational perspective. This review intends to scrutinize how organizations recognize the idea of Industry 4.0, the challenges in launching the smart technologies and the opportunities to Industry 4.0. Researchers argued that sometimes these challenges, as well as opportunities are very crucial to recognize. Hence, the challenges and opportunities should be identified properly, evaluated accurately and then should be implemented accordingly. With the intention of understanding the dimensions of barriers and scopes of Industry 4.0 as a disruptive technological issue and to contribute the extant literature, a planned review method was employed to gather the literature. The originality of the study is to be conceptual in nature as it is a review paper, but future empirical research is suggested. Additionally, future research implications offered in the study would be supportive for the researchers intending to perform research in this domain and to summarize the challenges and success factors of Industry 4.0.