Industry 4.0: An Introduction to the Future of Manufacturing in Australia

Abstract

Over the last few years, the fourth industrial revolution has captured attention both in the academic and industrial realms. The world is still developing an understanding of this new industrial revolution and how the digitisation of the manufacturing process enables a paradigm shift from mass production to customized production.This paper provides a concise introduction to some of the more popular components of Industry 4.0. It also provides an insight into the current support infrastructure for accelerating Industry 4.0 adoption in Australia, along with a perspective of the progress of the Australian manufacturing industry.The Australian manufacturing industry has been in decline for decades and currently represents around 6% of GDP. This is a concern as manufacturing helps raise the standard of living more than any other sector and is often considered to have the largest multiplier effect of all sectors in an economy. Digitisation (and Industry 4.0 technologies) are key components of the Australian Government’s modern manufacturing strategy.