According to an analysis by the McKinsey Global Institute , the installed base for the roughly US $ 50 billion advanced robotics industry used in the manufacturing industry is expected to grow six per cent per year for the next three years as companies are taking advantage of smarter , more flexible and cost-effective equipment to automate more of their activities . By 2030 , Industry 4.0 applications are expected to account for almost half the total sales of 5G-connected IoT devices .
“ The old image of manufacturing — which was around factories that were greasy and dirty — doesn ’ t exist anymore ,” says Asutosh Padhi , Managing Partner for McKinsey in North America . “ You walk into one of these companies and the places look clean , the machines are new , the people are working together in teams , the place is inviting . You get the sense that there is something happening that is much more modern and oriented around precision manufacturing , whether it ’ s using new materials , new technologies , or different types of equipment .
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