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In terms of global meaning, the Industry 4.0 concept is widely accepted as representing the digitalization of manufacturing. The ‘4.0’ provides a historical context, positioning this new phase as the fourth transformation in production. The first industrial revolution was depicted by mechanization through water and steam power the second saw the concept of mass production through electric power and the third resulted in the rise of the computer and automation. Now we have the fourth breakup in manufacturing – the creation of truly smart factories with cyber-physical systems and communication across the Internet of Things.


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