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ABSTRACT. We inspect the relevant literature on sensing, smart, and sustainable technologies in Industry 4.0, providing both quantitative evidence on trends and numerous in-depth empirical examples. Building our argument by drawing on data collected from Ad Hoc Research, BDO, DAA, Deloitte, eMarketer, IoT Analytics GmbH, Management Events, and McKinsey, we performed analyses and made estimates regarding challenges of implementing artificial intelligence (%), top barriers encountered by manufacturers in Industry 4.0 (%), the biggest benefits of industrial data analytics for organizations (%), and top five Industry 4.0 applications with progress achieved (%). Data collected from 4,600 respondents are tested against the research model by using structural equation modeling.
JEL codes: E24; J21; J54; J64

Keywords: cyber-physical network; Industry 4.0; digitized mass production

How to cite: Milward, Rosalie, Gheorghe H. Popescu, Katarina Frajtova Michalikova, Zdenka Musova, and Veronika Machova (2019). “Sensing, Smart, and Sustainable Technologies in Industry 4.0: Cyber-Physical Networks, Machine Data Capturing Systems, and Digitized Mass Production,” Economics, Management, and Financial Markets 14(3): 37–43. doi:10.22381/EMFM14320195

Received 19 March 2019 • Received in revised form 12 August 2019
Accepted 20 August 2019 • Available online 10 September 2019

Rosalie Milward
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The Center for Labor Research and Education
at AAER, Chicago, IL, USA
Gheorghe H. Popescu
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The Center for Applied Macroeconomic Analysis
at AAER, New York City, NY, USA;
Dimitrie Cantemir Christian University, Bucharest, Romania
Katarina Frajtova Michalikova
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Faculty of Operation and Economics
of Transport and Communications,
Department of Economics,
University of Zilina, Zilina, Slovak Republic
Zdenka Musova
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Faculty of Economics,
Matej Bel University, Banska Bystrica, Slovak Republic
Veronika Machova
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The School of Expertness and Valuation,
The Institute of Technology and Business
in Ceske Budejovice, Czech Republic

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