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ABSTRACT. This article presents an empirical study carried out to evaluate and analyze real-time process monitoring in Industry 4.0 manufacturing systems. Building our argument by drawing on data collected from Accenture, BBC, BDO, Capgemini, McKinsey, and PwC, we performed analyses and made estimates regarding progress in the last year in implementing Industry 4.0 applications/strategies (%), digital intensity parameters (%), data monetization strategies (%), and current level of process integration (%). Data collected from 4,700 respondents are tested against the research model by using structural equation modeling.
JEL codes: E24; J21; J54; J64

Keywords: Industry 4.0; manufacturing system; real-time process monitoring

How to cite: Gray-Hawkins, Malcolm, Lucia Michalkova, Petr Suler, and Natalia A. Zhuravleva (2019). “Real-Time Process Monitoring in Industry 4.0 Manufacturing Systems: Sensing, Smart, and Sustainable Technologies,” Economics, Management, and Financial Markets 14(4): 30–36. doi:10.22381/EMFM14420194

Received 6 August 2019 • Received in revised form 10 December 2019
Accepted 12 December 2019 • Available online 15 December 2019

Malcolm Gray-Hawkins
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The Internet-enabled Collective Intelligence Laboratory
at ISBDA, Glasgow, Scotland
(corresponding author)
Lucia Michalkova
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Faculty of Operation and Economics
of Transport and Communications,
Department of Economics,
University of Zilina, Zilina, Slovak Republic
Petr Suler
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The School of Expertness and Valuation,
The Institute of Technology and Business
in Ceske Budejovice, Czech Republic
Natalia A. Zhuravleva
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Faculty of Economics and Management,
Department of Transport Economics,
Emperor Alexander I St. Petersburg
State Transport University, St. Petersburg, Russia

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