For Singapore firms, getting onboard Industry 4.0 is crucial

Singapore

MOST Singapore manufacturers are not even at Industry 3.0, and market observers say they will need a leg-up to mount Industry 4.0 as they grow and internationalise.

Wu Hongyi, centre director for Europe at IE Singapore, told The Business Times: "Most of them are at Industry 2.5, (held back by) concerns like high capital investments and applicability."

He said this could hurt the long-term competitiveness and relevance of Singapore's over 2,000 manufacturers.

While Industry 1.0 entailed the use of the steam engine, 2.0 saw the use of electricity and assembly lines, and 3.0 the deployment of robots for automation.

Known as the fourth and latest industrial revolution, Industry 4.0 is the digitisation of the entire manufacturing process. It features cyber-physical streams and the Internet …