Business model innovation for Industry 4.0 agenda

Abstract

The manufacturing industry is currently within the fourth industrial revolution. The term “Industry 4.0” refers to the automation and digitisation of the manufacturing industry with new technologies emerging. The UK infrastructure sector currently have many projects on going, upgrading existing assets and constructing new assets. Despite being in the fourth industrial revolution, the infrastructure sector is finding it difficult to adopt and implement industry 4.0 agenda as there is no direct guide or standards available for implementation, in addition organisations within the sector do not understand the requirements and competency level. This paper aims to outline the need for business model innovation within the sector to enable the adoption and implementation of industry 4.0 agenda. This study takes a case study approach and semi-structured interviews were undertaken from experts in the infrastructure sector to analyse the need for Business model innovations within the sector.