The term "Industry 4.0" refers to the fourth industrial revolution. The first industrial revolution was the production of goods with machines like steam engines, which was followed by the second industrial revolution that introduced mass production with the help of electric power, followed by the digital revolution --the use of electronics and IT in production. Industry 4.0 is a high-tech project, which promotes the computerization of manufacturing  . The basic principle of Industry 4.0 is that by connecting machines, work pieces and systems, we are creating intelligent networks along the entire value chain that can control each other automatically. The goal is the Smart Factory, which adapts well and uses resources efficiently as well as linking customers and business partners with great intelligence. Technological basis are the Internet systems and advanced factories. Experts believe that Industry 4.0 could be a reality in about 10 to 20 years. So, what effects does this change have on the classic manufacturing? According to an expert, "it is highly likely that the world of production will become more and more networked until everything is connected with everything else." Networks and processes have so far been limited to one factory. But in the time of Industry 4.0, the boundaries   of individual factories will most likely no longer exist. Instead, they will be lifted in order to inter-connect multiple factories or even geographical regions. How is an Industry 4.0 factory different from a today's factory? In current industry environment, providing high-end quality service or product with the least cost is the key to success. Factories are trying to increase their profit as much as possible. In the time of Industry 4.0, various data sources are available to provide worthwhile information about different aspects of the factory. Using data for understanding the current condition and checking faults and failures is a natural thing. _ will enable these connected systems to manage themselves independently, work more efficiently and identify any errors quickly. The good news is that Europe is much better prepared for the Industry 4.0 revolution than one might think. Europe will position itself as a pioneer in the fourth revolution. Industry 4.0 is a project in the high-tech strategy of the German government. Meanwhile, in the U.S., some companies are also working hard on it. But the success of industry depends on whether business and politics can work together. It's not only politics that needs to help open the door for Industry 4.0. Every company is advised to seize the new digital opportunities. Industry 4.0 will probably result in   _   in the world of manufacturing.
production limited to an individual factory everything connected with everything else networks and processes no longer existing classic factories stopping their competition