Industry 4.0—Awareness in South India

Leos Safar, Jakub Sopko (), Darya Dancakova and Manuel Woschank
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Leos Safar: Department of Banking and Investment, Faculty of Economics, Technical University of Košice, Nemcovej 32, 04001 Košice, Slovakia
Darya Dancakova: Department of Banking and Investment, Faculty of Economics, Technical University of Košice, Nemcovej 32, 04001 Košice, Slovakia
Manuel Woschank: Montanuniversitaet Leoben, Erzherzog-Johann-Strasse 3/1, 8700 Leoben, Austria

Sustainability, 2020, vol. 12, issue 8, 1-18

Abstract: Industry 4.0 (I4.0) approaches, frameworks, and technologies have gained an increasing relevance in order to gain sustainable and competitive advantages for industrial enterprises and for small and medium enterprises (SMEs), as well. Contrary to previous studies, which are mainly focused on companies, we conducted a questionnaire-based survey on inhabitants, in an attempt to examine general awareness about I4.0 concepts, in the region of South India. Our findings revealed a rather poor informational level of I4.0 concept and its components, which consequently leads to inadequate future actions and expectations. Moreover, respondents with prior information about I4.0 framework tend to have rather positive opinions and expectations of possible future trends. We emphasize that insufficient knowledge of the potential workforce regarding I4.0 concepts, especially in a region with ascending demographic development, can be considered as one of the main barriers for a successful and sustainable future development towards the 4th industrial revolution.

Keywords: Industry 4.0; Internet of Things; India; SMEs; awareness (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
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