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Industry 4.0: The Latest in the Tech Revolution

July 15, 2015

The latest buzzword for the tech-driven revolution that's currently underway: Industry 4.0.

Whereas Industry 3.0 was automated manufacturing, Industry 2.0 the rise of electricity, and Industry 1.0 the adoption of steam power, Industry 4.0 refers to the integration of sensors into factories. 

Consulting firm McKinsey says manufacturing will evolve to rely on in-factory sensors, increased use of analytics and data science, in-factory use of augmented reality like Google Glass®, and increased use of 3D printing for the mass market.

40-50%: The percentage of equipment in factories that will have to be replaced over the next decade in order to adapt to advances in technology, according to a report from McKinsey.

An estimated 40–48% of new nonresidential construction this year will be green, equating to a $120–145 billion opportunity for developers and property owners who maintain such practices.