With Industry 4.0 new potential possibilities arise for European enterprises; accordingly they should utilize these possibilities to develop new business models to successfully maintain their position in the world market. If European industries do not use this potential, other companies will, ultimately undermining the European businesses by providing new solutions. Europe´s industry is currently at a crossroads: Industry 4.0 is not a question of “if?” but of “when?” and “who?”
Many SME’s don´t have the engineering, IT and development resources required to cover all aspects of Industry 4.0. For example many owners of medium-sized companies openly admit that they have no experience with application programming. Central European enterprises could achieve a lot with a new way of thinking, rather than trying to reinvent the wheel by modifying existing strategies.
American and Chinese companies are much more flexible in this regard, they combine technologies from different service providers and companies to develop a new application, resulting in disruptive business models.