Industry 4.0: Building the digital enterprise by PWC

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PwC’s 2016 Global Industry 4.0 Survey is the biggest worldwide survey of its kind, with over 2,000 participants from nine major industrial sectors and 26 countries. The study explores the benefits of digitising your company’s horizontal and vertical value chains, as well as building your digital product & service portfolio. Based on the findings and our experience working with first movers, we’ve also crafted a blueprint for success to help you secure your company’s position as a leading digital enterprise in tomorrow’s complex industrial ecosystems
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Digit company Industry data data analytic custom product digitise integral Survey service pwc invest Digit enterprise year capability Global Industry Industry company expect level operate
http://www.techcelerate.ventures
Your Cheif Investment Officer for raising Series A investment in the UK
About Techcelerate Ventures

Tech Investment and Growth Advisory for Series A in the UK, operating in £150k to £5m investment market, working with #SaaS #FinTech #HealthTech #MarketPlaces and #PropTech companies.
Digit company Industry data data analytic custom product digitise integral Survey service pwc invest Digit enterprise year capability Global Industry Industry company expect level operate
2016 Global Industry 4.0 Survey 
What we mean by Industry 4.0 / Survey key findings / Blueprint for digital success
www.pwc.com/industry40
Industry 4.0: Building 
the digital enterprise
2000+
respondents in 26 countries
US$493 bn 
in digital revenue gains p.a.
US$421 bn 
p.a. in cost and efficiency gains
US$907 bn   
in annual digital investments 
2
2016 Global Industry 4.0 Survey
Contents
04
06 
What we mean by Industry 4.0
Introduction
26
27 
Map out your Industry 4.0 strategy
29 
Create initial pilot projects
30 
Define the capabilities you need
31 
Become a data virtuoso
31 
Transform into a digital enterprise
32 
Actively plan an ecosystem approach
Blueprint for digital  
success
07
08 
Key findings from our survey research
10 
Blueprint for digital success
Executive summary
11
11 
Industry 4.0 - from talk to action
13 
Digitisation drives quantum leaps in performance
15 
Deepen digital relationships with more empowered 
customers
17 
Focus on people and culture to drive transformation
18 
Data analytics and digital trust are the foundation of 
Industry 4.0
21 
Robust, enterprise-wide data analytics capabilities 
require significant change
22 
Accelerating globalisation, but with distinct regional 
flavours
24 
Big investments with big impact: it's time to commit
Key findings from our survey 
research
33 
About the survey
34 
Contacts and acknowledgements
3
Building the digital enterprise
Global Industry 4.0 Survey: Building the digital enterprise 
PwC's 2016 Global Industry 
4.0 Survey is the biggest 
worldwide survey of its kind, 
with over 2,000 participants 
from nine major industrial 
sectors and 26 countries. The 
study explores the benefits 
of digitising your company's 
horizontal and vertical value 
chains, as well as building 
your digital product & service 
portfolio. Based on the 
findings and our experience 
working with first movers, 
we've also crafted a blueprint 
for success to help you secure 
your company's position as 
a leading digital enterprise 
in tomorrow's complex 
industrial ecosystems.
Industry
split
21%
19%
11%
10%
4%
9%
9%
8%
8%
2% Aerospace, defence & security
Industrial 
manufacturing
Engineering & 
construction
Chemicals
Electronics
Transportation 
& logistics
Automotive
Other
Metals
Forest, paper & packaging
Canada
USA
Sweden
Netherlands
UK
Austria
Finland
India
China
Japan
Denmark
Poland
Mexico
Brazil
France
Portugal
Switzerland
Middle East
Singapore
Australia
Germany
Italy
South Africa
Spain
Industry split of survey respondents
Participating countries
4
Global Industry 4.o Survey
Behind the scenes of the world's leading industrial and 
manufacturing companies, a profound digital transformation 
is now underway. 
Industrial leaders are digitising 
essential functions within their internal 
vertical operations processes, as well 
as with their horizontal partners along 
the value chain. In addition, they are 
enhancing their product portfolio with 
digital functionalities and introducing 
innovative, data-based services. The 
2,000+ companies that we surveyed are 
expecting to dramatically increase their 
overall level of digitisation. While just 
33% rate their company as advanced 
today, that number jumps to over 70% 
looking ahead to 2020. 
While terms like the industrial internet 
or digital factory are also used to 
describe these changes, in this report 
we use Industry 4.0 as a shorthand to 
describe a journey industrial companies 
are taking towards a complete value 
chain transformation (see What we mean 
by Industry 4.0). 
At the end of this transformation 
process, successful industrial companies 
will become true digital enterprises, 
with physical products at the core, 
augmented by digital interfaces and 
data-based, innovative services. These 
digital enterprises will work together 
with customers and suppliers in 
industrial digital ecosystems. 
These developments will fundamentally 
change individual companies, as well 
as transform market dynamics across 
a whole range of industries. And that's 
true in countries all around the world 
 in both the developed as well as the 
emerging markets. Here's what's driving 
change:
 Annual digital revenue 
increases of 2.9% on average 
 and a significant minority that 
expect total increases of more than 
50% over five years. That adds up 
to US$493 bn in increased annual 
revenues for the next five years 
across the industrial sectors we 
surveyed.
 Cost reductions of 3.6% p.a. 
on average. Digital technologies 
enable shorter operational lead 
times, higher asset utilisation and 
maximum product quality; all told, 
our survey respondents expect to 
save US$421 bn in costs each year 
for the next five years. 
Introduction
5
Building the digital enterprise
 Incremental and revolutionary 
product & service innovation 
To generate these additional 
revenues, companies will introduce 
new industrial products with digital 
features and augment their existing 
portfolio. Digital services based on 
data analytics, or even complete 
digital solutions serving a customer 
ecosystem, will drive breakthrough 
revenue growth.
 A strong commitment to invest 
Industrial sectors are planning to 
commit US$907 bn p.a. to Industry 
4.0  around 5% of revenue p.a. 
A major focus of these investments 
will be on digital technologies like 
sensors or connectivity devices, and 
on software and applications like 
manufacturing execution systems. 
In addition, companies are investing 
in training employees and driving 
required organisational change. 55% 
of the investments expect a payback 
within two years.   
To keep up, you'll need to transform 
your business.
Focus on people and digital 
transformation  
The biggest challenge of industrial 
leaders isn't technology - it is the 
people. While digital technologies are 
rapidly becoming a commodity, success 
largely depends on an organisation's 
Digital IQ1, especially how well its 
digital leaders like the CEO, CTO, or 
CIO define, lead, and communicate 
the transformation. It's also dependent 
upon the digital qualifications of 
the employees who need to roll out 
digital processes and services. Radical 
disruption isn't always comfortable 
for the people who make it happen, 
so change management will also 
be critical. And with data analytics 
becoming a core capability for every 
industrial company, enhancing skills 
and organisational structures will be 
critical.
Digital trust is key  
With so much change in store, there's 
one area that companies can't afford to 
ignore: digital trust. Digital ecosystems 
can only function efficiently if all 
parties involved can trust in the security 
of their data and communication, 
as well as the protection of their 
intellectual property. Protecting your 
company and ensuring digital trust 
requires significant investment and 
clear guidelines for data integrity and 
security.
The key findings we explore in the 
first half of this report confirm that no 
industrial company can afford to ignore 
the fundamental changes that Industry 
4.0 will bring. The second half provides 
a pragmatic, step-by-step blueprint 
for how industrial companies can 
successfully build a digital enterprise.
Please reach out to us for more details 
on our research or to discuss our 
approaches. The digital transformation 
is underway: now is the time for your 
company to act! 
Dr. Reinhard Geissbauer
Head of EMEA Industry 4.0  
Digital Operations Team
+49 170 939 1263
reinhard.geissbauer@
strategyand.de.pwc.com
Jesper Vedso
Global Industrial Products 
Leadership Team Member  
+45 3945 9144 
jrv@pwc.dk 
Stefan Schrauf
Head of PwC Strategy& Industry 4.0  
Team for Germany
+49 895 790 5317
stefan.schrauf@strategyand.de.pwc.com
1  PwC, 2015 Global Digital IQ Survey, September 2015.
6
2016 Global Industry 4.0 Survey
What we mean by  
Industry 4.0 
In this report, the term 'Industry 
4.0' stands for the fourth industrial 
revolution. Other related terms include 
the 'Industrial Internet' or the 'Digital 
Factory', although neither takes as 
complete a view. While Industry 3.0 
focused on the automation of single 
machines and processes, Industry 4.0 
focuses on the end-to-end digitisation 
of all physical assets and integration 
into digital ecosystems with value 
chain partners. Generating, analysing 
and communicating data seamlessly 
underpins the gains promised by 
Industry 4.0, which networks a wide 
range of new technologies to create 
value.  
While the term Industry 4.0 is 
becoming increasingly familiar, we use 
it in a specific way in this report. In our 
view, Industry 4.0 is driven by:
1) Digitisation and integration 
of vertical and horizontal value 
chains
Industry 4.0 digitises and integrates 
processes vertically across the 
entire organisation, from product 
development and purchasing, through 
manufacturing, logistics and service. 
All data about operations processes, 
process efficiency and quality 
management, as well as operations 
planning are available real-time, 
supported by augmented reality and 
optimised in an integrated network.
Horizontal integration stretches beyond 
the internal operations from suppliers 
to customers and all key value chain 
partners. It includes technologies from 
track and trace devices to real-time 
integrated planning with execution.
2) Digitisation of product and 
service offerings
Digitisation of products includes the 
expansion of existing products, e.g. by 
adding smart sensors or communication 
devices that can be used with data 
analytics tools, as well as the creation 
of new digitised products which focus 
on completely integrated solutions. 
By integrating new methods of data 
collection and analysis, companies 
are able to generate data on product 
use and refine products to meet the 
increasing needs of end-customers. 
3) Digital business models and 
customer access
Leading industrial companies also 
expand their offering by providing 
disruptive digital solutions such 
as complete, data-driven services 
and integrated platform solutions. 
Disruptive digital business models are 
often focused on generating additional 
digital revenues and optimising 
customer interaction and access. Digital 
products and services frequently look to 
serve customers with complete solutions 
in a distinct digital ecosystem. 
Mobile devices
IoT platforms 
Location detection 
technologies
Advanced human-machine 
interfaces
Authentication & 
fraud detection
3D printing
Smart sensors
Big data analytics 
and advanced 
algorithms
Multilevel customer 
interaction and 
customer profiling
Augmented 
reality/wearables
Cloud computing
Industry
4.0
Data 
& A
naly
tics as core capabilityData & Analytics as core
 ca
pa
bil
ity1. D
igit
isati
on and integrationof ve
rtic
al and horizontalvalu
e chains
3. D
igital businessmode
ls a
nd
 customer access2. Digitisation of
product and service offerings
Industry 4.0 framework and contributing digital technologies

7
Building the digital enterprise
Executive summary
With over 2,000 participants from 
companies in nine major industrial 
sectors and 26 countries, it goes to 
the heart of company thinking on the 
progress towards transforming into a 
digital enterprise. 
We've distilled the results of our 
research into eight distinct key 
findings. The first half  of our report 
explores each finding in more detail. 
Based on the findings and our 
experience working with some first 
movers, we've also crafted a blueprint 
for implementation success. In the 
second half, we detail six steps to help 
companies move from initial strategy 
all the way to taking a leading role in 
tomorrow's digital ecosystems.
PwC's 2016 Global Industry 4.0 Survey of industrial 
companies is the biggest survey of its kind studying  
Industry 4.0 to date. 
Key findings from our survey research
From talk
to action
Data analytics
and digital
trust are the
foundation of
Industry 4.0
Focus on
people and
culture to drive
transformation
Digitisation
drives quantum 
leaps in
performance
Deepen digital
relationships with
more empowered
customers
Robust, 
enterprise-wide
data analytics
capabilities require 
significant
change
Industry 4.0
is accelerating 
globalisation, but
with a distinctly
regional
flavour
Big 
investments 
with big impacts:
it's time 
to commit 
Industry
4.0
8
2016 Global Industry 4.0 Survey
1) Industry 4.0 - from talk to 
action
The buzz around Industry 4.0 has 
moved from what some saw as PR 
hype in 2013 to investment and real 
results today. Respondents expect to 
significantly increase their portfolios 
of digital products and services; more 
than twice as many expect to be at an 
advanced level in this area by 2020 
compared to today. Similarly, almost 
three-quarters of companies expect to 
have highly digitised horizontal and 
vertical value-chain processes in five 
years. 
Investment plans are extremely 
ambitious, with first movers in 
particular already making significant 
Industry 4.0 investments and realising 
both above-average digital revenues 
and operational savings. Their plans 
for the next five years are even more 
ambitious and far-reaching, with digital 
products and services paving the way 
for disruptive business models.
2) Digitisation drives quantum 
leaps in performance  
Companies that successfully implement 
Industry 4.0 no longer need to choose 
between focusing on a better top or 
bottom line. They can improve both at 
the same time. Over the next five years, 
the companies we surveyed expect to 
increase annual revenues by an average 
of 2.9% and reduce costs by an average 
of 3.6% p.a. First movers who combine 
high investment levels with advanced 
digitisation are set to achieve even more 
dramatic gains. 
All told, our survey respondents expect 
to see US$421 bn in cost reductions 
and US$493 bn in increased annual 
revenues p.a. for the next five years. If 
even half of these expectations are met, 
Industry 4.0 will fundamentally reshape 
the competitive landscape and bring 
fundamental change to established 
industries.
3) Deepen digital relationships 
with more empowered customers
Customers will be at the centre of the 
changes to value chains, products 
and services. Products, systems and 
services will be increasingly customised 
to customer needs, and many of our 
survey respondents say they plan to 
use data analytics to understand and 
meet them. First movers who are 
able to establish successful industrial 
platforms will have a significant 
advantage over competitors. Ultimately, 
industrial companies will need to own 
relationships with the end customers 
who drive demand or at least integrate 
with platforms that allow them to 
access the end customers efficiently.
Key findings from 
our survey research
9
Building the digital enterprise
4) Focus on people and culture to 
drive transformation
Our survey respondents say that their 
biggest implementation challenge isn't 
the right technology, it's a lack of digital 
culture and skills in their organisation.  
This finding is also consistent with 
our Digital IQ research, which for nine 
years has explored how organisations 
across industries can derive value 
from digital investments2. Digital IQ 
emphasises that while investing in 
the right technologies is important, 
ultimately success or failure will depend 
not on specific sensors, algorithms 
or analytics programmes, but on 
a broader range of people-focused 
factors. Industrial companies need to 
develop a robust digital culture and to 
make sure change is driven by clear 
leadership from the C-suite. They'll 
also need to attract, retain, and train 
digital natives and other employees who 
are comfortable working in a dynamic 
ecosystem environment.
5) Data analytics and digital trust 
are the foundation of Industry 4.0
Data fuels Industry 4.0 and successful 
data analytics is the prerequisite for 
successful implementation of digital 
enterprise applications.  It's time to 
move from a phase of discovery and 
understanding what data is available 
and what it is worth to one of insights 
and action. 'First movers'  are already 
making the shift and using data 
analytics to help drive decision-making. 
As digital ecosystems expand, so does 
the importance of establishing strong 
levels of digital trust, backed up by 
transparency and non-repudiation 
that provides proof of the integrity 
and origin of one's own and third-
party data. Strong risk management 
and data integrity systems can help 
companies avoid breaches and manage 
disruption to operations better  the 
#1 data security concern of our survey 
respondents.
6) Robust, enterprise-wide data 
analytics capabilities require 
significant change
Industrial companies will need 
to develop robust organisational 
structures that support data analytics 
as an enterprise-level capability. 
Half of the surveyed companies have 
established dedicated data analytics 
functions, either on a corporate level 
to bundle talent or on a business unit 
level to remain close to the operational 
business. However, 38% of companies 
currently rely on selective, ad-hoc 
capabilities of single employees; another 
9% have no significant capabilities at 
all. 
7) Industry 4.0 is accelerating 
globalisation, but with a distinctly 
regional flavour
Industry 4.0 will create digital networks 
and ecosystems that in many cases will 
span the globe, but still retain distinct 
regional footprints. Both developed 
and developing markets stand to gain 
dramatically.  
Companies in Japan and Germany are 
the furthest along in digitising internal 
operations and partnering across the 
horizontal value chain. With high 
investment in technology and employee 
training, they view their digital 
transformation primarily in terms of 
gains in operational efficiency, cost 
reduction and quality assurance. Our 
experience working with companies in 
the US suggests that they are planning 
to invest more heavily in developing 
disruptive business models, as 
companies move quickly to digitise their 
product and service portfolios. 
China's industrial companies stand 
out in all aspects of digitisation: they 
are expecting both above-average cost 
reductions as well as increased digital 
revenues through to 2020. China is one 
of the countries that stands to gain the 
most from automating and digitising 
labour-intensive manufacturing 
processes and needs to find a solution 
to rising employee remuneration. In 
addition, Chinese companies are highly 
flexible and open to digital change.
8) Big investments with big 
impacts: it's time to commit 
Industry 4.0 investments are already 
significant and our research suggests 
that global industrial products 
companies will invest US$907 bn per 
year through to 2020. The major focus 
of this investment will be on digital 
technologies like sensors or connectivity 
devices, as well as on software and 
applications like manufacturing 
execution systems (MES). In addition, 
companies are also investing in training 
employees and driving organisational 
change. More than half of respondents 
expect their Industry 4.0 investments to 
yield a return within two years or less, 
given investment of around 5% p.a. of 
their annual revenue.
2  PwC, 2015 Global Digital IQ Survey, September 2015.
10
2016 Global Industry 4.0 Survey
Blueprint for digital 
success 
To move forward with Industry 
4.0, digital capabilities are all-
important. These take time and 
concentration; a step-by-step 
approach is important. But move 
with deliberate speed, so that 
you don't lose the first-mover 
advantage to competitors. 
1) Map out your Industry 4.0 
strategy 
Evaluate your own digital maturity now 
and set clear targets for the next five 
years. Prioritise the measures that will 
bring the most value to your business 
and make sure these are aligned 
with your overall strategy. Make sure 
company leadership is ready and willing 
to champion your approach.
2) Create initial pilot projects
Use them to establish proof of concept 
and demonstrate business value. Target 
a confined scope, but highlight the 
end-to-end concept of Industry 4.0. Not 
every project will succeed, but they 
will all help you to work in a cross-
functional and agile approach with 
customers and technology partner - the 
new norm of the future. With evidence 
from early successes, you can also 
gain buy-in from the organisation, and 
secure funding for a larger rollout. 
Design pragmatically to compensate 
for standards or infrastructure that 
don't yet exist. Collaborate with digital 
leaders outside your organisation, by 
working with start-ups, universities, 
or industry organisations to accelerate 
your digital innovation.
3) Define the capabilities you need
Building on the lessons learned in 
your pilots, map out in detail what 
capabilities you need to achieve 
your vision. Include how enablers 
for Industry 4.0, like an agile IT 
infrastructure, can fundamentally 
improve all of your business processes. 
Remember to develop strategies for 
attracting people and improving 
processes as well as for implementing 
new technologies. Your success with 
Industry 4.0 will depend on skills and 
knowledge. Your biggest constraints may 
well be your ability to recruit the people 
needed to put digitisation into place.
4) Become a virtuoso in data 
analytics
Consider how you can best organise 
data analytics; cross-functional expert 
teams are a good first step. Later these 
capabilities can be fully embedded in 
your functional organisation. 
Learn to get value out of data by 
building direct links to decision-making 
and to intelligent systems design. Use 
the data to improve products and their 
use in the field to offer and build new 
service offerings. Think big, but start 
small, with 'proof of concept' projects.
5) Transform into a digital 
enterprise
Capturing the full potential of Industry 
4.0 often requires company-wide 
transformation. Look to set "tone 
from the top", with clear leadership, 
commitment and vision from the C-suite 
and financial stakeholders. Foster a 
digital culture: all your employees 
will need to think and act like digital 
natives, willing to experiment with new 
technologies and learn new ways of 
operating. 
Remember that change doesn't stop 
once you've implemented Industry 4.0. 
Your company will need to re-invent its 
capabilities at faster rates than in the 
past to stay ahead of the game.
6) Actively plan an ecosystem 
approach
Develop complete product and services 
solutions for your customers. Use 
partnerships or align with platforms if 
you cannot develop a complete offering 
internally. You may find it difficult to 
share knowledge with other companies, 
and you may prefer acquisition. But look 
for ways to bridge this gap  perhaps 
with technical standards  so that you 
can profit from being part of platforms 
that you don't fully control. 
Real breakthroughs in performance 
happen when you actively understand 
consumer behaviour and can 
orchestrate your company's role within 
the future ecosystem of partners, 
suppliers and customers. 
Don't buy the hype. Buy the reality. 
Industry 4.0 will be a huge boon to 
companies that fully understand what 
it means for how they do business. 
Change of this nature will transcend 
your company's boundaries  and 
probably the national boundaries of 
the countries where you do business. 
Blueprint for digital success
Map out
your Industry
4.0 strategy
1
Create
initial pilot 
projects
2
Define the
capabilities
you need
3
Become a
virtuoso in data
analytics
4
Transform
into a digital
enterprise
5
Actively plan
an ecosystem
approach
6
Blueprint for digital success
11
Building the digital enterprise
Key findings from our 
survey research
Industry 4.0 
has moved 
from talk to 
action 
When PwC conducted its first 
set of research on Industry 4.0 
in 2014 , it was on the radar for 
many companies  but relatively 
few were actually in the process 
of implementing it. That has 
changed dramatically this year. 
Industry 4.0 is no longer a 'future trend' 
 for many companies it is now at the 
heart of their strategic and research 
agenda. Companies are combining 
advanced connectivity and advanced 
automation, cloud computing, sensors 
and 3D printing, connected capability, 
computer-powered processes, intelligent 
algorithms and 'internet of things' (IoT) 
services to transform their businesses. 
Change is happening fastest in 
areas close to the core business
Just over two-fifths of companies 
report that they believe their product 
development and engineering and 
their vertical value chains are already 
benefiting from an advanced level 
of digitisation and integration (see 
Figure 1). Areas of focus include 
digitising and connecting functions 
Shown: Percentage of companies surveyed reporting high degrees of digitisation and integration 
Q: How would you classify the current level of digitisation and integration in the 
following areas in your company? What levels of digitisation and integration are you 
expecting in the next five years?
Today
In five years
Vertical value-chain 
integration
41%
72%
Horizontal value-chain 
integration
34%
65%
Digital business 
models, product and 
service portfolio
29%
64%
Product development 
& engineering
42%
71%
Customer access, 
sales channels & 
marketing
35%
68%
High level of 
digitisation in 5 years
High level of 
digitisation today
33%
72%
+39%
Figure 1:  Respondents expect to more than double their level of 
digitisation by 2020
12
2016 Global Industry 4.0 Survey
such as digital order processes, 
customised product development and 
the automated transfer of product 
data to connected planning and 
manufacturing systems, and further on 
to integrated customer service. These 
are also the areas that they anticipate 
will also be furthest advanced in five 
years' time.
Advanced digitisation and integration 
of the horizontal value chain, with 
suppliers, customers and other value-
chain partners, and digitisation of 
customer channels are progressing 
a little slower than with the vertical 
value chain. Big advances are expected 
in five years' time but these are areas 
that companies believe will be more 
challenging than those closer to their 
core production activities. 
First movers are set to outpace 
their competitors
Some companies report advanced 
or very advanced current levels of 
digitisation and integration. There are 
also companies who rate themselves 
ahead of their main competitors when 
it comes to building digital operations 
capabilities. And some companies have 
made early investments in Industry 4.0.
There is also a select group of 
companies who score highly on all three 
of these key dimensions. We identified 
71 companies (around 4% of the whole 
survey population) who are setting the 
fastest pace. We call these companies 
"first movers," and they're already 
gaining a nearly insurmountable 
advantage over competitors, as we'll 
show throughout this report.
'First movers' expect to gain significant 
benefits from their more advanced 
digital capabilities and greater levels 
of investment. They are far more likely 
to be forecasting both revenue gains 
of more than 30% and cost reduction 
of more than 30% at the same time 
(see Figure 2). They're more likely to 
expect efficiency gains too. Put these 
all together and you have an enormous 
impact.
Cost reduction
Revenue growth<30%
>30%
<30%>30%% of companies achieving >30% increased revenue 
and >30% reduced costs simultaneously by 2020
196
27%
First
movers
10%
All 
Companies
Q: What cumulative benefits from digitisation do you expect in the next 5 years? 
Lower costs, increased revenues.
Figure 2:  First movers are almost three times more successful in combining 
high revenue increases with significant gains in cost reduction
13
Building the digital enterprise
Digitisation 
drives 
quantum leaps 
in performance  
Our survey respondents 
anticipate significant gains from 
the implementation of Industry 
4.0 initiatives. 
On average, companies expect to 
reduce operational costs by 3.6% p.a., 
while increasing efficiency by 4.1% 
annually. High levels of cost reduction 
are expected in every industry sector 
we studied (see Figure 3). Some of 
these cost savings can be achieved by 
implementing smart manufacturing 
initiatives. For example, companies 
are moving to integrated planning & 
scheduling for manufacturing. Such 
systems combine data from within 
the enterprise  from sensors all the 
way through  to ERP systems  with 
information from horizontal value 
chain partners, like inventory levels 
or changes in customer demand. 
Integrated shop floor planning improves 
asset utilisation and product throughput 
time. Another example is predictive 
maintenance of key assets, which uses 
predictive algorithms to optimise repair 
and maintenance schedules and to 
improve asset uptime.
System based, real-time end-to-end 
planning and horizontal collaboration 
is now possible using cloud-based 
planning platforms. Companies that 
use such systems to become better 
integrated with horizontal value chain 
partners, including suppliers and key 
customers, can significantly improve 
efficiencies and reduce inventories. In 
addition, the implementation of track-
and-trace devices on products will lead 
to better inventory performance and 
reduced logistics cost. 
9
49
78
28
54
52
61
62
28
421
Aerospace, defence 
& security
Cost reduction 
(in % p.a. until 2020)
Cost reduction 
(in US$bn p.a. until 2020)
3.7%
 Chemicals 
3.9%
Engineering & construction
3.4%
Forest, paper & packaging
4.2%
  Metals  
3.2%
Industrial manufacturing
3.6%
Transportation & logistics
3.2%
  Electronics 
3.7%
 Automotive
3.9%
  Weighted Average 
3.6%
Total
Q: What cumulative benefits from digitisation do you expect in the next 5 years? Lower costs.
Figure 3:  Companies in every industry sector expect significant cost 
reductions
14
2016 Global Industry 4.0 Survey
The new competitive landscape
Efficiency gains of the magnitude 
uncovered by our survey have the 
potential to change the competitive 
landscape within a very short space of 
time. If even half of the expectations 
outlined are realised, some companies 
may find themselves unable to compete. 
In an increasingly cost-competitive 
market, no industrial company can 
afford to lose out in operational 
efficiency against their market peers. 
The next two to three years will be 
crucial for companies looking to catch 
up.
Significant revenue opportunities 
ahead
Survey participants expect additional 
digital revenues of 2.9% p.a. until 
2020. To generate these additional 
revenues, companies will introduce new 
industrial products with digital features 
and augment their existing portfolio 
(see Figure 4). Digital services based on 
data analytics, or even complete digital 
solutions serving a customer ecosystem, 
will drive breakthrough revenue 
growth.
In addition, real-time data availability 
will enable companies to manufacture 
personalised products and customise 
solutions. These customised products 
usually generate significantly higher 
margins than mass-manufactured 
offerings. 
Improved customer insight from smart 
data analytics also allows companies to 
better focus on additional high-margin 
business.
In the new industrial reality, most 
companies (86%) expect to secure 
simultaneous gains from both lower 
costs and added revenue in the next five 
years. 
And the impact is far-reaching for every 
industry we studied. At least a third 
of companies in every sector expect to 
secure efficiency gains and cost savings 
of more than 20% and many anticipate 
that these will be accompanied by 
additional revenues of the same 
magnitude. 
How Industry 4.0 is delivering revenue, cost and efficiency gains
Note: Companies achieving 10% or more additional 
revenue in the following areas over the next 5 years. 
Multiple answers possible
47%
Digitisation of the 
existing product 
portfolio
44%
Introducing a 
new digital 
product 
portfolio
42%
Other digital 
services to 
external 
customers
38%
Big data 
analytics services 
to external 
customers
Q: Which of the following new digital products 
or services do you plan to introduce and 
expect will generate more than 10% of your 
future revenue over the next 5 years?
Figure 4:   Revenues from digitising 
the product and service 
portfolio will grow 
significantly in future
Additional revenue from:
Lower cost and greater efficiency from:
Digitising products and services within the existing portfolio 
Real-time inline quality control based on Big Data Analytics 
New digital products, services and solutions 
Modular, flexible and customer-tailored production concepts 
Offering big data and analytics as a service. 
Real-time visibility into process and product variance, augmented reality 
and optimisation by data analytics 
Personalised products and mass customisation. 
Predictive maintenance on key assets using predictive algorithms to 
optimise repair and maintenance schedules and improve asset uptime 
Capturing high-margin business through improved customer insight from 
data analytics
Vertical integration from sensors through MES to real-time production 
planning for better machine utilisation and faster throughput times 
Increasing market share of core products
Horizontal integration, as well as track-and-trace of products for better 
inventory performance and reduced logistics
Digitisation and automation of processes for a smarter use of human 
resources and higher operations speed 
System based, real-time end-to-end planning and horizontal collaboration 
using cloud based planning platforms for execution optimisation
 Increased scale from increased market share of core products
15
Building the digital enterprise
Deepen digital 
relationships 
with more 
empowered 
customers 
As Industry 4.0 develops, the 
traditional model of products 
pushed out to the market will 
fade and 'customer pull', with 
customers intimately involved in 
a more collaborative relationship 
with manufacturers, will be much 
more the norm. Industry 4.0 will 
greatly enrich the opportunities 
to retain and grow the customer 
relationship but it will also make 
the fight for the customer more 
intense.
Deepening customer relationships 
through co-creation and 
customisation
Digital integration with the customer 
and new technological opportunities 
to move production closer to the 
customer, for example with 3D printing, 
will enable greater individualisation 
and customisation of products. Most 
companies we spoke to are expecting 
to strengthen their digital offering to 
customers, either by digitising existing 
products or by developing new digital 
products. The opportunity is there not 
only to greatly increase the ability to 
respond flexibly and more rapidly to 
customer demands but also to anticipate 
demands, helping the customer move 
ahead in a range of predictive ways. 
Using data to enhance customer 
service and responsiveness
Nearly three-quarters of companies 
(72%) expect that the use of data 
analytics will substantially improve 
customer relationships and customer 
intelligence along the product life cycle 
(see Figure 5). Greater integration 
of data between manufacturers 
and customers can open up new 
collaboration opportunities. Clever 
use of pooled data, for example, can 
allow manufacturers in B2B markets 
to help customers in value-chain 
planning, driving efficiencies within 
the customer's operations as well as 
vice versa. Many companies have such 
collaborative opportunities in sight. 
Over a third (38%) of companies in our 
survey said they plan to offer their big 
data services to external companies. 
Basing 
product/service 
development 
on customer 
specifications
Innovation in 
customer service
Using data 
analytics to 
meet customer 
requirements and 
improve operational 
performance
Customising 
products all the way 
down to a lot size 
of 1
Building a 
customer-focused 
supply chain
Driving customer-
centric marketing 
and channel access
How industrial companies are getting closer to 
customers
Data 
& A
nalyt
ics as core capabilityData & Analytics as core 
cap
ab
ility1. Dig
itisa
tion and integrationof 
ver
tical a
nd horizontalvalu
e chains
2. Digital business
models and customer access
3. D
igitisation ofprodu
ct a
nd service offerings72%
Q: In which areas will your company use data 
analytics in five years? Improving customer 
relationship and customer intelligence along 
the product life cycle.
Figure 5:  Industry 4.0 is helping 
industrial companies 
optimise customer 
relationships
16
2016 Global Industry 4.0 Survey
Developing a platform approach 
to stay close to customers
Integrated solutions or value-
added services are characterised 
by significantly higher customer 
benefits and will revolutionise existing 
product portfolios and performance 
relationships. Foremost among these 
is a platform approach. A platform is a 
nexus of exchange and interoperable 
technology, which allows a wide range 
of vendors and customers to interact 
seamlessly. The most successful first 
movers of the software and internet 
industries all cemented their positions 
with powerful and distinctive 
platforms. 
First movers on Industry 4.0 will seek a 
similar advantage. GE and Siemens, for 
example, are already rushing to solidify 
themselves as platform providers. Each 
has developed a cloud-based system 
for connecting machines and devices 
from a variety of companies, facilitating 
transactions, operations and logistics, 
and collecting and analysing data. 
Other industrial companies are also 
moving from simply augmenting 
their products with digital features to 
more comprehensive digital offerings. 
These can range from complete digital 
solutions to becoming a platform 
integrator.
An effective platform must, by 
definition, bring the customer close to 
operations. Industrial companies that 
share these platforms will also have 
access to customer data, which will be 
analysed to better forecast their needs, 
improve products and develop new 
ones. Whoever owns the platform thus 
owns the customer, owns access to the 
customer, and ends up aggregating 
the work of a lot of other enterprises. 
Ultimately this can lead to providing a 
full digital ecosystem.
Key types of platforms
Product Lifecycle Management 
(PLM) systems: connect market 
intelligence with product 
development and operations, all 
the way to smart services  both 
within a manufacturing company 
as well as with key value-chain 
partners.
Manufacturing Execution 
Systems (MES): connect the 
data input and transfer between 
the equipment of multiple 
vendors, as well as facilitating 
communication between 
multiple software and systems 
applications, extending from a 
company's Enterprise Resource 
Planning (ERP) all the way to 
shopfloor quality applications.
Complete Solution/ 
Service Provider
Focus on digital 
products and 
data-based services, 
which provide a 
complete solution for 
the customer
Data Analytics, 
Content & Platform 
Integrator
Focus on data 
analytics and 
data-based services; 
access to customers 
via a dedicated 
(online) platform
Integrated Digital
Ecosystem Provider
Integration of 
third-party partner 
or competitor 
products and 
control systems in a 
complete customer 
ecosystem
Core product
Value crea
tion
Asset intensity
Data intensity
Augmented Digital 
Product Player
Focus on products 
with digital features 
like sensors or 
communication 
devices
Industrial companies are moving towards greater digital value creation, from augmented 
products to serving digital ecosystems
17
Building the digital enterprise
Focus on 
people and 
culture to drive 
transformation 
Industry 4.0 has massive 
implications for the nature of how 
a company chooses to organise 
itself and its delivery model.
Companies will need to make sure 
staff understand how the company is 
changing and how they can be a part of 
it. From our interviews with industrial 
companies, the biggest challenges 
centre around internal issues such 
as culture, organisation, leadership 
and skills rather than external issues 
such as whether the right standards, 
infrastructure and intellectual property 
protection are in place or whether 
concerns about data security or privacy 
concerns can be overcome. 
The absence of a digital culture and the 
right training was identified as a top 
challenge by more companies than any 
other (see Figure 6). That was equally 
true for companies rating themselves 
as advanced. And it held true across 
industries and regions as well.
Skills issues loom large for data 
analytics too
Lack of skills or competencies in the 
company's workforce is also the biggest 
challenge survey respondents see 
when it comes to making use of data 
analytics. It's not surprising, then, that 
over two-thirds (69%) cite increasing 
in-house data analytics technology 
and skill levels as the single biggest 
improvement route to boost data 
analytics capabilities. Some companies 
also say external partnerships have a 
role to play, through the provision of 
technology or training, and a minority 
of companies (18%) expect to use M&A 
to acquire outside companies.
Q: Where are the biggest challenges or inhibitors for building digital operations 
capabilities in your company?
Note: Included as one of three possible responses
Lack of digital culture and training
 Lack of a clear digital operations vision and 
support / leadership from top management
Unclear economic benefit and digital investments
High financial investment requirements
Unresolved questions around data security and data 
privacy in connection with the use of external data
Insufficient talent
Lack of digital standards, norms and certification
Slow expansion of basic infrastructure technologies
Business partners are not able to 
collaborate around digital solutions
Concerns around loss of control over your 
company's intellectual property
50%
40%
38%
36%
25%
25%
21%
18%
16%
14%
Data 
& A
nalyt
ics as core capabilityData & Analytics as core 
cap
ab
ility1. Dig
itisa
tion and integrationof 
ver
tical a
nd horizontalvalu
e chains
2. Digital business
models and customer access
3. D
igitisation ofprodu
ct a
nd service offerings50%
Lack of digital culture and training
Figure 6:   Lack of digital culture and training is the biggest 
challenge facing companies
69% say increasing 
in-house data 
analytics technology 
and skill levels is 
the top route to 
boost data analytics 
capabilities
18
2016 Global Industry 4.0 Survey
Data analytics 
and digital 
trust are the 
foundation of 
Industry 4.0 
Data lies at the heart of the fourth 
industrial revolution, but the 
massively growing information 
flow brings little value without 
the right analytics techniques. 
The rapidly growing number 
of sensors, embedded systems 
and connected devices as well 
as the increasing horizontal 
and vertical networking of 
value chains result in a huge 
continuous data flow. 
Data is coming from multiple sources, 
in different formats, and there is a need 
to combine internal data with data from 
outside sources. Expert and effective 
data analytics is essential to using 
data to create value. And with so many 
points of entry, companies need to take 
a rigorous, proactive approach to data 
security and related issues and work to 
build digital trust.
Advanced companies use data to 
drive decision-making
While most of our respondents (83%) 
expect data to have a significant impact 
on their decision-making in five years, 
only about half are currently using data 
to drive decisions (see Figure 7). Our 
research suggests that companies who 
are already ahead on their digitisation 
and integration journey are also much 
more likely to be putting data analytics 
to work.  Among those with advanced 
levels of digitisation and integration, 
nearly three-quarters (73%) say that 
data and analytics play a significant 
role in their decision-making, compared 
to just 38% of those who have low levels 
of digitisation and integration.
Shown: Summarised percentages of companies surveyed reporting high levels of significance
Today
In five years
Aerospace, defence 
& security
39%
82%
 Chemicals 
60%
88%
Engineering & construction
40%
72%
Forest, paper & packaging
55%
83%
  Metals  
49%
83%
Industrial manufacturing
54%
88%
Transportation & logistics
50%
90%
  Electronics 
66%
89%
 Automotive
49%
84%
  Other 
43%
83%
50%
83%
+33%
High importance 
in 5 years
High importance 
today
Figure 7:   Data and analytics are becoming increasingly important to 
decision-making.
Q: What significance does the gathering, analysis and utilisation of data for decision-
making have for your company?
19
Building the digital enterprise
It's important to remember that data 
analytics provides tools for decision-
making, rather than a complete 
replacement for sound judgement 
on the part of management. In other 
research we've explored the "art and 
science" of decision-making, and 
found that data analytics will play an 
increasingly central role in the future 
but it won't fully replace other factors, 
particularly when it comes to major 
strategic decisions3. 
Companies need to expand their 
use of big data
Many companies already use data 
analytics to analyse and report on 
processes (see Figure 8). Our survey 
respondents say their companies are 
focusing most on using data analytics 
to control and improve their overall 
business planning and manufacturing 
operations, followed closely by efforts 
to get closer to their customers, both 
today and in five years. Around three-
quarters of companies are deploying or 
plan to deploy data analytics in these 
areas. But these approaches are just the 
beginning.
There are other uses for data analytics 
that far fewer companies have on their 
radar screen. These include better 
service and maintenance of companies' 
own assets and products owned by 
customers, and better cooperation 
and decision-making with partner 
companies. These open up possibilities 
for new service offering and ways of 
working, so companies may want to 
start paying more attention.
To succeed, companies will need to 
use data in predictive, forward-looking 
ways that make sense of market 
developments and customer behaviour 
to improve products and develop new 
products and services.
Status quo
Growth potential in 5 years
Optimisation of overall business
planning and controlling
56%
22%
78%
Better manufacturing / 
operations planning
75%
59%
16%
Improvement of customer relationship and
customer intelligence along the product life cycle
72%
51%
21%
More efficient asset utilisation
of operational efficiency
71%
52%
19%
Development of new or optimisation
of existing products /services
69%
44%
25%
Increase of sales revenue
68%
46%
22%
Optimisation of transport and
logistics costs / efficiency
67%
48%
19%
 Improved product or process quality
65%
47%
18%
Efficient maintenance / service of own
assets or customer products
Better cooperation and decision-making
with partner companies
61%
38%
23%
56%
36%
20%
3  PwC, Global Data & Analytics Survey 2014: Big Decisions
Figure 8:   Are companies underestimating the scope of data analytics?
Q: In which areas are you using big data analytics today? In which additional areas will your 
company use data analytics in five years?
20
2016 Global Industry 4.0 Survey
Building digital trust should be a 
top priority
Digital ecosystems and broad use of 
data also raises important issues around 
cybersecurity. More touchpoints where 
data is collected and exchanged also 
means more potential points of entry 
for an attacker. Our survey respondents 
flagged a wide range of concerns 
around data security, with operational 
interruption from cybersecurity 
breaches at the top of their list (see 
Figure 9). Other issues like liability 
risks, unauthorised access to data and 
damage to company reputation are on 
the radar too. 
There's some good new though. Many 
of our survey respondents are confident 
that they've made strong progress here 
 just 25% rate unresolved questions 
around data security and data privacy 
as one of the top 3 challenges that are 
slowing down their Industry 4.0 efforts. 
To make sure that stays on track, many 
companies will need to make building 
and maintaining digital trust a priority.
For example, as companies move 
towards operating increasingly in 
ecosystems, it will be important to 
integrate a whole range of technical 
domains into the system. These include 
managing organisational functions and 
transactions, controlling automation 
assets and supporting the creation and 
delivery of products and services, in 
some cases focused towards end-users. 
Making security an integral part of all 
systems and processes can help deter 
attacks and speed up response time if 
they do happen.  Third-party assurance 
is also an important way to confirm that 
systems are robust and strengthen the 
trust of ecosystem participants in your 
platform's integrity.
Also important will be working together 
with ecosystem partners; with possible 
points of attack spread out throughout 
the ecosystem, responsibility needs to 
be shared broadly.
Digital trust is a complicated issue, but 
it's based on three pillars: transparency, 
legitimacy and effectiveness. In other 
research, we look at ten issues which 
centre around the ethics and control of 
data access and use, interaction through 
the internet, digital risk resilience and 
value-creation in the digital age4. The 
emergent and interconnected nature 
of these issues  and the regulatory 
response to them  highlight the 
challenges organisations face. Industrial 
companies will need to stay focused to 
meet them.  
Note: Included as one of three possible responses
Operational disruption due to 
cybersecurity breaches
54%
Liability risks through data loss
40%
Unauthorised data extraction/modification
 within company-internal data flow
Damage to company reputation and loss of 
trust due to data loss
39%
Misuse of data during exchange of 
information with partners
37%
Loss of intellectual property
35%
Violation of regulations and laws on
data security or data privacy
30%
Endangerment of operators or users
10%
40%
4  Norbert Schwieters, PwC, "Ten digital trust challenges," 4 December, 2015
Figure 9:  Operational disruption is the top data security concern
Q: What are the main concerns in terms of data security?
Digital trust is a 
complicated issue, 
but it's based 
on three pillars: 
transparency, 
legitimacy and 
effectiveness.
21
Building the digital enterprise
Robust, 
enterprise-
wide 
data analytics 
capabilities require 
significant change 
The companies we surveyed 
understand that it's critical to 
have data analytics capabilities 
in order to successfully drive 
digital transformation. But 
there's still a long way to go 
before these reach the level of 
sophistication needed to really 
drive Industry 4.0 applications.
Only 18% of survey respondents rate 
the maturity of their data analytics 
capabilities as advanced (see Figure 10), 
and more than half say that the lack 
of skills and competencies in their 
company's workforce is a key challenge 
to making full use of data analytics.
Moving beyond ad-hoc approaches
Ad-hoc approaches to the organisation 
and governance of data analytics may 
be part of what's holding companies 
back. Almost half lack a structured 
approach to data analytics organisation 
and governance (Figure 11). Thirty-
eight percent of respondents say their 
companies rely on the selective, ad-hoc 
data analytics capabilities of individual 
employees, while another nine percent 
have no significant data analytics 
capabilities at all. 
In contrast, just over a third have 
embedded data analytics into specific 
functions, giving themselves the 
flexibility and proximity to business 
knowledge to fully utilise the 
potential of data analytics. Another 
14% of companies have a dedicated 
department for data analysis serving 
many functions across the company. 
First movers are much more likely to 
have pursued these two options  43% 
have embedded their data analytics 
in specific functions and 24% have a 
dedicated department. 
To reach excellence in data analytics, 
industrial companies will need access 
to a wide variety of skill sets, including 
those of data scientists and algorithm 
architects. They will also need process 
expertise, advanced algorithms and 
workflow integration for decision 
support. In some situations outsourcing 
can help supplement internal 
capabilities or bridge temporary gaps.
Data 
& A
nalyt
ics as core capabilityData & Analytics as core 
cap
ab
ility1. Dig
itisa
tion and integrationof 
ver
tical a
nd horizontalvalu
e chains
2. Digital business
models and customer access
3. D
igitisation ofprodu
ct a
nd service offerings52%
Medium
18%
Advanced
22%
Poor
Advanced
8%
Outsourced
to external
 partners
Figure 10:  Most companies don't yet have mature data analytics 
capabilities
Q: How mature are the data analytics capabilities in your company?
Data 
& A
naly
tics as core capabilityData & Analytics as core
 ca
pa
bil
ity1. D
igit
isati
on and integrationof ve
rtic
al and horizontalvalu
e chains
2. Digital business
models and custom
er access
3. D
ig
itisation ofprodu
ct 
an
d service offerings5%
Data analysis services 
are outsourced and 
performed by 
external service
providers
35%
Data analytics is 
embedded within 
specific functions
14%
Dedicated department 
for data analysis serving 
many functions accross 
the company
9%
No significant
data analysis
capabilities
38%
Selective, ad-hoc 
data analysis 
capabilities of 
single 
employees
Figure 11:  Nearly half of companies still need to develop a robust organisation 
that supports data analytics excellence
Q: How are data analysis capabilities organised in your company?
Note: Answers shown are rounded
22
2016 Global Industry 4.0 Survey
Accelerating 
globalisation, 
but with 
distinct regional 
flavours 
As the fourth industrial 
revolution binds companies 
and countries ever more tightly 
togetherthrough worldwide 
supply chains and data 
networksit will increasingly 
promote globalisation. 
Many industrial leaders operate 
worldwide facilities, so successful 
Industry 4.0 implementation is not 
limited to specific countries or regions. 
At the same time, many applications 
will link closely to local companies, 
as customised products often require 
regional manufacturing capabilities.  
Our survey results show similarities 
between leading companies around the 
globe, but they also differ considerably 
by region. 
Conventional wisdom suggests that 
developed economies could be the 
winners, in the short term at least, from 
Industry 4.0, as they are driving digital 
operations improvements to secure 
significant efficiency gains. So are 
emerging economies losing out? Our 
survey results indicate that emerging 
nations probably have the most to gain, 
as Industry 4.0 takes hold around the 
globe. They can leverage digitisation to 
gain efficiency in their horizontal value 
chain, efficiently working within a 
global manufacturing network to supply 
key components, products and systems. 
In addition, rising personnel costs and 
high potential to digitise processes will 
lead to above-average efficiency gains 
in emerging economies.
Additional revenue
Efficiency gains
Lower costs
Americas
Regions
Territories
Global all
37%
Asia Pacific
39%
Europe, Middle East & Africa
32%
39%
50%
57%
68%
41%
55%
35%
43%
56%
United States
37%
37%
51%
China
51%
59%
72%
Japan
22%
65%
67%
Germany
30%
42%
62%
India
43%
46%
62%
Brazil
41%
32%
41%
Shown: % of survey respondents in each region expecting gains of over 20% in the next five years
Figure 12:  Big gains are anticipated by industrial products companies in all regions
Q: What cumulative benefits from digitisation do you expect in the next 5 years?
23
Building the digital enterprise
Regional and country contrasts
Companies in Japan and Germany 
are the furthest along in digitising 
internal operations and partnering 
across the horizontal value chain. With 
high investments in technology and 
employee training, they view their 
digital transformation primarily in 
terms of gains in operational efficiency, 
cost reduction and quality assurance. 
Our experience working with and 
interviewing executives in the 
US suggests that companies there 
are planning more investment in 
developing disruptive business models, 
as companies move more quickly to 
digitise their product and service 
portfolio. Their focus is more on digital 
revenue growth, rather than efficiency 
gains.
China's industrial companies stand 
out in all aspects of digitisation: they 
are expecting both above-average cost 
reductions as well as increased digital 
revenues through to 2020. China is one 
of the countries that stands to gain the 
most from automating and digitising 
labour-intensive manufacturing 
processes and needs to find a solution 
to rising employee compensation. In 
addition, Chinese companies are highly 
flexible and open to digital change, and 
the Chinese workforce is embracing 
digital technologies.
A strong Asia Pacific push with 
other regions coming up fast
Industrial products companies in 
all regions are pressing hard on the 
Industry 4.0 accelerator and expect to 
secure significant benefits.  But it is 
companies in the Asia Pacific region 
that are making the strongest running. 
They report making significant digital 
investments and they have already 
moved further forward in terms of 
current digitisation and integration. 
Two-fifths (36%) believe they are at 
an advanced level now, compared 
to a third (32%) of companies in the 
Americas and 30% of EMEA companies 
(see Figure 13).  
Looking five years ahead, expectations 
of the level of digital integration are 
broadly comparable in all three regions 
(EMEA, the Americas and Asia Pacific). 
A large majority of companies expect 
to have advanced digitisation and 
integration capabilities, with Japan 
and Germany reaching digitisation 
levels above 80%. American, French 
and Swedish companies show similarly 
high levels of optimism. Although Asia 
Pacific companies report the highest 
digitisation and integration levels 
today, it is companies in the Americas, 
followed by those in EMEA, that expect 
to have the largest gains in digitisation 
levels by 2020.
Americas
Level of digitisation today
Asia Pacific
Europe, Middle East & Africa
Level of digitisation in five years
Level of digitisation in five years
Level of digitisation in five years
Level of digitisation today
Level of digitisation today
32%
74%
36%
67%
30%
71%
+42%
+31%
+41%
Figure 13:  Companies all over the world are expecting to dramatically increase digitisation over the 
next five years
Q: How would you classify the current level of digitisation and integration in the following areas in your company? What levels of 
digitisation and integration are you expecting in the next five years?
24
2016 Global Industry 4.0 Survey
Big 
investments 
with big 
impact: it's time to 
commit 
The nine industries we surveyed 
plan to invest US$907 bn 
p.a. globally in Industry 4.0 
applications over the next five 
years. That's a staggering sum, 
but the benefits are even more 
impressive. 
Survey respondents anticipate 
that those investments will lead to 
US$493 bn in additional revenues 
annually, in addition to strong gains 
in efficiency and reductions in cost. 
Investment levels will be highest in 
the electronics sector (see Figure 14). 
A major focus of this investment 
will be on digital technologies like 
sensors or connectivity devices, as 
well as on software and applications 
like manufacturing execution 
systems (MES). Companies are also 
investing significantly in training their 
employees, hiring new specialists and 
driving organisational change.
Within the next five 
years, advanced 
implementation of 
Industry 4.0 will 
become a 'qualifier 
to compete' and 
is also likely to be 
seen by investors 
as a 'qualifier for 
funding'.
756
 Chemicals 
Engineering & construction
Forest, paper & packaging
  Metals  
Industrial manufacturing
Transportation & logistics
  Electronics 
 Automotive
  Weighted Average 
15
45
195
15
55
177
97
243
65
Industry 4.0 investment
(in % p.a. until 2020)
Industry 4.0 investment
(in US$bn p.a. until 2020)
5%
5%
5%
4%
4%
5%
5%
7%
5%
5%
907
Aerospace, defence 
& security
Total
Figure 14:  Companies in every industry sector are planning substantial 
investments
Q: How high are your company's current and future investment in digital operations solutions? 
(investment as a percentage of annual revenue)
25
Building the digital enterprise
Catching up is getting increasingly 
difficult
There's no time to waste when it 
comes to increasing investment 
levels. First movers expect to see truly 
game-changing improvements in cost 
structures, operational efficiency, and 
revenues and are therefore stepping 
up their investment levels. Other 
companies are doing so as well; in fact, 
20% of companies plan to invest more 
than 10% of annual revenues in the 
next five years (see Figure 15).
Looking ahead, many of those who 
haven't invested significantly in the past 
two years plan to step up investment in 
the coming five years. That's one way 
to close the gap. But just over a third 
of companies still expect to keep their 
future investment relatively low. Some 
of these companies may be waiting 
for the 'perfect' technology. That's 
short-sighted. As we've already shown, 
the biggest challenge companies face 
isn't buying the right technology, it's 
transforming their organisation and 
culture. This requires long-term change 
programmes.
It simply won't be possible for 
companies to achieve advanced 
digitisation without making a step-
change in investment, given the 
continued rapid progress anticipated by 
companies who are already leading. The 
investment required to catch up is likely 
to be too costly, and faster-moving 
companies will have a significant 
advantage when it comes to positioning 
their offerings as a 'platform of choice' 
within digital ecosystems. Perhaps most 
importantly, companies who try to jump 
in too late will find that their internal 
cultures have lagged behind. 
Within the next five years, advanced 
implementation of Industry 4.0 will 
become a 'qualifier to compete' and is 
also likely to be seen by investors as 
a 'qualifier for funding'.  Companies 
who have not kept up will not only 
find themselves struggling to maintain 
market share but are also likely to face 
higher capital funding costs.
Rapid returns on investment
Most companies believe they will see 
a return on investment (ROI) within 
two years or less (see Figure 16) for 
their Industry 4.0 projects. Just over a 
third of companies anticipate a longer 
timescale of three to five years, but 
very few think that it will take any 
longer than five years for Industry 4.0 
investments to pay for themselves.
Shown: Investments in % of annual revenues
Investment levels over the next 5 years
15%
0-1% p.a.
20%
More than
10% p.a.
22%
2-3% p.a.
21%
4-5% p.a.
10%
6-9% p.a.
13%
10% p.a.
Median 
5% p.a.
Figure 15:  Companies that do not strategically invest will lose competitive 
advantage
Q: How high are your company's current and future investment in digital operations solutions? 
(investment as a % percentage of annual revenue)
Within two years
Two to five years
More than five years
55%
37%
8%
Expected ROI on 
Industry 4.0 investment
Figure 16:  Most companies expect 
Industry 4.0 investments 
to pay back 
within two years
Q: What return on investment period (ROI) do 
you expect from your digital investments?
26
2016 Global Industry 4.0 Survey
Blueprint for digital 
success
To move forward with Industry 
4.0, acquiring and rolling out 
digital capabilities across your 
company are all-important. This 
process takes time, so in order 
to gain or retain first-mover 
advantage over your competitors, 
you will need top management 
commitment and significant 
implementation investments.
Based on hundreds of 
transformation projects with 
leading industrial companies, 
we have defined six practical 
steps your company needs to take 
to lead tomorrow's competitive 
digital landscape. 
Blueprint for digital success
Map out
your Industry
4.0 strategy
1
Create
initial pilot 
projects
2
Define the
capabilities
you need
3
Become a
virtuoso in data
analytics
4
Transform
into a digital
enterprise
5
Actively plan
an ecosystem
approach
6
27
Building the digital enterprise
Map out your 
Industry 4.0 
strategy 
Your Industry 4.0 strategy will 
shape every further step you take 
on the path towards becoming 
a fully digital enterprise, so it's 
important to take the time to 
clearly define your vision.
Evaluate your own digital 
maturity now and set clear targets 
for the next five years
Many industrial capabilities have 
already begun digitising their business, 
but often the process has started 
in organisational silos, rather than 
through a holistic approach. Take the 
time to evaluate your maturity level 
in all areas of Industry 4.0 so that you 
understand what strengths you can 
already build on, and which systems/
processes you may need to integrate 
into future solutions. Our "maturity 
model" is one tool that can help speed 
up this process (see PwC maturity 
model on next page). Our Digital IQ 
Benchmark5 is another tool that you can 
use to assess how well positioned you 
are for digital success. 
As you start to think about where 
you want to go in the future, take 
the time to consider what you could 
gain by collaborating with customers, 
suppliers, technology partners and 
even competitors, without limiting your 
vision based on current constraints. 
Move your focus beyond technical 
details and consider what impact new 
applications could have on your value 
chain and your relationships with, 
and access to, your customers. Your 
roadmap will need to consider future 
changes in customer behaviour and 
how your relationship with them will 
change.
Moving from the current to the future 
desired state will need precise steps 
and a clear prioritisation. Companies 
that become a digital champion embark 
on a journey that starts small but ends 
ultimately in a transformation of the 
core business. 
5  PwC Digital IQ Benchmark
Questions to ask as 
you develop your  
digital strategy:
How mature are my current 
capabilities?
What could I gain by better 
collaboration with customers, 
suppliers, technology partners 
and even competitors?
How is customer behaviour 
changing and how does my 
relationship to customers need 
to change in response?
28
2016 Global Industry 4.0 Survey
Functional focus in "silos"
Cross-functional collaboration 
but not structured and 
consistently performed
Collaboration across company 
boundaries, culture and 
encouragement of sharing
Collaboration as a key value 
driver
Organisation, 
employees and 
digital culture
Digitisation 
of product 
and service 
offerings
Online presence is 
separated from offline 
channels, product focus 
instead of customer focus
Multi-channel distribution with 
integrated use of online and 
offline channels; data 
analytics deployed, e. g. for 
personalisation
Individualised customer 
approach and interaction 
together with value-chain 
partners. Shared, integrated 
interfaces.
Integrated Customer Journey 
Management across all digital 
marketing and sales channels 
with customer empathy and 
CRM
Digital business 
models and 
customer access
First digital solutions and 
isolated applications
Digital product and service 
portfolio with software, 
network (M2M) and data as 
key differentiator 
Integrated customer solutions 
across supply chain 
boundaries, collaboration with 
external partners
Development of new 
disruptive business models 
with innovative product and 
service portfolio, lot size 1
Digitised and automated sub 
processes. Partial 
integration including 
production or with internal 
and external partners. 
Standard processes for 
collaboration partly in place
Analytical capabilities mainly 
based on semi-manual data 
extracts; Selected 
monitoring and data 
processing, no event 
management
Fragmented IT architecture 
in-house. 
Traditional structures, 
digitisation not in focus
Vertical digitisation and 
standardised and harmonised 
internal processes and data 
flows within the company; 
limited integration with 
external partners
Analytical capabilities 
supported by central business 
intelligence (BI) system 
Isolated, not standardised 
decision support systems
Homogeneous IT architecture 
in-house. Connection 
between different data cubes 
developing.
Digital challenges recognised 
but not comprehensively 
addressed
Horizontal integration of 
processes and data flows with 
customers and external 
partners, intensive data use 
through full integration across 
the network.
Central BI system 
consolidating all relevant 
internal and external 
information sources, some 
predictive analytics
Specific decision support and 
event management systems
Common IT architectures in 
partner network. 
Interconnected single data 
lake with high-performance 
architecture 
Legal risk consistently 
addressed with collaboration 
partners, 
Fully digitised, integrated 
partner ecosystem with 
self-optimised, virtualised 
processes, focus on core 
competency; decentralised 
autonomy. Near real-time 
access to extended set of 
operative information 
Central use of predictive 
analytics for real-time 
optimisation and automated 
event handling with intelligent 
database and self-learning 
algorithm enabling impact 
analysis and decision support
Single data lake with external 
data integration functionalities 
and flexible organisation. 
Partner service bus, secure 
data exchange
Optimising the value-chain 
network for compliance, 
security, legal and tax
Digitisation 
and integration 
of vertical and 
horizontal 
value chains
Data & 
Analytics as 
core capability
Agile IT 
architecture
Compliance, 
security, legal 
& tax
2
3
4
 Digital 
 novice
 Vertical 
  integrator
Horizontal 
collaborator
Digital
champion
1
Make sure you engage champions 
throughout your business
Building up capabilities, adapting 
processes and IT and driving the 
cultural shift needed will take years. 
It's critical to provide clear leadership 
from your top management, but 
equally important is convincing the 
top stakeholders who will need to roll 
up their sleeves and implement the 
desired changes. One way to line up 
champions throughout the organisation 
is to educate stakeholders from the 
outset, for example through technology 
roadshows and visits to innovation 
hubs.
 PwC maturity model - Industry 4.0 capabilities develop across seven dimensions and four stages
29
Building the digital enterprise
Create 
initial pilot 
projects 
With so much riding on the 
outcome of Industry 4.0 projects, 
companies will need to work hard 
to overcome initial challenges. 
It can be difficult to secure 
funding and stakeholder buy-in, 
as the economic benefit case of 
digitisation is not always easy 
to calculate. And initially teams 
will only be able to provide very 
limited proof of concept and 
demonstration of technologies. 
Pilots can help address these issues. 
Not every project will succeed, but they 
will all help you learn the approach that 
works for your company. With evidence 
from early successes, you can also 
gain buy-in from the organisation, and 
secure funding for a larger rollout.
It's important to pick the right projects. 
We recommend targeting a confined 
scope, but highlighting the end-to-end 
concept of Industry 4.0. Possible options 
include vertical integration within one 
or two manufacturing sites including 
digital engineering and real-time data 
integrated manufacturing planning.  
Horizontal integration with selected 
key suppliers is another option, e.g. by 
installing track-and-trace devices on 
your shipments, helps to create end to 
end visibility. Or you could consider 
installing sensors and actuators on 
critical manufacturing equipment 
and using data analytics to explore 
predictive maintenance solutions. The 
diagram below provides an overview of 
possible areas for pilots.
Setting up cross-functional teams has 
proven to be a solid strategy. These 
teams should be fully dedicated to 
the project with the freedom to think 
outside existing company boundaries 
and point the company in new strategic 
directions regarding technology, way of 
working and ecosystems. Enablers like 
IT and human resources play a major 
role and should be embedded in the 
cross-functional pilot teams.
Data analytics is often done as part 
of a pilot or as a standalone pilot for 
companies looking to identify and 
prioritise data analytics use cases.
Often pilot teams will need to design 
pragmatically to compensate for 
standards or infrastructure that don't 
yet exist. While pilots may already 
bring business benefits, their most 
important purpose is to generate insight 
into how your company can work across 
functions or ecosystems and what 
changes you may need to make in IT, 
security, tools, and process and people 
capabilities. 
You may want to consider collaborating 
with digital leaders outside your 
organisation, by working with start-ups, 
universities, or industry organisations 
to accelerate your digital innovation.
Industry 4.0 pilot opportunities exist along the  full vertical and horizontal operational value chains
Digital hardware
optimisation and 
uptime guarantee
Digital  
collaboration in  
R & D
Digital
modelling,
mockup &
simulation
E2E product
lifecycle
mgmt.
Logistics visibility
Integrated E2E 
Planning and 
real-time 
execution
Predictive
maintenance
E-finance/
controlling
Digital customer
relationship
mgmt.
Omni-channel
commerce
Self-service
portals
Dynamic pricing
Personalised
sales & marketing
services
E-payments
Digital HR
Internal
knowledge
sharing
Agile IT
Integrated digital
engineering
Augmented
reality solutions
Prescriptive 
Supply Chain 
analytics
Digital sourcing
Smart 
Warehousing and 
Logistics
Smart spare parts 
management
Digital
factory
Machine
automation
MES
Advanced
asset mgmt.
Pay-per-use
model
Total platform
management
Big data
analytics &
performance
management
Digital manufacturing coordination controlNew digital
business 
models
Vertical
operations
integration
Smart
maintenance  
& service
Digital
workplace
Digital  
sales &
marketing
Digital
engineering
Horizontal 
Integration
30
2016 Global Industry 4.0 Survey
Define the 
capabilities 
you need 
Building on the lessons learned in 
your pilots, map out in detail your 
enterprise architecture and what 
capabilities you need. Include 
how enablers for Industry 4.0, 
like an agile IT infrastructure, 
can fundamentally improve all of 
your business processes.
The most successful approaches look 
at which capabilities are needed to 
enable new digital business models or 
internal digitisation. To implement a 
new capability, you'll need to consider 
four strategic dimensions: organisation, 
people, process and technology. 
Fine-tuning your organisation
New organisational structures could 
include:
 Incubators to protect and grow 
a new business idea which won't 
be influenced by the legacy 
organisation
 Pods or Centres of Excellence to 
enable temporarily self-organised 
teams without any formal hierarchy 
to solve problems or develop ideas in 
an interdisciplinary team setup
 Ideation Labs to provide an 
inspiring, creative, and hierarchy-
free working atmosphere where a 
trial-and-error culture is feasible
Focusing on people
Develop strategies for attracting people 
with the right digital skills. Your success 
with Industry 4.0 will depend on skills 
and knowledge. Your biggest constraints 
may well be your ability to recruit new 
employees or train existing ones who 
can put digitisation into place. You need 
to introduce new roles in your company, 
like data scientists, user interface 
designers, or digital innovation 
managers. And you'll probably need to 
update existing job profiles to take into 
account new digital skills.
Improving processes 
One of the most important changes 
is to focus on an end-to-end process 
perspective. That will foster new 
collaboration models. Strong user 
interfaces are very important to meet 
growing expectations and enable 
consistent user experiences across 
different channels. 
There are also a number of changes 
needed to build digital trust. These 
include processes to prepare data 
security approaches, access rights 
control and setup standards in 
managing sensitive customer data, 
and compliance processes. You'll need 
to establish information assurance 
compliance to oversee and evaluate 
security requirements. Your goal should 
be to ensure information security and 
trust in a collaborative environment by 
providing an end-to-end management 
of risks, threats and security issues.
Implementing new technologies
Not surprisingly, new technologies will 
be core to Industry 4.0 pilots. One of 
the most important will be to develop 
an agile IT function that can respond 
flexibly to business demand.  By 
focusing on creating working solutions 
and responding to new requirements in 
an agile approach, an agile IT function 
helps you continuously improve 
services. 
The other core technology capability 
is likely to be internet of things (IoT) 
management to monitor, control and 
orchestrate large amounts of diverse 
devices and provide central IoT services. 
This includes providing functionalities 
(via software upgrades), communication 
standards and connectivity and to 
ensure an appropriate level of security.
Make sure to keep 
a strong focus on 
building digital 
trust. Your goal 
should be to ensure 
information 
security and trust 
in a collaborative 
environment by 
providing an end-to-
end management of 
risks, threats and 
security issues. 
31
Building the digital enterprise
Become 
a data 
virtuoso  
Identifying and gathering the 
right data, deploying it for the 
right purposes and effectively 
analysing it will be critical to 
make the right Industry 4.0 
decisions. 
Defining and developing an effective 
data analytics strategy will require a 
focus on:
	 Predictive	analytics	and	forecasting
	 Prescriptive	analytics
	 Business-driven	decision-making
	 Automated	feedback	to	the	
organisation and connectivity to 
employees
Consider how you can best organise 
data analytics; cross-functional expert 
teams are a good first step. Later these 
capabilities can be fully embedded 
as a standalone function in your 
organisation. 
Companies will need to improve master 
data management - defining, cleaning up 
and maintaining data. A first step should 
be the identification of 'functional use 
cases' for early deployment. You'll need 
to build your own data pool, based on 
real-time cross-functional and externally 
connected data, as well as develop a 
suite of analytics tools, connected to 
existing and new data sources. To get 
value out of that data, you'll also need 
build direct links to decision-making and 
to intelligent systems design. 
A key decision facing companies is the 
choice of data analytics platform, with 
the ideal being one single integrated 
solution. Existing ERP systems do not 
have full capabilities to handle the 
more sophisticated data trends, analytic 
methods and algorithms that need to 
be used to provide the more advanced 
business intelligence and foresight that 
will be needed in the Industry 4.0 era. 
A more sophisticated approach would 
be to invest in a data integration layer 
that is linked to the ERP systems and use 
tailored analytics tools by use case.
Transform 
into a digital 
enterprise 
Lack of digital skills and 
transformation culture top the 
list of the challenges identified 
by survey respondents. We 
have already highlighted how 
important strong data analytics 
capabilities are, but Industry 4.0 
calls for other technical skills as 
well.
Many industrial companies will need to 
develop digital skill sets around creative 
digital strategy design, technology 
architecture and design, user 
experience design, or rapid  prototyping 
capabilities.
Without the right digital culture, the 
best talent will not want to stay. But 
what does a true digital mindset look 
like? It's highly collaborative, crossing 
company boundaries and outward to 
partners and customers. Companies 
that remain constrained by functional 
silos are unlikely to achieve the 
integration that is so central to Industry 
4.0.
Cultivating a digital environment can 
only happen with committed leadership. 
Some organisations task the CIO with 
leading the digital transformation, 
while others appoint a CDO or other 
executive to lead the effort.  Some 
companies establish a digital council 
that actively manages the development 
of digital enhancements, products, and 
services from the idea stage through to 
the rollout in operating units. A digital 
council can support cross-functional 
teams in proactively managing a digital 
pipeline.
Digital transformation will only happen 
if top management places Industry 4.0 
squarely at the centre of the C-suite 
agenda and makes it a top priority. 
32
2016 Global Industry 4.0 Survey
Actively plan 
an ecosystem 
approach  
Industry 4.0 needs to extend 
far wider than horizontal and 
vertical integration within 
your own organisation. First 
movers achieve breakthrough 
performance by going a step 
further to understand consumer 
needs and use digital technologies 
to create and deliver value to 
the customer in an integrated, 
innovative solution. 
Fundamentally this is about developing 
complete product and services solutions 
for your customers. Companies 
can evolve their market offering 
across four layers moving from a 
traditional, physical core product to a 
comprehensive digital ecosystem play. 
In the earlier stages, use partnerships 
or align with platforms if you cannot 
develop a complete offering internally.
Real breakthroughs in performance 
happen when you actively understand 
consumer behaviour and can 
orchestrate your company's role within 
the future ecosystem of partners, 
suppliers and customers. 
As the value of an ecosystem is driven 
by the number of involved partners 
and the intensity of their relationships, 
the biggest challenge is to set the right 
incentives and find suitable benefit 
sharing models that compensate 
everyone fairly for his contribution. 
The most basic business model in an 
ecosystem is a marketplace, which 
brings together multiple sellers 
and buyers capturing value from 
commissions on the transaction value.
You may find it difficult to share 
knowledge with other companies, and 
you may prefer acquisitions. But look 
for ways to bridge this gap  perhaps 
with technical standards  so that you 
can profit from being part of digital 
ecosystems, even if you don't fully 
control the entire value chain.  
Digita
l Ecosystem
Digit
al Service
Di
git
al AugmentationCore 
Product
Physical
Digital
Digital Ecosystem: With interfaces to suppliers, 
partners & customers the product is 
embedded in an ecosystem for co-creation 
and additional/ new value capture
Digital Service: Digitally enabled services which, 
in combination with a physical product, can 
provide an end-to-end solution to a broader 
customer need
Digital Augmentation: Digital customer 
interfaces, visualisation, touchpoints and 
channels augment the experience and allow a 
variety of interaction models
Core Product: Two possible options at the core
 Digital:  Data and IT define the product's value  
 
proposition and generate standalone 
 
revenues
 Physical: Traditional base offering, which can  
 
be 'digitised' by adding digital layers  
 
around it
Moving from a product-oriented to a platform-focused approach
33
Building the digital enterprise
About the survey 
The PwC Global Industry 4.0 
Survey is based on research 
conducted between November 
2015 and January 2016 with 
over 2,000 senior executives from 
industrial products companies in 
26 countries across Europe, the 
Americas, Asia Pacific, Middle 
East and Africa.
The majority of participants were 
Chief Digital Officers or other senior 
executives with top-level responsibility 
in their company for Industry 4.0 
strategy and activity. 
Results were weighted by country GDP 
to provide a balanced view in global 
totals.
Industry
split
21%
19%
11%
10%
4%
9%
9%
8%
8%
2% Aerospace, defence & security
Industrial 
manufacturing
Engineering & 
construction
Chemicals
Electronics
Transportation 
& logistics
Automotive
Other
Metals
Forest, paper & packaging
Company
Revenue 
Split
21%
17%
13%
31%
18%
Between 100
and 200 
Between 200
and 500 
Between 500
and 1,000 
Between 1,000
and 5,000 
in millions of euros
Greater than 
5,000
Industry split of surveyed companies
Revenue split of surveyed companies
34
2016 Global Industry 4.0 Survey
Contacts and 
acknowledgements
Authors of the Study 
Dr. Reinhard Geissbauer 
Head of EMEA Industry 4.0  
Digital Operations Team 
+49 170 939 1263 
Reinhard.geissbauer@strategyand.de.pwc.com
Jesper Vedso 
Global IP Industry 4.0 Champion  
+45 3945 9144  
jrv@pwc.dk
Stefan Schrauf 
Head of PwC Strategy& Industry 4.0 Team for 
Germany 
+49 895 790 5317 
stefan.schrauf@strategyand.de.pwc.com
Project Management  
Usha Bahl-Schneider 
Stefanie Zuberer
PwC thanks all the participants who took time to participate in the survey 
This is the second edition of our Industry 4.0 survey, and the first truly global survey.  
We would also like to take this opportunity to thank the Industry 4.0 survey project team  
and PwC colleagues around the world who have helped make this report possible.
Editorial Board  
Michael Bruns 
Steve Eddy 
Derk Fischer 
Ralf Hombach 
Bjorn Johansson 
Kumar Krishnamurthy 
Elizabeth Montgomery 
Achim Reimann 
Costas Vassiliadis 
Ruud Wetzels
Data analysis   
Morten Grunwald 
Oliver Krieg 
Marc Mnch 
Jens Wunderlin
Industry 4.0 Contacts
Australia 
Matthew Benwell  
+61 407 045 947 
matthew.benwell@au.pwc.com
Andreas Wasita 
+61 433 998 421 
andreas.wasita@pwc.com
Austria 
Alexander Soukup 
+43 1 501 88 2973 
alexander.soukup@at.pwc.com
Jrg Busch 
+43 1 501 88 1105 
joerg.busch@at.pwc.com
Brazil 
Sergio Alexandre 
+55 11 3674 2000 
sergio.alexandre@pwc.com
Ronaldo Valino 
+55 21 3232 6139 
ronaldo.valino@pwc.com
Canada 
Matthew Wetmore 
+1 403 509 7483 
matthew.b.wetmore@pwc.com
China 
Grace Tang 
+86 10 6533 2999 
grace.tang@cn.pwc.com
Denmark 
Jesper Vedso 
+45 3945 9144 
jesper.vedso@dk.pwc.com
Finland 
Antti Niku 
+358 9 2280 1512 
antti.niku@fi.pwc.com
Kimmo Nieminen 
+358 40 5780 377 
kimmo.nieminen@fi.pwc.com
France 
Benoit Romac 
+33 1 44 34 30 83 
benoit.romac@strategyand.fr.pwc.
com
Germany 
Dr. Reinhard Geissbauer 
+49 89 5790 6138 
reinhard.geissbauer@strategyand.
de.pwc.com
Stefan Schrauf 
+49 89 5790 5317 
stefan.schrauf@strategyand.de.
pwc.com
India 
Bimal Tanna 
+91 22 6669 1555 
bimal.tanna@in.pwc.com
Sudipta Ghosh 
+91 22 6669 1311 
sudipta.ghosh@in.pwc.com 
 
Italy 
Gabriele Caragnano 
Milan 
+39 02 6672 0445 
gabriele.caragnano@it.pwc.com
Japan 
Masahiro Ozaki 
+81 3 5251 2844 
masahiro.ozaki@strategyand.jp.pwc.com
Naohide Nomura 
+81 3 5251 2844 
naohide.nomura@jp.pwc.com
Luxembourg 
Gilles Vanderweyen 
+352 49 48 48 2156 
gilles.vanderweyen@lu.pwc.com 
Mexico 
Arturo Martinez 
Mexico City 
+52 55 5263 8516 
arturo.martinez@mx.pwc.com
Middle East 
Dr. Anil Khurana 
+971 4 304 3652 
anil.khurana@ae.pwc.com
Netherlands 
Michel Mulders 
+31 8 8792 3165 
michel.mulders@nl.pwc.com
Poland 
Mariusz Dziurdzia 
+48 7 1366 1217 
mariusz.dziurdzia@pl.pwc.com
Maciej Korzeniowski 
+48 2 2746 6106 
maciej.korzeniowski@pl.pwc.com
Portugal 
Antonio Correia 
+351 22543 3248 
antonio.correia@pt.pwc.com
Joao Rui Baptista 
+351 21359 9344 
joao.rui.baptista@pt.pwc.com
Singapore 
Whee Teck Ong 
+65 6236 3388 
whee.teck.ong@sg.pwc.com
South Africa 
Pieter Theron 
+27 11 287 0501 
pieter.l.theron@za.pwc.com
Tielman Botha 
+27 11 287 0638 
tielman.botha@za.pwc.com
Spain 
Charles Kirby Isasi 
+34 944 288 800 
charles.kirby.isasi@es.pwc.com
Sweden 
Stefan Hedvall 
+46 10 212 9661 
stefan.hedvall@se.pwc.com
Switzerland 
Roger Mller 
+41 58 792 16 37 
roger.mueller@ch.pwc.com
UK 
Bjrn Johansson 
London 
+44 7900 163265 
bjorn.johansson@strategyand.uk.pwc.
com
US 
Robert McCutcheon 
+1 412 355 2935 
robert.w.mccutcheon@pwc.com
Kumar Krishnamurthy 
+1 248 390 0940 
kumar.krishnamurthy@pwc.com
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