Industry 4.0: Industrial Revolution of the 21st Century.

Abstract

The authors formulate the concept of Industry 4.0 within the modern economic theory and determine the fundamental provisions of the concept of knowledge economy. Also, the scientific and methodological approach to studying Industry 4.0 in the conditions of knowledge economy on the basis of the theory of economic growth is substantiated. The authors determine the main stages of formation of Industry 4.0 and the key indicators of its development and offer the criteria of evaluation of effectiveness of Industry 4.0 from the point of view of stimulating the development of knowledge economy. The authors analyze the accumulated experience of formation and development of Industry 4.0 in the economic practice of different countries and systematize successful experience of formation of Industry 4.0. Also, potential future outlines of knowledge economy with developed or dominating Industry 4.0 are determined, and priorities of development of Industry 4.0 in modern economic systems that are characterized by different progresses in the sphere of knowledge economy formation are offered and substantiated.