Although the German economy often finds itself confronted with the assertion that its digitization progress is on the slow side , a recent study by the consulting firm Bain & Company shows a positive picture of the current status of Industry 4.0 in Europe: European companies have apparently gained an edge over their US competitors by investing in IIoT technologies early on and advancing their digitization project three times as fast.

While cybersecurity issues are the biggest obstacle in both regions, US companies often continue to struggle with implementation – a starting problem that European companies have long left behind. According to Bain, their early experience in pioneering Industry 4.0 approaches currently gives them a significant competitive advantage. While Europe is already working on new business models, US companies are often still carrying out initial pilot projects.