Carl Martin Welcker, the president of Germany’s Mechanical Engineering Industry Association (better known as the VDMA), has said that his country is in “a good position for Industry 4.0”, which includes cyber-physical systems, the Internet of things and Cloud computing.

Speaking at the recent Hannover Messe 2017, Mr Welcker (pictured) said: “Industry 4.0 is the interface of industry and IT.

The world of connected and digitalised production is increasingly finding its way into the factories of mechanical engineering companies.

At the same time, questions of data and know-how protection still need clarification. “Industry 4.0 must be more deeply anchored in company strategy, and qualified personnel are of vital importance. Data-based services and networked products allow for new business models. The financing of Industry 4.0 projects must be secured in the early stages.”