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Hungary Prepares For Fourth Industrial Revolution

• 10 Jul 2018 9:30 AM
• Budapest Business Journal

Interest in modern industrial solutions in the fields of automation, renewable energy and drive technology has grown by more than 50% compared to last year, claims new research.

Research by táblázat.hu, a Hungarian online b2b marketplace, emphasizes the growing need for automation-related industrial solutions. Compared to the first half of 2017, interest has grown by 80%, according to a press release.

In 2017, the value of requests for quotation on táblázat.hu grew by 7.5%, boosting the total amount to around HUF 14 billion.

Ádám Solt, táblázat.hu’s director, thinks that Hungary cannot ignore the fourth industrial revolution, also known as Industry 4.0.  

“Industry 4.0 is unavoidable in Hungary, as the interest in automation solutions is growing rapidly. This trend seems so timely that we had to introduce a new retail category, robot-technics, in June,” Solt says. 

Interest in drive technology is also skyrocketing, with the same period seeing a 70% increase on táblázat.hu. The first half of 2018 saw a growth of 69% in interest in renewable energy solutions, compared to the same period last year, the company says.

The main feature of Industry 4.0 is the intertwining relationship of the virtual and physical worlds. According to international consulting company KMPG, Industry 4.0 will expand to become a USD 4 trillion market. 

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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