In response to the ongoing advancements in Industry 4.0 solutions, the manufacturing industry is undergoing a profound shift in its business models. This transformative change is ushering in a new era marked by digitalization, smart automation, and data-driven decision-making. To explore this trend further, KPMG has released a comprehensive study titled Business Model Transformation: The next stage of Industry 4.0.The study examines the approaches that enterprises can adopt to effectively transform their businesses and leverage the opportunities presented by digitalization. These approaches encompass building new revenue streams, establishing direct-to-consumer channels, productising services, and enhancing cost competitiveness through IoT and automation-driven efficiencies.Sharing his insights on the report, Vinodkumar Ramachandran, Global Head of Industry 4.0, KPMG in India said “Collaboration is key to the success of these transformations, so partner with customers and suppliers. Nobody has all the answers. Also, include the rank-and-file workforce in the design and implementation process, by seeking the input of a cross-section of employees.”Key insights from the study shed light on the acceleration of business model transformation across the manufacturing industry, driven by the maturation of Industry 4.0 technologies and evolving customer demands. The report also outlines specific strategies for enterprises to create and implement new business models aligned with the digital era. Additionally, it addresses the challenges faced by organizations during technology-driven transformations and offers recommendations to overcome them.