THE MEASUREMENT OF INDUSTRY 4.0: AN EMPIRICAL CLUSTER ANALYSIS FOR EU COUNTRIES

Pavlína Hejduková; Lucie Kureková; Michaela Krechovská

doi:10.20472/ES.2020.9.1.007

Authors

Pavlína Hejduková University of West Bohemia, Faculty of Economics, Department of Finance and Accounting, Czech Republic Author
Lucie Kureková University of West Bohemia, Faculty of Economics, Department of Finance and Accounting, Czech Republic Author
Michaela Krechovská University of West Bohemia, Faculty of Economics, Department of Finance and Accounting, Czech Republic Author

DOI:

https://doi.org/10.20472/ES.2020.9.1.007

Keywords:

Industry 4.0, Fourth Industrial Revolution, Measurement, Indicators, Cluster analysis

Abstract

Based on findings regarding existing indicators for measuring Industry 4.0, the goal of this article is to develop a composite indicator and conduct a cluster analysis for EU countries. There is a relatively large body of academic research on the measurement of Industry 4.0, focusing on composite indicators that attempt to capture this phenomenon statistically. However, there are currently no available time series for these indicators. In the empirical section, we construct a new indicator—the “Industry 4.0 Relative Performance Index”—which is computed using the methodology of the World Economic Forum. The development of this composite indicator makes it possible to track Industry 4.0 performance over time and evaluate the relative positions of member states. Cluster analysis is conducted for the years 2011 and 2019, using data from Eurostat and World Bank statistics. The results of this paper may serve as guidance for future targeting of EU cohesion policy in the field of Industry 4.0 support, which may contribute to strengthening the position of the EU economy as a whole.

Data:
Received: 27 Mar 2020
Revised: 16 May 2020
Accepted: 6 Jun 2020
Published: 20 Jun 2020