Increasingly, companies are applying innovative solutions, including through the IoT, cloud computing, miniaturization and 3D printing, which will enable more interoperability and flexible industrial processes and autonomous and intelligent manufacturing. The physical components of industrial production are being transformed by smart, digital networking into cyber-physical systems, allowing for the management of production processes in real-time across great distances and customized products. It could further enable the transition to a circular economy, or industrial economy in which end-of-life products are reused, remanufactured and recycled.