Enhancing Product Development Through Industry 4.0 Requirements: Willingness to Pay Considerations in a Case Study in Food Processing Machine

Industry 4.0 represents a novel paradigm centered around digital factories, capable of integrating information technologies and machines with intelligent products. In this context, this article addresses the added monetary value resulting from adopting Industry 4.0 technologies in the development of a scraped surface heat exchanger equipment. This research aims to estimate the added value of a technology-based redesign of a food processing machine, considering the willingness to pay. The methodology employed to evaluate the integration of these technologies into the product is based on the Stated Preference (SP). The findings reveal a hierarchy among the enhancement opportunities that Industry 4.0 technologies bring to the product. Consequently, in this case, incorporating features from Industry 4.0 that encompass the maintenance aspects contributes significantly to the product’s value.