In recent years, due to technological advancements, the concept of Industry 4.0 (I4.0) is gaining popularity, while presenting several technical challenges being tackled by both the industrial and academic research communities. Semantic Web including Knowledge Graphs is a promising technology that can play a significant role in realizing I4.0 implementations. This paper surveys the use of the Semantic Web and Knowledge Graphs for I4.0 from different perspectives such as managing information related to equipment maintenance, resource optimization, and the provision of on-time and on-demand production and services. Moreover, to solve the challenges of limited depth and expressiveness in the current ontologies, we have proposed an enhanced reference generalized ontological model (RGOM) based on Reference Architecture Model for I4.0 (RAMI 4.0). RGOM can facilitate a range of I4.0 concepts including improved asset monitoring, production enhancement, reconfiguration of resources, process optimizations, product orders and deliveries, and the life cycle of products. Our proposed RGOM can be used to generate a knowledge graph capable of providing answers in response to any real-time query.
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