Industrial production is currently undergoing a fundamental transformation, leading towards a digitalized and interconnected industrial production, which is subsumed under the term Industrial Internet (of Things) or Industrie 4.0. This paper discusses the changes that digitalization is expected to bring about in the industrial sector by comparing a highly industrialized (Germany) with a major emerging industrial economy (China). We conducted two empirical surveys asking manufacturing companies from different sectors in Germany and China respectively, how they expect the digitalization of their processes will affect them. Both questionnaires addressed the future of work in production and the future of production itself. The main contribution of this paper is its empirical investigation of how the digitalization of industry is likely to affect sustainability aspects of manufacturing companies in two countries with very different industrial structures. Our findings suggest that this transformation will not only impact the ecological dimension (resource efficiency, renewable energy), but that the technical transformation is likely to be accompanied by social transformations.The findings of this paper will help decision-makers in the political sphere to anticipate and shape pathways towards a more sustainable future in the industrial sector.