IoT transforming industries

By OEM Update Editorial June 11, 2018 4:33 pm IST

Palanisamy PL,
Director – Sales, Manufacturing and Services, Danfoss Drives
With emerging and advanced technologies like Internet of Things, 3-D Printing, Big Data and analytics, players are empowered to design, modify and create products and solutions that customers are looking for.

Future look for IIoT in manufacturing
According to a report by PwC titled – Industry 4.0: Building the Digital Enterprise, over 53 per cent of industrial companies are dependent on data analytics and 90 per cent of these companies expect data to play a significant role in their decision-making process.

Palanisamy PL, Director – Sales, Manufacturing and Services, Danfoss Drives, informs, “With emerging and advanced technologies like Internet of Things, 3-D Printing, Big Data and analytics, players are empowered to design, modify and create products and solutions that customers are looking for. Through these technologies, companies are now able to produce customer-centric solutions which should ideally be the main architecture of our design principles.”

Industries should also look at incorporating design thinking in their products to ensure we build them in such a manner that helps customers connect to various devices and gain maximum value from the products and solutions which shall help companies explore new revenue opportunities. However, it is important to keep in mind that digitisation can be disruptive. It is fundamental that companies ensure that the golden triangle of change is ready to make the transition i.e. people (who are at the crux), processes (which require human intervention) and technologies (that help perform processes).

With the advent of digitisation and smart manufacturing, by enhancing skillset and adopting ‘smart manufacturing’, the Indian manufacturing sector has the potential to grow six-fold by 2025 up to $ 1 trillion, creating up to 90 million jobs thus positioning India as one of the top three destinations by 2020.

Danfoss’s preparedness in the area of IIoT

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