Manufacturing has emerged as one of the high growth sectors in India. Prime Minister of India, Mr. Narendra Modi, had launched the ‘Make in India’ program to place India on the world map as a manufacturing hub and give global recognition to the Indian economy. India is expected to become the fifth largest manufacturing country in the world by the end of the year 2020.
According to a joint report by IAMAI and Deloitte, in India, Industrial IoT will have the lion’s share of the revenue from the overall IoT by 2020. The overall IoT market is projected to grow to $12 billion by 2020, according to the report, and within the IIoT segment, the energy and utility sector and the industrial manufacturing sector will together account for roughly 43% of this market.
Most of the manufacturing industries in India are still continuing their operation processes conventionally. This is consuming their lot of time for problem identification and resolving the same. What if there is a system which makes your devices intelligent by providing them the ability to connect and exchange information, lets you securely connect and process IoT data at scale and make operational decisions that impact your business and integrates information from your plant-floor systems to provide insights.
Keeping the above points in mind, three friends recognized the massive potential and opportunity in this space in India and decided to build a company around helping the industrial world adopt IoT. Having been in the enterprise technology space and worked for marquee companies such as Persistent Systems, Amazon, BMC Software, and Bladelogic, the trio – Ranjit Nair, Vinay Nathan, and Yogesh Kulkarni – believed that they had the expertise to build an entrepreneurial venture in the IIoT space. They were not wrong; in 2013, they launched Altizon, an IIoT tech platform.
Altizon empowers Industrial Digital Revolutions globally by helping enterprises use machine data to drive business decisions. We enable digital transformation in enterprises by accelerating Smart Manufacturing initiatives, modernizing Asset Performance Management and pioneering new Business Models for service delivery. The Datonis IIoT platform accelerates IT/OT integrations by helping quickly connect diverse industrial assets and launching new applications over a hybrid infrastructure with edge computing, advanced in-stream analytics, an application development framework and Deep Learning capabilities.
Altizon has partnered with over 35 companies in their specific domain/vertical and has outsourced its support functions such as legal and finance. With a team of about 50 employees operating out of its India (Pune) and North America office, the IIoT startup primarily caters to the automotive, tyre, chemical, FMCG, metal, and energy & utility industries. The company’s estimated annual revenue is $2.5 million.
Digitalization has entered every aspect of our lives, and the same is true for businesses, especially in manufacturing. This industry is witnessing a significant transformation in the way products are being manufactured, or rather the processes that enable manufacturing. Such is the impact of this digital transformation that it is being called Industry 4.0 or the fourth industrial revolution.
A separate report from Assocham-EY says IoT has the potential to reach 2 Bn connections in India, thereby unlocking revenues of $11.1 billion by 2022. It also predicted a trillion-dollar digital economy in India by 2022, which would be key to Industry 4.0.
The Indian government is also doing its part to accelerate the adoption of IoT and other Industry 4.0 components and create awareness around best practices. In order to do so, it has partnered with various industry bodies to create a thriving environment and take Indian manufacturing to the next level.
You can also become a part of Industry 4.0 by revolutionary changing our Indian Industry sectors with the help of IoT and assisting them to overcome the issues, contributing to the ‘Make in India’ program to place India on the world map as a manufacturing hub. If they can do it, you too can!!!
Become an Innovation Catalyst with Bots ‘N Brains to solve the problems around us and help India become a better country.
Edited by Saket Dethe