Reality Check Do IIoT Solutions make business sense
21st century is billed as Asian century, While western world tries to bring back its manufacturing, Asian economies are gearing to improve upon the gains of last 3 decades. This presents a unique opportunity in which Asian nations try to build modern manufacturing infrastructure which can not only satisfy internal but also export demands.
Nations like India are looking at Gross Manufacturing Product of $1Trillion, this means an investment of almost $800 Billion in next 3 years. It’s understandable that this kind of investment will not be in conventional manufacturing setups and in order to satisfy fast changing consumer taste, factories of future shall be Agile, Flexible and should be able to quickly turn around to adapt business requirements.
I would like to discuss Practical challenges in implementation of IIoT concepts and white spaces which needs to be covered by Technology & Service providers.