San Jose, California, USA – September 20, 2018: Syrma Technology, a leader in electronic design and manufacturing services serving global OEMs, A popular speaker at India electronics industry events, presents at the Indo-American Chamber of Commerce’s Seminar on Industry 4.0, which took place June 20 in Chennai. Syrma’s CEO Sreeram Srinivasan was invited to join the schedule of the presenter to discuss his presentation on the same topic at last year’s ELCINA CEO Summit in Bangalore. Industry 4.0, also termed the 4th Industrial Revolution, represents a quantum leap in factory manufacturing innovations, the convergence of precision robotics, embedded sensors, and advanced machine-learning algorithms, as well as other leading-edge advancements to ultimately form the Industrial Internet of Things (IIoT).
In his latest presentation, Sreeram discussed the explosive proliferation of IIoT toward an eventual fully autonomous factory floor, driven by artificial intelligence and cost-effective acquisition, transmission, and storage of data to deliver streamlined, efficient manufacturing processes with dramatically improved outputs. Among the key points Sreeram highlighted in his presentation:
- The global IoT revolution is projected to skyrocket beyond 20 billion connected devices by 2020, according to research by Deloitte for NASSCOM, creating a total worldwide market of as much as between $3.9 to $11 trillion by 2025 (Mckinsey Report 2015) of which nearly a quarter will be networked IIoT equipment in factory settings.
- India ranks among the world’s leaders in the aggressive development and implementation of IoT technology, with currently over 120 established vendors, at least 60 % of which are startups, controlling a 43% global market share. IoT-connected products within the India market is projected to exceed 1.9 billion units by 2020, with corresponding domestic revenue beyond $9 billion.
- Low-power wide-area networks (LPWAN), such as Bluetooth are proving to be the preferred wireless IIoT communication protocol over WiFi or 4G/5G WAN, due to general signal reliability and lower overall costs, including relatively inexpensive chipsets and lower energy demands in industrial environments. Meanwhile, unit costs of embedded sensors continue to drop, while baseline processing speeds climb.
- Another key driver of the IoT revolution is the exponential growth of global data storage, from under two zettabytes (trillion gigabytes, or ZB) of total stored data before 2013 to 16ZB by 2016, growing to 40ZB by 2020 to a colossal 163ZB by 2025, according to projections in a 2017 Seagate white paper. Over half of total worldwide data storage will be hosted in the cloud.
Industry 4.0 Challenges Ahead
While data storage technology grows in quantum leaps, the actual application of those resources, interoperability, data mapping, and AI predictive modeling, still largely lags behind. Data security will remain a pressing issue, with only a predicted 35% of data adequately safeguarded by 2020, growing to only 45% by 2025. Industrial enterprises must adapt their existing business models to reap maximum benefit from IIoT data technology. IIoT innovations are poised to deliver stronger benefits to advanced manufacturing economies, enabling the USA to potentially outperform China by 2025. Further development of IIoT in manufacturing will require additional capital investments in infrastructure, equipment, and supporting IT upgrades. As IoT and Industry 4.0 automation continue to spark a rapidly approaching Information Age, Syrma, arguably the largest manufacturer of IoT devices in India, is poised to help OEMs incorporate AI into leading-edge products.
About Syrma Technology
Syrma provides global OEMs with electronic manufacturing services (EMS), backed by strong engineering expertise, to reduce risk and costs on product designs and manufacturing. From RFID technology and power electronics to turnkey manufacturing services and custom magnetics, we deliver high-mix, flexible volume products for automotive, computing, defense, industrial, medical, power, and telecom companies. Within the last decade, we’ve helped to design, manufacture, and market more than 200 million products worldwide. Syrma is headquartered in Mumbai, India, with multiple state-of-the-art manufacturing facilities, including our flagship 120,000 square foot location, in Chennai, India. Syrma is a wholly-owned subsidiary of the Tandon Group, a technology holding group which has grown multiple technology companies since 1975.
To learn more about this topic, please contact us.