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IOT & Innovation

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International Data Corporation (IDC) India, the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets, have recently released a research report on Innovative Use Cases for the Adoption of Internet of Things in India (IoT) Manufacturing. Product innovation, which continues to be a top-ranking business priority today from boardrooms to the drawing boards, is not limited only to the design of new products in today's competitive environment. As innovators actively seek new product functionalities and business models in today's competitive world, IoT is emerging as one of the key tools in this journey.
IoT is fast emerging as an imperative technology in this spectrum of innovation with a more rapid adoption by manufacturing organisations and service providers in India compared with other 3rd Platform technologies. "Innovative companies will realise the value of IoT and start including it in their technology and product road map. Companies that make it collaborative in nature, cutting across departments, and embed it as part of the product and not a technology implemented on its own, will realize the value it offers better and faster," says Ramachandran S, principal research manager, IDC Manufacturing Insights. Process research and development groups can be a way of forming such collaborative groups that do not limit their research to products or technologies in isolation but also include process and organizational transformation that enterprises need to undergo in order to adopt IoT.
The report thus is a result of detailed study and analysis on how IoT is being adopted as a tool for innovation starting from processes within the shop floor to supply chains and for products and services. .  IoT has reached a level of maturity where the major challenge seen in its adoption is not the cost involved or the ROI but infrastructure constraints and scalability.
IoT is the most adopted among what IDC calls the "Innovation Accelerators" in India followed by Security, the other technologies being robotics, 3D Printing, natural interfaces and cognitive systems. It is also a technology expected to see significant growth in the next 2 years. IoT is becoming a vital technology in this spectrum of innovation and has seen a fast pace of adoption from multiple manufacturing organisations and service providers in India compared to other 3rd Platform technologies
The three broad categories of IoT use cases are the following:
  • Smart manufacturing - implementation within the factory to continuously monitor critical assets, equipments, process and product parameters for better yield, utilisation and proactive identification of issues before they cause any disruption to production. This is not a totally new area of implementation. But there are open standards being developed. Traditional enterprise IT systems are gearing up to accommodate the IoT requirements easily making the implementation a more repeatable process and not a unique project.
  • Connected products - IoT for products giving continuous feedback about their location, and performance after they are put into service in the field, using telemetry for remote monitoring. This opens up new business models such as product-as-a-service for costly assets such as construction and agriculture equipment. End users not buy the equipment but use its services only for a specific period of time and pay only for that based on hours of usage.
  • Connected supply chain - IoT for keeping track of inbound and outbound shipments for location related information, timely order fulfillment and critical in-transit parameters such as temperature.

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