As IOT market is growing in India, we are finding more and more partners taking interest in IOT solution building. We spoke to Ashish Nene, CEO, Precimetrix to understand the market. excerpts…
What all solutions available from Precimetrix?
At Precimetrix we work with our customers in manufacturing and Industrial Product OEM businesses to offer Asset Monitoring, Plant Monitoring, Predictive Maintenance and Utilities Monitoring solutions. Precimetrix is an IOT/Analytics platform and we are a Microsoft ISV partner in Asia.
Like Samudra Electronic System Pvt. Ltd., which other companies are the clients of Precimetrix which are involved in this kind IOT projects?
Precimetrix has deployed its solutions in companies like Amphenol, FIAT, Finolex Cables, Hero Moto Corp. We also work with several OEM customers to help them monitor and control remotely deployed assets.
“Precimetrix has deployed its solutions in companies like Amphenol, FIAT, Finolex Cables, Hero Moto Corp.”
What kind of activity happening at India level as far as IOT is concerned?
Manufacturing and healthcare are the leading verticals where IOT solutions are expected to be implemented. Next generation commerce along with Automotive/Transportation/Logistics are poised to gain adoption with connected vehicles and systems.
What are the major challenges and concerns for the CIOs?
CIOs are primarily concerned about ROI from the solutions deployed from a business point of view. They are also concerned about solution extensibility to other areas of business areas, interoperability and interfaces with other LOBs (solutions), data security (IOT on cloud). CIOs also want to ensure that the vendor they work offer them the flexibility to customize the solutions as per their industry needs and also bring along industry best practices that they can quickly adopt and learn from.
What is your opinion on IOT growth in India?
As per NASSCOM and other industry experts, the IOT market in India is poised to reach $15 Billion by 2020 (5% of global market). The Indian government will also invest $1 billion in Smart city projects that will have an IOT component. More than 120 firms will offer IOT or related solutions (70% of IOT startups have emerged since 2010).
What are the feasible application areas in India?
Manufacturing, Smart Cities, Smart Grids, Healthcare, Smart lifestyle (including connected appliances and home automation) and connected homes/buildings are some of the business areas that will see IOT applications and solutions. Several solutions providers are already active in these application areas in India.
What are the opportunity and challenges with IOT technologies as far Indian condition is concerned?
The opportunity is huge and is applicable across some of the industries and businesses as indicated earlier. Some of the challenges that we have observed while implementing IOT solutions are:
- Security – concern over data and application security, especially if the solution is based on Cloud based platforms
- Lack of understanding – Most customers we have spoken to know that they need to implement IOT solutions, but there is a general lack of awareness of business impact and preparedness to adopt these solutions. Lack of use case scenarios also exist.
- Lack of standards – Lack of standards on security, data integration, protocols etc. in the IOT space exists today and we need to work with customers to help work with their IT teams for adoption.
- Low willingness to adopt – Early adopters are few and most customers don’t want to take risks. We therefore always start with pilot implementations to prove the use cases and ROI before undertaking large transformational implementations.
What are the core verticals where Precimetrix is specialist in?
Precimetrix has solutions for:
- Monitoring & Control solutions for the Manufacturing Industry (discrete, line and process manufacturing) – Automobile, Core engineering & Specialized products, Pharma.
- Asset Monitoring & Control solutions for Industrial OEMs (e.g. Material handling, Energy)
- Utilities Monitoring – Energy, Fuel, Compressed Air, Gas etc.
- Fleet Monitoring
Which are the major market for the company?
Precimertix is currently focused on the India and Asia Pacific markets.
How far are we from connected car environment in the country?
Connected cars are still in the testing phase in several countries and are part of most technology roadmaps of automobile companies. We see some of these solutions deployed in the real world in the 2-5-year window post thorough testing, approvals and standardization processes. Deployments in India will take longer.
Do you find any challenges from the regulation stand point?
There are no immediate regulatory challenges as these are yet to be specified by the Govt. (under consideration). When these regulations are indeed specified, Precimetrix will align with these (communication protocols, storage, data security etc.) as necessary. At present, we use standards that exist for communication between IOT devices, networks and the cloud.