Harnessing the power of Internet of Things to transform Industry in India
Technology is redefining the potential of everyday products. The ‘Internet of Things’ (IoT) is likely to make everyday life better and easier by connecting everyday products with people. Used well, connected products can boost consumer engagement and deliver substantial value for both consumers and businesses across industries.
This opportunity has never been more significant, as more and more companies find themselves in desperate need to (re) engage with consumers and stay relevant. In an increasingly competitive market with brand loyalty at its lowest point, businesses are looking for creative ways to restore the lost connection with their consumer and influence buying decisions at the point of purchase.
In this report, we define and describe the concept of smart factory and explore ways on how companies can re-imagine customer relationships in the age of IoT:
• What it is, its key features, and the trends that have contributed to its rise
• The components and technologies that comprise the smart factory, and how it fits within the digital supply network
• How the smart factory can drive value and its other benefits
• Ways organizations can begin building and enacting a true, holistic smart factory
• How companies can differentiate themselves in the market, transform relationship with consumers and create value beyond the standard factory leveraging IoT