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Tech’s Still A Strange Word For Manufacturers Here

Over 62% of Indian manufacturers, including those in labour-intensive sectors like automotive, industrial goods and heavy manufacturing, are still at the third industrial revolution in terms of technology and want to exhaust low-cost options rather than implementing high-cost technology that automates functions, a study by management consulting firm, Russell Reynolds Associates found. Here’s why Indian manufacturers want to take their time to adapt to ‘Industry 4.0’.

Industry 4.0 represents a combination of:

  • Cloud
  • IoT
  • Robotics
  • Augmented reality
  • Additive manufacturing
  • Big data & analytics
  • Cybersecurity

Key reasons for slow adoption

  • Paucity of talent
  • Difference in tech adoption between vendors and manufacturers
  • Complex government interfaces
  • Abundance of cheap labour overshadowing
  • Cost of smart connected devices―India Finance News
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