Digital Transformation in the Indian Manufacturing Sector, 2016
Frost & Sullivan (F&S) determines digital enterprise transformation as a set of activities that will reform business processes, empower stakeholders and provide new revenue models using digital technologies (such as Social Media, Mobility, Big Data and Analytics, Cloud technologies, IoT & Automation, and Cyber Security) and by embracing new digital avenues. In the National Digital enterprise readiness Index- survey, F&S has extensively covered the adoption of these digital technologies in transforming the business and creating new opportunities for growth.
Manufacturers will increasingly use digital manufacturing tools to fully connect all aspects of the product lifecycle and leverage data to optimize and enhance equipment functionality and create high quality products on demand in a more sustainable manufacturing environment.
Growing digitization, connectivity, cloud computing, dynamic customer preferences, Internet of Things (IoT), cybersecurity, and increasing automation are the key trends driving manufacturing sector to invest in IT.
Analytics enables unleashing the power of internal and external data gathered from various mediums through data discovery and visualization and advanced analytics. Correlations between customer data, scheduling, and predictive maintenance of machinery are few new capabilities provided by Big Data analytics for the manufacturing sector. This enables the potential for identifying patterns in the ecosystem that will propose better operational efficiency followed by shorter manufacturing downtime and work process decision making.
Enterprise cloud allows a company to leverage cloud computing for critical as well as non-critical applications, thereby ensuring business agility, collaboration, and long-term cost savings. Cloud-based manufacturing solutions have the capability to reduce infrastructure, maintenance, and lifecycle costs by as much 54%. However, only about 30% of the manufacturing companies leverage cloud technology.
The Internet of Things (IoT) is a platform in which all objects that are identified through unique identifiers, communicate with one another to transfer data over a network without any human intervention in a business environment. Proactive measures are required for securing access, networks, data, applications, and the perimeter. This is the key to achieving the smarter workplaces of the future.
In India, CIOs are adopting digital technologies at various levels based on the immediate need of organizations and revenue goals. There is a lack of holistic approach which is essential for long-term benefits. The study gives a perspective both about the demand and the supply side of the market to identify the maturity of the solutions available and also the levels of DT activities across various industries in the country. The study analyzes the challenges and drivers of digital transformation (DT) in India and also analyzes the levels of DT activities in major industries such as healthcare, manufacturing, BFSI, retail, and other sectors.
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