Connected Manufacturing in India
This IDC Manufacturing Insights Perspective looks at the challenges in the traditional manufacturing setup, the need for connected processes, the ecosystem of smart manufacturing, investments geared toward the Internet of Things (IoT), and use cases in connected manufacturing. It also provides applicable recommendations for the IT vendor community. The manufacturing setup in India has traditionally been slow at adopting technology, but the changing market requirements and consumer demands are forcing the sector to invest in IT applications and offerings that can foster product innovation and increase customer service quality to remain competitive. According to IDC IT spending guides, manufacturing IT spend in India was US$4.6 billion in 2015 and is projected to grow at a compound annual growth rate (CAGR) of 7.54% from 2015 to 19. National initiatives such as "Make in India" and the Goods and Service Taxes (GST) are expected to further fuel growth in India's overall manufacturing IT spend.
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