India’s manufacturing sector is undergoing a profound transformation with the advent of smart and digital manufacturing technologies. As the country aims to become a global manufacturing hub, these advanced technologies are playing a pivotal role in revolutionising traditional manufacturing practices, enhancing productivity, and driving economic growth.
Digital technologies such as automation, robotics, IoT and artificial intelligence (AI) are transforming the manufacturing landscape and are now making inroads into the once conventional facilities. According to Rockwell Automation’s 8th annual ‘State of Smart Manufacturing Report,’ India boasts the largest number of manufacturing organisations making substantial investments in technology. The study also highlighted that 57 per cent of companies are using smart manufacturing solutions, while 59 per cent of companies intend to adopt digital technologies within the next year. Besides, several companies in India are embracing digital technologies to make their manufacturing more productive and efficient.
Furthermore, the report also delved into the top five technologies the manufacturers invested in and yielded the highest returns over the past year. While process automation secured a remarkable 33 per cent return on investment; cloud computing and software as a service (SaaS), on the other hand, stood strong with a solid 30 per cent return on investment (ROI). Industrial Internet of Things (IIoT)/ Internet of Things (IoT) delivered 25 per cent ROI; machine integration garnered 24 per cent, whereas Machine learning/ artificial intelligence delivered 23 per cent ROI.
This story is from the August 2023 edition of The Machinist.
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This story is from the August 2023 edition of The Machinist.
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