The Internet of Things (IoT) has revolutionised the way we interact with the world around us. IoT devices are smart devices that can connect to the internet, exchange data, and perform actions without the need for human intervention.
IoT devices have become increasingly important in recent years because they enhance efficiency, reduce costs, and improve productivity. One of the countries that have emerged as a leading player in IoT device manufacturing is India.
India is now a leading destination for IoT device manufacturing, with the industry expected to proliferate in the coming years. India’s IoT market is expected to reach $9.28 billion by 2025.
In this article, we will explore the benefits of IoT device manufacturing in India and why it is a cost-effective option for global businesses.
Exploring the Diverse World of Industrial IoT Platforms: A Guide to Various Types
IoT devices are powered by industrial IoT platforms that help them exchange data, process information, and perform various tasks.
Let’s look at the different types of industrial IoT platforms used by IoT device manufacturers in India:
1. Cloud-based IoT platforms
Cloud-based IoT platforms are built on cloud infrastructure and are managed by third-party providers.
These platforms allow IoT devices to store and process data on remote servers, making managing large amounts of data from multiple devices easier. Cloud-based IoT platforms are typically scalable, flexible, and cost-effective.
2. Edge computing IoT platforms
Edge computing IoT platforms process data closer to the source, reducing latency and improving response times. These platforms are designed to perform analytics and processing at the network’s edge, where the data is generated.
Edge computing IoT platforms are ideal for scenarios where real-time data processing is required, such as industrial automation, predictive maintenance, and smart cities.
3. Hybrid IoT platforms
Hybrid IoT platforms combine the benefits of cloud-based and edge-computing IoT platforms. These platforms allow data to be processed and analysed at the edge and in the cloud, providing the best of both worlds.
Hybrid IoT platforms are ideal for situations where some data processing needs to happen in real time while other data can be processed and analysed later.
Unveiling the Competitive Advantages of IoT Device Manufacturing in India
India has emerged as a global hub for IoT device manufacturing due to several benefits it offers. Here are some of the key benefits of IoT device manufacturing in India:
1. Cost-effective labour in India for IoT device manufacturing
One of the main reasons why IoT device manufacturers prefer India is the availability of cost-effective labour.
Compared to other countries, India has a large pool of skilled and unskilled workers who can be hired at competitive rates.
This allows manufacturers to keep their production costs low and remain competitive globally.
2. Low manufacturing costs for IoT devices in India
In addition to labour costs, the overall cost of manufacturing IoT devices in India is significantly lower than in other countries.
This is due to factors such as low real estate costs, favourable exchange rates, and government incentives for manufacturers.
These cost advantages enable Indian manufacturers to offer their products at a lower price, making them more attractive to buyers.
3. Favourable government policies for IoT device manufacturing in India
The Indian government has implemented several policies and initiatives to support the growth of IoT device manufacturing in the country. These policies include tax incentives, subsidies, and support for research and development.
Additionally, the government has launched several initiatives to promote the use of IoT in various sectors, such as agriculture, healthcare, and transportation.
These initiatives have created a favourable environment for IoT device manufacturers to operate and grow their businesses.
4. Ease of doing business for IoT device manufacturers in India
India has significantly improved its ease of doing business rankings in recent years, making it an attractive destination for foreign investors.
The government has streamlined several processes related to setting up a business, obtaining permits, and complying with regulations.
This has made it easier for IoT device manufacturers to establish their operations in India and focus on their core business activities.
Choosing the Right IoT Platform: Essential Factors for IoT Device Manufacturers in India
Choosing the right IoT platform is critical for IoT device manufacturers in India. Here are some factors to consider when choosing an IoT platform:
- Scalability: The IoT platform should be scalable enough to accommodate future growth and changes in requirements.
- Security: The IoT platform should have robust security features to protect data and devices from cyber threats.
- Integration: The IoT platform should easily integrate with other systems and devices.
- Analytics: The IoT platform should provide analytics capabilities to help manufacturers gain insights and make informed decisions.
- Cost: The IoT platform should be cost-effective, providing value for money.
Some Common Pitfalls to Be Avoided
Here are some common mistakes to avoid when choosing an IoT platform:
- Choosing a platform based solely on its price.
- Neglecting to evaluate the platform’s scalability and compatibility with your devices.
- Overlooking security features leaves your devices vulnerable to cyber threats.
- Selecting a platform without considering its integration capabilities leads to siloed data.
- Failing to consider the platform’s long-term cost and value for money.
IoT device manufacturing in India is a cost-effective option for global businesses. With a highly skilled workforce, low manufacturing costs, and ease of doing business, IoT device manufacturers in India are poised for significant growth in the coming years.
If you are an IoT device manufacturer in India looking for a reliable and scalable IoT platform, Oakter can help.
We are an Indian electronic contract manufacturing and designing company specialising in IoT devices and providing white-label manufacturing services for other companies. Currently, we ship 500k+ products each month.
Contact us today to learn more about how we can help you grow your IoT business.