Panasonic has announced plans to boost its smart factory solutions business in India, targeting Rs 1000 crore in revenue from its smart factory business in the next three years.
In a corporate blog post, the Japanese multinational electronics corporation said smart factory solutions and digital manufacturing are expected to contribute 15% to the total smart factory business revenue.
It said it also plans to open a technical center for its smart factory solutions, which will also be used as a training center for customers to learn the skills required to operate a digital factory.
“The company is focused on building India as its innovation hub for the globe, and create a strong ecosystem of component and automated manufacturing in the country,” the company said.
Hiroyuki Aota, President & CEO, Global Panasonic Smart Factory Solutions, was quoted in the blog post as saying that Panasonic’s legacy and heritage in producing cutting edge technology for more than 100 years gives it a unique advantage.
“India is adopting new age technologies such as 5G, IoT, AI and others at a rapid pace and we will only see more investment in these technologies as we move forward. To be able to cater to these growing demands, having the right and smart capabilities in manufacturing will be key, and this is what we are addressing today,” he said.
To date, the company said it has integrated its welding business and SMT (Surface Mount Technology) equipment business to consolidate its software and hardware capabilities and become an end-to-end integrated Smart Manufacturing Solutions company.
The smart factory solutions are for manufacturers looking to take a forward leap in smart manufacturing through solutions such as integrated line management system (iLNB), automated process tracker, digital reporting system and more.
Manish Sharma, President & CEO Panasonic India, affirmed that India today is at the helm of digital transformation.
“Today, manufacturers require improvements not only in process automation but also in productivity and quality across the entire production cycle and factory as a whole. The key technology to realize a Smart Factory is to connect various equipment through the Internet of Things (IoT), to synchronize them and collect and control data from the equipment in real time for entire production processes,” he said.