Panasonic eyes Rs.1000 crore revenue from smart factory solutions business in 3 years

Japenese consumer electronic Panasonic has announced that its plans to ramp up its smart factory solutions business in India, is targeting a revenue of around Rs 1,000 crore from the segment in three years.

Panasonic also expects its solution and digital manufacturing to contribute around 15 percent to the total revenue from the smart factory business.

"The company targets to achieve Rs 1,000 crore in revenue from its smart factory business in the next three years, with solutions and digital manufacturing expected to contribute 15 percent to the total smart factory business revenue," said Panasonic.

"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," Hiroyuki Aota - President & CEO, Global Panasonic Smart Factory Solutions said.

The company is also planning to open a technical center for its smart factory solutions which will act as a strategic base that validates smart factories with customers and be used as a training center where customers can learn the skills required to operate a digital factory.

Manish Sharma, President & CEO Panasonic India said, "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. We are extremely focused on building solutions that cater to the real needs of our customers and will aggressively ramp up our portfolio of smart factory solutions."

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.