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Here is a snippet from a recent interaction between team IT-Voice and Dr. Sreeram Srinivasan, CEO of Syrma Technology.
Prateek: Why it is important to focus on the Rapid Prototyping technologies and what it means for the country and the industry?
Dr. Sreeram Srinivasan: Quick prototyping support helps our customers to authenticate their designs, prototypes and iteratively refine products for flag-off and bulk production. It’s a key complementary service to our design services. Such support to Indian startups is critical as it allows them to refine product concepts before production commences. Quick prototyping is a part of our concept co-creation initiative – the early involvement helps our customers to improve their product development timelines.
Prateek: How do the EMS manufacturers leverage 5G to boost their businesses while the manufacturing industry moves towards industry 4.0?
Dr. Sreeram Srinivasan: 5G could be a game-changer for Indian Industry with the potential to create an economic impact of more than $1Tn by 2035. On the 5G value chain, connectivity and Infrastructure related gear will be the first movers for manufacturers and service providers. However, the bigger opportunity will result from the adjacencies like advanced handsets, dongles adapters, and USB terminals for the adoption and also the application side that leverages AI, M2M, etc.
High reliability, low latency connectivity on 5G offers a great chance for Digital strategies and Industry 4.0 for many manufacturing companies. Industries would transform to having real-time inventory, reliable robotic controls, real-time asset tracking, etc. In a way 5G complements the Industry 4.0 efforts providing a larger bandwidth for an integrated, connected, and automated workplace.
Prateek: As IoT adoption is growing rapidly across industries in India; does Syrma thinks the industry has the capabilities to manufacture IoT hardware to meet the country’s future requirements?
Dr. Sreeram Srinivasan: India is all set and ready to be a cradle for IoT deployments and the market is expected to reach $17Bn. by 2021 says reports. Syrma has a significant number of success stories in the design and manufacturing of IoT products spanning from Smart Toothbrushes to Smart metering for power consumption to Smart air conditioning. A major portion of Syrma’s revenue in the last 3~5 years comes from IoT-related products.
Prateek: Please tell us more about the company’s recent interesting projects undertaken in the IoT, smart devices, healthcare, and consumer electronics segments.
Dr. Sreeram Srinivasan: A few of our interesting projects to be mentioned are Smart Wearable devices, Wireless Patient Monitoring Systems, Smart Electric toothbrushes, intelligent dimmer & smart lighting controllers for homes and offices, Smart water and electric meters, etc. In addition, Syrma has been designing Smart air conditioning controllers that will become a massive emerging opportunity as India strives towards reducing its carbon footprint while ensuring the growth of its economy.
Prateek: What is the scope of the EMS industry in India?
Dr. Sreeram Srinivasan: India is at the cusp of an expansive growth across segments in electronics driven by several factors including the geopolitics of our times and the aspirations of our people. Make in India and other favorable policies by the government are playing an important role in the increase of Electronic manufacturing especially in a wide range of domains including Consumer Electronics, Automotive Electronics, and Medical & Defense electronics. EMS industries are expected to grow at a CAGR of 38% till 2024 owing to all of the above factors.
Prateek: What will be the company’s growth plans in the near future?
Dr. Sreeram Srinivasan: Simply, the growth plans of Syrma is closely related to the expected growth of the market for EMS. It is therefore imperative that Syrma is well poised to be part of that growth with design and manufacturing capabilities and capacities and be present and visible in all domains and geographies. Towards this,
- Syrma’s recent acquisition of an equi-sized SGS Tekniks has increased our geographical and capabilities footprints,
- Investments to expand our design services through adding to our existing teams and also through strategic acquisitions of Design companies overseas,
- Clearly defining focus spaces and have the potential to take us to the next level in the medium to long term.
- Building a strong talent and leadership pipeline and retaining key talents will be an important aspect and challenge towards building a sustainable organization in the longer term.
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