It accounts for 40% of industrial output, 40% of the total exports, creates 1.3 million jobs every year, and has been able to employ around 120 million persons. About 20% of the MSMEs are based out of rural areas, generating large-scale employment for rural India.

Despite the social-economic impact of MSMEs, this sector faces challenges for access to capital, human capital, and technology.

Predictive maintenance is highly growing and gaining popularity as an approach that enables companies to

At present, more than 90% of SMEs in India do not have any technology to monitor assets, production, and energy consumption. Some of the SMEs rely on manual monitoring (inefficient and error-prone method)

As compared to larger enterprises, SMEs lag significantly in terms of productivity. This is a direct result of inefficiencies in operations resulting from a lack of a data and technology-driven approach. Think of time and productivity lost when a machine breaks down, or energy lost due to an idling machine. With IoT solutions, these inefficiencies and similar cases can be easily identified and acted upon fast. Monitoring the operations parameter is the first step to improve them. Most of the time it is only a matter of capturing and analyzing the data already available from VFDs, Smart Meters, PLCs, etc.

Assets build the foundation for any business. We can understand the performance, faults, causes, and effects of the equipment on a much wider and more detailed aspect by the data from connected equipment in machinery . SMEs most often don't have a dedicated team for maintenance of operation technology, with IoT monitoring SME will have a virtual engineer available to continuously monitor and plan maintenance schedule.