​In today's rapidly evolving industrial landscape, the ability to monitor and manage assets effectively is paramount. Asset Monitoring Solutions (AMS) have emerged as critical tools, enabling businesses to track, analyze, and optimize the performance of their physical assets in real-time. In India, the AMS sector is witnessing significant growth, driven by the rise of deep technology startups that are leveraging advanced technologies to deliver innovative solutions.​

The Rise of Asset Monitoring Solutions in India

Asset monitoring encompasses the use of various technologies to oversee the condition and performance of assets such as machinery, equipment, and infrastructure. Effective AMS can lead to enhanced operational efficiency, reduced downtime, and substantial cost savings. In India, sectors like manufacturing, logistics, healthcare, and energy are increasingly adopting these solutions to maintain a competitive edge.​

Deep Technology Startups: Catalysts of Innovation

Deep technology startups, or "DeepTech" startups, focus on developing cutting-edge technologies rooted in substantial scientific or engineering challenges. In India, the DeepTech ecosystem has been expanding rapidly, with over 3,000 startups growing at a compound annual growth rate (CAGR) of 53% over the past decade. These startups are at the forefront of creating advanced AMS by integrating technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Big Data analytics.​

Leading Asset Monitoring Solutions Providers in India

Several Indian DeepTech startups have made notable strides in the AMS domain:

  1. Inteliiot: Founded in 2019, Inteliiot aims to build leaner and more responsible supply chains through IoT-enabled solutions. Their offerings include cold chain monitoring, asset intelligence platforms, and workplace safety solutions. Inteliiot's platform provides real-time data visibility, helping businesses reduce wastage, improve efficiency, and create safer work environments.



  2. Intecog: Intecog specializes in asset condition monitoring, offering products designed to prevent spoilage, theft, and operational inefficiencies. Their solutions are particularly relevant in sectors like food storage and pharmaceuticals, where maintaining optimal conditions is crucial. Intecog's devices are calibrated by NABL-accredited laboratories and comply with FDA guidelines, ensuring data integrity and reliability.
  3. Wipro's Asset Radar: As a prominent player in the Indian IT landscape, Wipro has developed Asset Radar, a real-time asset-monitoring solution. By harnessing IoT, Asset Radar provides enterprises with greater visibility into asset performance and health, utilizing wired and wireless sensors to monitor parameters such as location, temperature, vibration, and power consumption. This solution aids in optimal asset utilization and enhances overall operational efficiency.https://www.coredata.co.in/ ​



  4. SGS India: SGS offers comprehensive asset monitoring services that enable businesses to track and locate assets, optimize performance, and reduce costs. Their IoT solutions provide real-time data on asset utilization and location, facilitating predictive maintenance and minimizing downtime. SGS's interactive dashboard delivers insightful information about machine availability and performance, allowing for timely interventions. 

The Impact of DeepTech on Asset Monitoring

The infusion of DeepTech into AMS has led to several transformative impacts:

Enhanced Predictive Maintenance: AI algorithms analyze historical and real-time data to predict potential failures before they occur, allowing for proactive maintenance and reducing unplanned downtime.​



  • Improved Asset Utilization: IoT-enabled tracking provides precise location and usage data, enabling businesses to optimize asset deployment and reduce idle time.



  • Data-Driven Decision Making: Big Data analytics offer actionable insights into asset performance, facilitating informed decisions that enhance operational efficiency and cost-effectiveness.​



Challenges and Future Outlook

Despite the advancements, the AMS sector in India faces challenges such as high implementation costs, the need for skilled personnel, and concerns regarding data security. However, with continuous innovation and supportive government policies, the future appears promising. Initiatives like the "IndiaAI Mission," with a budget of $1.25 billion, aim to foster an ecosystem conducive to AI development, which will further bolster the AMS landscape.

Moreover, collaborations between Indian and international firms are on the rise, exemplified by partnerships like that of Japanese space debris removal company Astroscale with Indian space startups Digantara and Bellatrix Aerospace. Such alliances are set to unlock new market opportunities and drive technological advancements.

Conclusion

The convergence of asset monitoring and DeepTech in India is fostering a new era of industrial efficiency and innovation. As DeepTech startups continue to develop and deploy sophisticated AMS, businesses across various sectors stand to gain from improved asset performance, reduced operational costs, and enhanced competitiveness. The journey is ongoing, but the trajectory is clear: India's DeepTech-driven AMS providers are set to redefine the future of asset management.