SIVA IoT Sees Growing Demand in the RFID and IoT Markets Nationally and Internationally
SIVA IoT, a family-owned business specializes in producing RFID labels and tags for a wide range of industries. Due to the impact of the Covid-19 pandemic, the benefits of digitalization and automation are being made clear to many companies of various industries worldwide. The deployment of RFID and wireless IoT technologies to automate operations and processes have therefore seen growth in demand. Arjun Aggarwal, Director of SIVA IoT provides insights to growth of the RFID market in an interview with RFID & Wireless IoT Global.
Keyword “Digitalization”: How has the Covid-19 pandemic pushed digitalization forward globally?
A bi-product of the pandemic is that an increasing number of people have now realized that it is difficult to have many people working at one geographic location, especially during the lockdowns. Companies that have different branches at different locations need to exchange data through the cloud in order to function. Be it automating production lines or improving sales and accounting systems, we have seen digitalization happening at all corners of the globe.
In India, a major outsource sector for technology, the demand for software engineers at the moment is the highest it’s ever been in the past 15 years. This fact shows just how much development is being made in the IoT sector. As an example, the demand for smart employee cards has drastically increased as a result of the pandemic. Companies prefer a contactless smart card solution as opposed to retina scans or infrared solutions for access control in buildings.
How have the RFID and IoT markets developed in India?
Today, there is a good amount of movement in the RFID and IoT sectors in India. The Indian government has been starting many initiatives to deploy RFID and IoT in various projects across the country. There have been several smart city projects that have been initiated in the past few months – from tolling, to garbage collection, to RFID and IoT in electricity or gas meter projects and smart libraries. The budget that the Indian government is spending on RFID and IoT is steadily increasing each year. This means that suppliers, like SIVA IoT, benefit from the increase in local demand.
However, many companies in India are still hesitant when it comes to starting RFID deployment. These companies find it difficult to justify the ROI. There are many that look at the upfront cost as a deterrent to RFID deployment, rather than looking at the potential savings that can be achieved in the long term.
In the last 6 years of my experience in the field, the deployment of RFID has increased dramatically. However, I believe that India has yet reached its full potential in terms of RFID and IoT. We’ve definitely come a long way, but we do still have a long way to go. In time, companies will realize the importance of long-term savings which will outweigh the initial capital investment in RFID deployment.