Cyient, a global engineering and digital technology solutions company, announced the launch of its INTELLICYIENT suite of Industry 4.0 solutions that will enable digital transformation for industries that draw significant value from their assets such as manufacturing, industrial, aerospace, automotive and off-highway, utilities, and mining and natural resources. INTELLICYIENT was launched by Mr. Anand Parameswaran, SVP and Global Business Head, Cyient Digital, at Hannover Messe 2021-the Olympics of Technology-where Mr. Karthik Natarajan, Chief Operating Officer and President, Cyient, delivered the keynote on Resilient Manufacturing.
Enterprises implementing Industry 4.0 stand to create an economic value of US$3.7 trillion by 2025. The Industry 4.0 spend is poised to grow at over 20% and systems integration, application development, and data services are expected to be the key technology focus areas.
The most successful Industry 4.0 solutions will be the ones that bring domain knowledge, depth of technological expertise, and engineering excellence and understanding of business operations. These have been the unique strengths of Cyient, which makes it a partner of choice across its Fortune 500 customers globally.
Commenting on the launch, Mr. Anand Parameswaran, SVP and Global Business Head, Cyient Digital, said, "Cyient has leveraged its investments in the latest digital technology capabilities, and its three decades of experience in engineering and geospatial offerings for asset-intensive industries to design its INTELLICYIENT solution portfolio. With six digital solutions, powered by the interplay of nine technology studios, and our strong partner ecosystem, INTELLICYIENT will help enterprises globally achieve the full potential of digital transformation with IT-OT convergence. We aim to focus on the four key themes of smart automation, intelligent supply chain, end-to-end visibility of workflows and assets, and next-gen workforce solutions that are driving Industry 4.0 adoption."
Akshat Vaid, Vice President, Everest Group, who moderated a panel discussion on Digital Transformation, said, "Digital engineering has become all-pervasive, contributing over 23% to global ER&D spending. Within manufacturing, it manifests as Industry 4.0-the transformation of cyber and physical systems on the back of digital themes for enhanced visibility, control, and autonomy. Industry 4.0 investments have been rising steadily, and the COVID-19 crisis has provided an additional impetus as enterprises look to enhance manufacturing resilience. In effect, enterprises are no longer viewing this spend as discretionary but rather as an avenue for driving business resilience and competitiveness. They, however, struggle with a shortage of capabilities, organizational complexity, data integration, and speed of implementation when it comes to transformation-at-scale. This has led to a rise in outsourcing with third-party vendors offering services across consulting, development, integration, and management of existing deployments."
To take on this growing opportunity, Cyient Digital, as a leading solutions and services provider, is scaling up its capabilities by investing in talent, solutions for specific use-cases, ecosystem partnerships, and the relevant infrastructure of labs and centers of excellence.
Shares of Cyient Limited was last trading in BSE at Rs.690.3 as compared to the previous close of Rs. 661.75. The total number of shares traded during the day was 9472 in over 638 trades.
The stock hit an intraday high of Rs. 703.1 and intraday low of 662.6. The net turnover during the day was Rs. 6516348.