- The IoT-based products will include a range consumer accesories.
- The company is also developing a manufacturing facility in Andhra Pradesh.
Astrum, a new Indian electronics products and accessories company has opened a new innovation centre dedicated to promoting and developing IoT technology in India. The foundation of the centre has been laid down in Mumbai, Maharashtra.
IoT as focus
The company will focus on creating IoT-based products in India. This includes a range of smart accessories such as smart mobile devices, smart audio devices, smart LED lights and smart car accessories.
Yogesh Dhandharia, director, Astrum Innovations India, said “We are gearing up with innovative and user-friendly products that cater to the growing demand of Hi-Tech accessories. Therefore we are first working on smart audio range of products. We have a joint venture with one of China’s leading company LLKER who will provide us with a CBD (Creative Users, business and designers) system.”
He further added, “We are focusing more on making all our existing range smart and digitally transformed. Market intelligence predicts that the IoT market is growing at a CAGR of 50 percent and will reach $500 billion by 2021 and everyone is trying to get a piece of the pie. IoT enabled accessories too are a part of this growth and it will be difficult to categorise at this point.”
Manoj Kumar Pansari, chairman and Managing Director said, “Our R&D team is constantly working on developing new products, which are enhancing the living standards of our Consumers. Currently there is a lot of work being done on the smart products category for the future. The aim is to make people experience the difference.”
Astrum had recently signed a memorandum of understanding with Andhra Pradesh Government and is also developing its manufacturing facility in Tirupati, Andhra Pradesh.