Bajaj Electricals to Launch IoT Based Devices

Bajaj Electricals seeing  opportunities in the connected devices space.  And also is moving ahead to tap the potential of IoT (Internet of Things) based products. According to the company’s annual report, the consumers are really excited about this new world of possibilities.

"Our commitment to bring the best to our customers has inspired us to tap into the potential of IoT, the latest concept in technology, which connects everyday devices with internet network, allowing these devices to interact with each other and exchange data." the company said.

"We have embarked on a new journey in digitization with our Integrated Building Management System (IBMS) and our technologically advanced LED lighting solutions which help customers upgrade to next level of lighting," it further added.

The company, which is participating in the government project to develop 100 smart cities, has already tied up with networking major Cisco and Gooee for it.

The Luminaries division of the company would exploit the opportunities and the smart city projects will offer more room for growth.

"The IoT is poised to usher in another revolution in our lifestyles. The Indian consumer is not only ready, but eager to evolve into this new world of possibilities as the country marches confidently ahead on its economic highway of growth," said Bajaj Electricals CMD Shekhar Bajaj while addressing the shareholders in the annual reports.

IoT is the inter-networking of physical devices, which are also referred to as connected devices and smart devices with electronics, software, sensors, actuators, and network connectivity which enable these objects to collect and exchange data.

Besides, the company is also looking to expand its offerings into the mass and premium segment.

According to the company, "The demand for premium segment consumer appliances will be on the rise as the income level of both urban and semi urban households is expected to go up in future."

The Shekhar Bajaj firm had in the last fiscal extended its trademark user license agreement with UK-based electrical appliance maker Morphy Richards, under which it offers its premium range products.