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Technology giant Honeywell has launched a new brand, Impact by Honeywell, especially for the growing mid-segment in India.
As part of the launch, the company introduced several products that have been locally developed to solve the challenges faced by mid-segment customers in terms of productivity, cost control, revenue leakage, quality, and compliance.
Akshay Bellare, President, Honeywell India, told BusinessLine that as per the World Economic Forum, India will add 140 million new middle-class households by 2030, up from 158 million currently to become 300 million households by 2030, and will drive $2.8 trillion of total consumption. “In the business-to-business context, this segment represents booming opportunities in the end markets that Honeywell serves. It features a large customer base spread within and beyond tier-1 and tier-2 cities.,” Bellare said.
Growth-drivers
He pointed out that the factors that are driving growth in this segment include lifestyle aspirations such as affordable housing, quick-service restaurants (QSRs), and improved healthcare and hospitality, and the resultant growth in manufacturing, warehousing and logistics, and infrastructure and construction.
He said Impact by Honeywell understands the needs and pain points of its customers in terms of the products and solutions they are looking for or the challenges that they are facing. “We are catering to customers who are often compliance-driven, demanding products and solutions that are localised and tailored to their specific needs, offer great value for the price, with good-enough quality and are easy to buy, install and use.
Bellare said SMEs accounts for 45 per cent of industrial output and 40 per cent of the total exports in India. It generates employment for 60 million people and creates 1.3 million jobs every year. “We see a huge scope for automation, digital adoption, and smart products and solutions in the SME sector. Our localisation strategy to cater to this segment will accelerate sustainable growth for Honeywell in India,” he said.
He also pointed out that the new launch is part of a global strategy for emerging markets customised to local needs. In China, Honeywell recently launched a similar initiative called, Huosheng by Honeywell.
Marquee offerings
Speaking about one such product, the Universal AC Controller, Jasmeet Bhatia, who heads the buildings technologies line of business for Impact by Honeywell, said, “This device saves up to 30 per cent of AC energy bills by reducing wastage and unwanted usage of air conditioners. This battery-operated device works with most AC models.”
Speaking about one of his marquee offerings in his portfolio, Chaitanya Paspuleti, who leads the safety and productivity solutions portfolio for Impact by Honeywell, said the company recently introduced a warehouse management system for e-commerce businesses in India. With a set-up time of fewer than five weeks, the Software as a Service solution enables e-commerce companies to increase product diversity, price products competitively, and manage fluctuating demand.”
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