With growing need for connectivity |
generating sources for the IoT solution |
among devices , systems and services |
providers in the years to come . |
using variety of protocols and domains ; |
According to “ India Internet of Things |
automating business processes ; and |
( IoT ) Market Forecast & Opportunities , |
real-time monitoring and tracking of |
2020 ”, IoT market in India is projected |
services and systems , Internet of Things |
to grow at a CAGR over 28 % during |
( IoT ) technology has been gaining |
2015- 2020 . IoT is being rapidly brought |
increasing market traction over the last |
into use across diverse industry verticals |
few years . In the IoT concept , a ‘ Thing ’ |
to reduce operational and manpower |
can be any natural or man-made object |
costs , and increase operational |
that can be assigned an IP address and |
efficiency . Consumer electronics , |
provided an ability to transfer data over |
automotive & transportation , BFSI , |
a network . Need for standardization of |
home & building , energy & utilities , |
all devices across an IoT ecosystem |
retail , supply chain & logistic sectors , |
coupled with favorable government |
and manufacturing are the key |
policy environment are set to fuel |
emerging application areas where IoT |
growth in the country ’ s IoT market over |
technology is majorly being adopted . |
the next five years . Planned government |
However , India ’ s IoT market is highly |
projects such as smart cities , smart |
fragmented with numerous players |
grids , smart transportation , etc ., are |
operating across the value chain . |
expected to be the major revenue | |
Growing need for real-time monitoring , |
the India IoT market , followed by |
tracking and automation coupled with |
automotive & transportation and BFSI |
favorable government initiatives to drive |
sectors . Major players operating in India |
Internet of Things ( IoT ) market in India . |
IoT market include Intel , Texas |
According to a recently released |
Instruments , Telit , Gemalto , Infosys , |
TechSci Research report , “ India Internet |
IBM , and Wipro . |
of Things ( IoT ) Market Opportunities |
“ Growing adoption of Cloud in IoT |
and Forecast , 2020 ”, IoT market in India |
services and shifting focus over |
is projected to grow at a CAGR more |
industrial IoT ( IIoT ), rising market of |
than 28 % during 2015 – 2020 . Growth |
M2M communication and increasing |
in the market is anticipated on account |
trend of wearable technology |
of ongoing technological developments |
applications are among the major |
in IoT technology for providing better |
factors driving IoT market in India . |
connectivity and coverage as well as |
Moreover , government launched |
real-time monitoring and tracking of |
International IoT Research Collaboration |
services and systems across diverse |
Scheme ( IIRC ), which aims to attract |
industry verticals to reduce operational |
private investments in IoT related R & D . |
and manpower costs . Moreover , various |
Furthermore , various Indian companies |
government projects such as smart |
are increasing their focus and |
cities , smart transportation , smart grids , |
partnering with other companies for |
etc ., are also expected to further propel |
developing new IoT and M2M solutions . |
use of IoT technology in the country |
For instance , Wipro entered into a |
over the next five years . |
partnership with Software AG in January |
In the IoT landscape , number of |
2015 to develop a joint solution |
connected devices have also been |
platform which would provide real-time |
increasing at a tremendous rate over |
intelligence for the Internet of Things |
the last few years . Various companies |
( IoT ) market .”, said Mr . Karan Chechi , |
across India have realized that they can |
Research Director with TechSci |
use data to optimize costs , deliver |
Research , a research based global |
better services , and boost revenues . In |
management consulting firm . |
2014 , consumer electronics dominated | |