The Internet of Things (IoT) is expected to be a key industry for the global market in the near future, and companies in India too are betting high on it with encouragement from the government. Last year, the Indian government had initiated an ambitious plan to create a US$ 15 billion IoT industry in the country by
The Internet of Things (IoT) is expected to be a key industry for the global market in the near future, and companies in India too are betting high on it with encouragement from the government.
Last year, the Indian government had initiated an ambitious plan to create a US$ 15 billion IoT industry in the country by 2020. Now with further plans to create 100 smart cities, private players seem confident that IoT industry would see a significant growth soon.
According to P&S Market Research, Asia Pacific was the biggest driver of global IoT growth in 2014, which was driven mainly by the advanced information and technology infrastructure of Japan, China and India.
Major companies are looking at mergers and acquisitions, and coming up with innovative IoT ideas, according to a recent report from the local daily Hindustan Times (HT).
“Proposed smart cities and other brownfield projects are likely to offer huge growth opportunities for IoT in India,” said Nalinikanth Gollagunta, MD and country head, commercial sales, Cisco Systems (India) told HT.
Reports also suggest that the local IoT ecosystem is also developing quickly. CarIQ is a company that has come up with solutions to make cars smarter by connecting them to the cloud and allowing the car and its driver to make decisions based on real-time data. Axelta is another such company that provides end to end solutions to connected-device needs.