Internet of Things (IoT) is not just about computers, laptops, tablets, and smartphones anymore. An exciting wave of future IoT devices and applications will emerge. A multitude of devices are internet-connected including refrigerators, washing machines, Air conditioners, robotic vacuum cleaners, door locks, LED lights, and more.
The IoT future has the potential to be limitless. The technological advancement is accelerating the IoT landscape. And with the integration of modern technologies such as Artificial Intelligence (AI) and Machine Learning (ML), it would evolve to furthermore, opening entire new streams of revenue.
What is the future of IoT in India?
Nitesh Bansal, SVP and Global Head of Engineering Services, Infosys
India is contributing to the technology development of IoT to multiple product companies. Apart from this India is contributing to various industry verticals, helping them engineer their next smart connected products, smart connected operations or smart connected infrastructure.
IoT in India has already seen massive scale platforms like FastTag for vehicles and the India stack “Aadhaar” platforms.
Automotive with Electric Mobility, Ride Sharing (including scooters and cycles) will see more volume and expansion with IoT.
Smart city projects enabled with massive IoT across public assets will come to life.
Future of IoT in India will also be for sustainability, frugal innovation in water, energy (renewable), resource management. And Agrotech in India is a huge opportunity.
Sean Duca, vice president and regional chief security officer, Asia Pacific & Japan, Palo Alto Networks
India’s IoT market size is expected to grow at a rate of 62% CAGR and will reach US$9 billion by 2020. The number of IoT connections are expected to grow at a CAGR of 137%, increasing from US$ 60 million in 2016 to US$1.9 billion in 2020. As per NASSCOM’s report on the IoT landscape in the region, India will be a front runner in IoT adoption in the Asia Pacific.
Ashish Kalvakota, Associate Vice President - Engineering, GlobalLogic and Praveen Jha, Principal Architect, GlobalLogic
With 2 billion population on cards and the government focused on making India a cashless country, India has swiftly adapted itself towards online payments. While in the backdrop of the availability of low- cost smart devices, the thrust of the internet revolution has helped India’s internet usage to exceed half a billion mark.
However, IoT in India is an inflection point where it calls for collaboration between the digital technology solution providers and various industries. By 2025 it's expected that India will witness more than 4500 interactions per connected persons which means that India will position itself as a connected warfare ground wherein IoT will hold a crucial place.
Kushal Nahata, CEO & Co-founder, FarEye
India is gradually growing as an IoT hub. Having begun its IoT journey much later than the developed economies, its installed base of connected units is expected to grow at a rate much faster than them.
A Nasscom report highlighted that IoT units in India are expected to grow 32X to 1.9 billion by 2020, from its current base of 60 million. IoT will be a key driver in driving intelligent and safe logistics operations.
Data generated by IoT devices when clubbed with machine-learning algorithms can drastically boost route planning operations for Indian supply chain and logistics businesses. Such unique amalgamation of disruptive technologies can reduce miles per journey and shrink carbon footprint.
IoT will continue to be a disruptive technology for all industries in India, as enterprises look for innovative ways to improve and accomplish their business objectives.
Satish Kumar V, CEO at EverestIMS Technologies Pvt Ltd
We feel that the future for IoT India is bright as the adoption of technology and devices has exploded across the country. IoT is on the cusp of ushering in the next technological revolution since the introduction of the Internet to the world.
As we observe the increased usage of affordable devices and connected technology permeating homes, cars and offices, there is a ubiquitous presence of IoT across our lives in all forms – big and small.
According to the NASSCOM report on the IoT Landscape, India will be a lead player in the adoption of IoT across the Asia Pacific region. IoT market size in India is expected to grow at a rate of 62% CAGR and reach US$9 billion by 2020.
The number of IoT connections are expected to grow at a CAGR of 137%, increasing from US$60 million in 2016 to US$1.9 billion in 2020. This increase in IoT market revenue share will be distributed across different industry sectors like utilities, manufacturing, transport and logistics, automotive, healthcare and so on.
Neelesh Salgaonkar - VP Engineering, Karix Mobile.
According to a study by Deloitte, a number of IoT devices in India is going to increase to 1.9 billion units by 2020. The IoT market in India is poised to reach $15 billion by 2020, accounting for 5% of the global market, as per a NASSCOM report.
Some of the developed countries have remained at the forefront in technological developments but some tech enthusiasts believe that India will be a great place to keep an eye on for IoT growth. There is a general sense that India will become the biggest consumer of IoT devices in the next five years.