IoT in India is expected to grow from $1.3 billion in 2017 to $9 billion by 2020.
The 6th Annual IoT Innovation Conclave & Exhibition 2017 ended on a high note with 300+ participants being ecstatic about the future of IoT technology in India. Deloitte Predictions 2017 projects that the market for IoT in India is expected to grow from $1.3 billion in 2017 to $9 billion by 2020. The global market on the other hand is expected to touch $300 billion in next 5 years. Relative to the rest of the world software is the brain & India powers it.
According to the industry estimates, by 2020 the highest adoption of IoT in India will be seen in industries such as utilities, manufacturing, automotive & commercial telematics, transportation and logistics. In addition to this, the Government has pledged to invest USD 1 billion for 100 smart cities over the next five years will be a key enabler for IoT adoption. This provides a huge opportunity to IoT players in India but there is a big challenge in terms of offering India-centric solutions and understanding how to fuel the growth of IoT business in this market. This conclave provided a great opportunity to the key stakeholders to come under one roof, showcase the latest tech innovations and deliberate on the way forward.
“Extending a warm welcome to all the panelists, delegates and attendees, Sanjay Srivastava, Business Head, Mahindra World City (MWC), Jaipur, said, “We are delighted to be a part of the IoT Innovation India Conclave & Exhibition 2017. At Mahindra World City (MWC), we believe that thoughtfully planned industrial infrastructure combined with technology innovation can add significant value to the industrial clients & professionals working & residing at well planned cities of future. IoT can be an enabler of improved quality of life and can go a long way in creating smart and resilient cities of the future. MWCs have been at the vanguard of such implementations of various smart technology initiatives such as Smart Street Lighting, Parking, Waste Management, Integrated Building Energy Management System, Smart Metering, Integrated Security & Surveillance etc.”
Kuldeep Malik, Country Head Corporate Sales International, Mediatek said, “Our platforms have been powering IoT devices in India for decades now”. We have been focusing on making our chipsets smaller, more connected and power-efficient. Conclaves likes these offer us a great platform to showcase what all we have been doing and also an opportunity to review market dynamics. We believe IoT Innovation India Conclave offers a great platform to exchange ideas and work together towards a more connected society”.