In Sept 2015, I wrote an article about Internet of Things ( IoT ) specific to India and explained why it is an unmissable growth opportunity for India. If I look at what has gone into IoT space in India in the last one year — things are not very promising
IoT Market Size
Analysts have predicted that the installed base for Internet of Things devices will grow from around 10 billion connected devices today to as many as 30 billion devices by 2020 — an uptick of about 3 billion new devices per year
Research firm IDC says, The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014
IoT India Market Size
Gartner Says IT Spending in India will Reach $72.4 Billion in 2017 and IoT (Internet of Things) is one of the five new digital platform of five domains: traditional IT systems, customer experience, Internet of Things (IoT), an ecosystem foundation and the intelligence platform that ties all the domains together
Gartner also says that IoT also changes how CIOs will invest in analytics as decisions must move from days to minutes and CIOs should plan to shift their investments in analytics to real-time. Real-time analytics will outpace traditional analytics by a factor of three by 2020 to become 30% of the market.
David Willis, vice president and distinguished analyst at Gartner says
lack of relevant business cases may limit adoption in the shorter term, IoT solution providers must allay these concerns and educate end-user organizations on the benefits of IoT
— and that is the single most important key take away for IoT solution providers
Reliance Group’s IoT service, Juergen Hase also believes India is supposed to become one of the world leaders in IoT in the next 2 to 3 years.
India will account for at least $15b of total revenue forecast, of which electronics hardware will be a major component
Gartner Report “Market Trends: IoT Adoption in India Will Advance at a Slow Pace Through 2020.” has more information
IoT Investments in India
Tyre Express, supported by Microsoft’s BizSpark programme, has raised funds that was facilitated by IvyCamp, an innovation and entrepreneurship platform by IvyCap Ventures.
TempoGO, an IoT and SaaS-based solutions provider for commercial transportation raised Rs 5.6 crore ($825,000) led by Hong Kong-based K2 Investments
Qualcomm Technologies has its focus on growing mobile and Internet of Things (IoT) ecosystem in India with R&D and localisation support and plans to invest $8.5 million on design initiatives in India
Defence IoT startup CRON Systems Pvt Ltd raised an undisclosed amount in its pre-series A round of investment from early stage investor YourNest India Fund.
Upcoming IoT Events in India
February 8–10, Delhi: Convergence India Expo that will host the 25th edition at Pragati Maidan during February 8–10 will showcase Internet of Things [IoT] and other digital and disruptive technologies
March 2–4, Bengaluru: iotshow.in, A Technical conference for systems integrators of IoT solutions and CXOs who want to implement IoT , and presentations of success stories of IoT implementations for end customers
While there are many new startups in IoT space coming up with new innovative solutions including engineering, logistics and farming .. but the biggest question stands still
Is India Ready To Take IoT To The Next Level?
Where are people, processes and execution? We hear too many slogan about Make in India and Digital India. We see small small investment once or twice every quarter, we hear about smart cities also.
No doubt that there is some aggression — but where is the long-term road map that needs to be followed and worked upon?
Be it at organization level, or country level; this journey is going to be an evolutionary one — but at the same time, very complex.