Skip to main content

Indian IoT market value to touch $9 billion by 2020


Internet of Things (IoT) units in India are expected to see a rapid 31-fold growth to reach 1.9 billion by 2020, Deloitte predicted on Monday, adding that the market value of IoT is expected to reach $9 billion by 2020.
IoT refers to the devices, other than computers and smartphones, connected to the Internet. Deloitte estimates the current number of such devices in the country to be around 60 million.
"With advances in reliability, accuracy and technology of advance tech measures such as biometric authentication, digitization will gain popularity in various business applications," the company said in a statement.


Even with over 750 million cards in circulation and significant growth, mobile-based and digital payments will eclipse physical card payments. By 2020, we believe industries such as utilities, manufacturing, automotive, transportation and logistics are expected to see highest adoption levels of IoT in India. The government's planned investment of about USD 1 billion for 100 smart cities, over the next five years, is expected to be a key enabler for IoT adoption across these industries.
According to the report, innovative payment channels adopted by traditional and new age companies coupled with government backed systems such as Aadhaar Enabled Payments Systems (AEPS) and Unified Payments Interface (UPI) will have a positive impact on mobile and digital payments.
The company also predicted that technology industry in India may witness an earlier arrival of 5G in India.
"These companies would provide cheaper sensors, cloud data storage, analytics, visualization platforms providing remote monitoring, dashboards and reports, and field service platforms providing automated maintenance tickets and technical assistance," it said.

 Read On : WordPress
Labels:

Comments

Post a Comment

Popular posts from this blog

Moto G5 and Moto G5 Plus officially announced at MWC 2017

MWC 2017  has even officially kicked off yet, and we’ve already seen some killer new devices launch at the trade show. Lenovo  has just taken the wraps off two new budget-friendly smartphones, the Moto G5 and Moto G5 Plus . The Moto G5 and G5 Plus  look basically the same, save for the Moto G5's slightly smaller chassis. While they may not look as high end as the Moto Z lineup, both devices feature a premium aesthetic that rival other devices in this price range. Both devices have metal finishes , which is a nice step up from their plasticky-feeling predecessors. You’ll also notice the large circular camera sensors on the back, which resemble the ones on the Moto Z. While the design of the two devices may be quite similar, here’s where things start to differ quite a bit. The Moto G5 sports a 5.0-inch LCD display with a resolution of 1920 x 1080 . Under the hood, it features a 1.4GHz Snapdragon 430 chipset , either 2 or 3GB of RAM (depending on the...
Post a Comment
Read more

Nokia 3310 expected to release in India in April 2017, priced under Rs 4000

Nokia 3310 will be released globally at a retail price of €49, approximately Rs 4000 . Nokia has confirmed to roll out the handset to India along with other Asia-Pacific , Middle East , African and European markets in Q2 2017 . Mobile World Congress (MWC) 2017 stands out special in more ways than just one. MWC 2017 witnessed coming back of the iconic brand 'Nokia' once again to the market, delivering Android smartphones for its fans. Nokia, presently licensed by HMD Global , launched three smartphones – a special edition Nokia 6 , N okia 5 and Nokia 3 on Sunday. However, that is not it. Amidst, a choir group singing the Nokia melody, the company rebooted its one of the most iconic and invincible phone of all times , the Nokia 3310 . Nokia 3310 comes in a modern avatar to suit the modern times. The 'modern classic reborn' feature phone is as tough and durable as the last time you heard about it. It can offer a 22 hours of talktime and a month of sta...
Post a Comment
Read more

Nintendo Switch : everything about Nintendo's new $300 console coming this week

After years of waiting, Nintendo finally has a new video game console on the way: Nintendo Switch . It's a hybrid console  — you can play it at home on your living room television, or you can take it on the go. Here are the basics: It's called Nintendo Switch. It's scheduled to launch on March 3 . It starts at $300 . Nintendo has a gaggle of games starring its most prominent creations in the works . This is everything that comes in the $299 package. Here's what's in the box: • A Switch tablet — the console itself is the tablet. • A set of Joy-Con controllers . • The Switch dock , for connecting to your TV. • The Joy-Con dock/gamepad . • Two wrist straps for making sure you don't lose the Joy-Con while playing a motion game. • Two cables (power and HDMI). Exactly what'll come in the box when Nintendo Switch arrives on March, 3: the Nintendo Switch dock, the tablet-like console, and a home gamepad with the...
Post a Comment
Read more