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

Comments

Popular posts from this blog

Jeff Bezos plans to set up Amazon-like moon delivery for 'future human settlement'

Amazon billionaire Jeff Bezos ' Blue Origin space venture has reportedly proposed sending a robotic lander to the moon's south polar region by 2020 , as an initial step toward an "Amazon-like" lunar delivery system and eventually a permanently inhabited moon base. As described by the Blue Origin 's white paper, the proposal seeks NASA 's support for sending a "Blue Moon" lander to Shackleton Crater near the moon's south pole. The lander would be designed to carry up to 10,000 pounds of payload . It could be launched by Blue Origin's New Glenn rocket , which is currently under development, or by other vehicles including NASA's Space Launch System or United Launch Alliance 's Atlas 5 . " It is time for America to return to the moon — this time to stay , " Bezos said in response to emailed questions from The Post. " A permanently inhabited lunar settlement is a difficult and worthy objective. I sense a...

Microsoft confirms two major updates planned for Windows 10

Microsoft this month reaffirmed that it will issue two Windows 10 upgrades this year, twice the number of 2016 but still shy of the firm's original target. In a presentation 11 days ago at a Microsoft technical conference held in Australia , Bill Karagounis, a director of program management, pointed to a follow-on upgrade that will appear sometime after the Creators Update , which is expected to finalize and ship next month . A slide Karagounis showed during the session -- which was webcast from Microsoft's Channel 9 website included another upgrade this year after Creators as you can see it in below image. It lacked a release date and a more descriptive name other than "Second Update in 2017" . The timeline doesn’t include dates, but it does show that work on the second update should already be well under way, and public testing should start shortly after the release of Windows 10 Creators Update . From the Microsoft blog post : ...

Samsung Galaxy S8 Leak Shows the Device In Its Full Glory

Samsung' s upcoming flagship the Galaxy S8 is one of the most anticipated smartphones. The Galaxy S8 has been rumored for months now, and leaked details have revealed almost everything there is about the smartphone. At the ongoing MWC 2017 , Samsung revealed that it would launch its next Galaxy flagship smartphone on March 29 . Samsung is also expected to unveil the Galaxy S8+ along with the Galaxy S8. Even as we are inching closer to the official launch of the Galaxy S8, there's just no stopping to its leaks. Evan Blass , professional spoiler of well kept smartphone secrets, is revealing the most-anticipated non-iPhone of 2017, Samsung's Galaxy S8 . His new image reveals a handset that agrees wholeheartedly with Samsung's Mobile World Congress teaser of a device with utterly minimal front bezels . It also features Samsung’'s confirmed date for the launch, March 29th , and gives us a good look at what's presumably going to be the lock screen welcomin...