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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...