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Future of IoT in India – current market trends and use cases

Future of IoT in India – current market trends and use cases

The market potential of the Internet of Things in India alone is expected to reach USD 9 billion by 2020. With this, the IoT units in India can also see a rapid growth of 31 times to reach 1.9 billion by 2020.1

At present, there are approximately 7.6 billion people on the Earth. Nearly, 3.7 billion of these are connected to the Internet; roughly 50% of such connected population resides in Asia and 24% amongst them belongs to India.

Internet of things (IoT), with the capability to increase the connectivity of everything, everyone and everywhere, is changing the way we do things. India with a landscape of 120 IoT firms has the required technical skills to drive the IoT revolution making it one of the key countries poised for the implementation of large scale IoT projects.

IoT market trends in India

As per a joint report by IAMAI (The Internet and Mobile Association of India) and Deloitte, Industrial IoT is expected to surpass the consumer IoT space in India by 2020. It also predicts a $12 billion IoT opportunity. The accelerated pace of IoT adoption in the country will make sectors like industrial manufacturing, energy, agriculture, utilities, transport, and logistics lead the market, per the same report.

Take a look at the following illustration by Deloitte which states the current state of the Indian IoT market:

Current State of Indian IoT Market

Source: Deloitte Analysis, GoI draft policy on IoT, NASSCOM

Some other stats from the report:

IoT Statistics

The above figure shows the estimated IoT market in India in terms of units and revenue as well as distribution by different market size. Utilities share in the market is expected to be the greatest due to the government of India’s focus on building smart cities and IoT being a key enabler.

A number of IoT startups In India (roughly 70%) have emerged a few years back only. Healthcare and manufacturing are popular verticals attracting a lot of investor interests. ThingsCloud, Doxper, SeeHow, Uncanny Vision, IOT Pot are some of the popular IoT startups.

The industry is also seeing the growth of segments like smart lifestyle, connected homes, connected building etc. which are quite new concepts.

Market forces like cloud computing and analytics are the key drivers of IoT. There are several factors too that contribute to its growth like increased mobility, the evolution of smarter lifestyle, improved decision making, data analysis etc.

India has already more than 100 smart city initiatives planned. The focus is to enable seamless communication not only amongst humans but between machine to machine and machines to humans.

The above figure shows the estimated IoT market in India in terms of units and revenue as well as distribution by different market size. Utilities share in the market is expected to be the greatest due to the government of India’s focus on building smart cities and IoT being a key enabler.

A number of IoT startups In India (roughly 70%) have emerged a few years back only. Healthcare and manufacturing are popular verticals attracting a lot of investor interests. ThingsCloud, Doxper, SeeHow, Uncanny Vision, IOT Pot are some of the popular IoT startups.

The industry is also seeing the growth of segments like smart lifestyle, connected homes, connected building etc. which are quite new concepts.

Market forces like cloud computing and analytics are the key drivers of IoT. There are several factors too that contribute to its growth like increased mobility, the evolution of smarter lifestyle, improved decision making, data analysis etc.

India has already more than 100 smart city initiatives planned. The focus is to enable seamless communication not only amongst humans but between machine to machine and machines to humans.

IoT use cases/applications in India

In the context of Indian market, the advancing and ubiquitous connectivity is enabling change in every sector of the country. IoT will continue altering society as we move forward, establishing new variables and new value chains which will embrace both humans and machines.

Consumer expectations from IoT:

  • Better access to public services.
  • Lower levels of pollution for lesser environmental impact.
  • Improved safety and security for citizens.
  • Improved and affordable healthcare.
  • Reduced congestion and queues due to traffic.

IoT use cases according to sectors

Manufacturing

The popular use cases are as below:

  • Application of RFID (radio frequency identification) tags with WiFi infrastructure to track real-time productivity.
  • Application of smart tools to manage manufacturing processes like measuring, drilling, tightening etc. to improve production efficiency.
  • Remote monitoring of various medical equipment to reduce possible downtime.
  • Predictive maintenance to reduce downtime using sensors installed on engines.

Baldeep Singh Pahwa, Country Head, SingEx India said during IoT India 2018, “Manufacturing automation will lead to faster and more efficient production processes, increased efficiency, and reduction of complexity and downtime.”

IoT India 2018 focused on Indian smart manufacturing industry and its growth prospects.

Retail

The popular use cases in Retail sector are as below:

  • Use of Beacons to send notifications to the consumers about any coupon or sale.
  • RFID tags to track and provide access to a variety of services.
  • Re-inventing trial rooms using virtual and smart mirrors.
  • Smart shirt monitors (like Heart Rate Polo Shirts) to monitor the heart and pulse rate.

Transport and Logistics

The popular use cases are as below:

  • Sensors to detect empty mailboxes.
  • Temperature bands, sensor monitors to check the quality of food being delivered.
  • Tracking devices to keep a check on temperature, condition of packages, location etc.
  • Sensors to keep a check on the condition of consumables supplied.

Healthcare

The popular use cases are as below:

  • IoT enabled clinical trial solutions to evaluate specific outcomes.
  • Wearable devices to monitor pulse, heart, walking, biking, and other health data.
  • Wearable sensor patches to give insights on medical effectiveness, health patterns etc.
  • Sensor-enabled mobile devices to remotely monitor patients with chronic illness.

Automotive

The popular use cases are as below:

  • Integration of vehicle-related services via connected cars.
  • M2M cellular connectivity based UBI (usage-based insurance) for automobiles.
  • Tires-as-a-service to pay for tires on a kilometer driven basis.
  • Driverless cars based on IoT and cloud technology.

Agriculture

The popular use cases are as below:

  • Insects and pests’ monitors to schedule the release of pesticides.
  • Geo-fencing of livestock.
  • Farm equipment sensors, irrigation scheduling, and pump control.
  • Sensors to monitor humidity, temperature, soil, air etc.

Future of IoT in India

Everyone wants a world which is connected to the internet and everything in it – from your smartphone to computers to watches and refrigerators can communicate in real-time. Internet of Things certainly makes it possible. In India, the maximum push for IoT adoption is coming from the government, with initiatives like ‘Digital India’ and ‘Make In India’. A special focus is on the development of Smart Cities – one that uses IoT devices to manage utilities, traffic, healthcare etc.

These projects are a good indication of the government’s focus on IoT. But still, there are a number of obstacles that might stop the organizations from making maximum use of it. Lack of consistent internet connectivity, bandwidth issues, cost of IoT devices etc. are some of the prevalent challenges.

Despite consumer acceptance challenge in IoT, the potential is great on the commercial front. Businesses can be seen taking advantage of the IoT for enabling industrial automation and for efficient operations.

As already stated, a good number of startups have emerged to harness the potential of technology.

Future of IoT in India is very promising with undying support from the government. If the current progress continues, the prediction about IoT potential in India might come true.

Sources: 1https://www2.deloitte.com/in/en/pages/technology-media-and-telecommunications/articles/tmt-india-predictions-2017-press-release.html

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