According to the report published on by deloitte and Nasscom, The Internet of Things (IoT) market is expected to reach $ 9 billion by 2020. By the end of 2020 more than 1.9 billion devices are expected to be connected in India which leads to grow this market 31 times from the current market share of 5.6 this year.
Indian IoT market has huge potential and expected to grow across industries in manufacturing, automotive, transportation and logistics. IoT is set to become a major differentiator in driving the next generation of services and products.
|Segment||Market Share||Companies Working|
Internet of Things Applications and Market Share:
Wearable: Wearable clearly stands out and has huge potential to grow and nurture as smart wearables are in demand and growing day by day. Number of well established companies and startups are working to take profit of this growing segment in IoT.
Healthcare: Increased demand in smart health care products has give boot to smart healthcare product market. Numbers of companies have launched products in market and are working to bring better solution over the time. Smart wheel chair, medicine alarm, health monitoring etc are the leading products.
Agriculture: Smart farming is replacing traditional farming to minimize the losses and increasing productivity. Animal movement tracking, soil humidity checker, animal tracking devices are few of the applications being used in Agriculture.
Smart Cities: Indian Govt.’s smart city project has give boot to smart home and smart home industry in India. From sensor manufacturer to traffic controller everyone is ready to take profit of this growing IoT segment in India.
Automobile: Connected cars, driverless cars the next big market which is going to change the future of automobile industry. Companies like Google have started working on this project and have launched and successfully tested it in live environment. It is challenging in India but the cities like Dholera Sir will experience automatic cars in India.
Smart Grid: Smart Metering is the next big IoT segment where electricity and water supply everything will be controlled through sensors and Internet.
Industrial Internet: We want to replace humans with robots, to do so we need robust and centralized system in our factories to automate our assembly lines. More than 100’s of companies working to provide industrial automation solution.