Expressing need to translate all IoT initiatives into business models across various sectors, Telecom Secretary Aruna Sundararajan has said that the innovation and harnessing the potential of Internet of Things (IoT) is imperative for solving practical problems in India.
Telecom Secretary further said that there is also need to work across silos in various fields such as technology, policy, regulation, licenses, and use cases and added that a drive is needed in the country to spread awareness and initiate capacity building across several key ministries like health, agriculture, transport, urban development and energy as use cases will be initiated from these ministries.
As per recent estimates, Indian IoT market stands at $5.6 million with 200 million connected units in 2016 and is likely to witness growth to $15 billion with 2.7 billion units by 2020, while the number of IoT devices globally is estimated to have increased 31% year-over-year to 8.4 billion in 2017.