Industrial IoT Poised to Surpass the Consumer Space by 2022 in India: Report

As the Internet of Things (IoT) adoption picks up in India, sectors like free energy and utilities, industrial manufacturing, transport and logistics and agronomics will lead the market and industrial IoT will surpass the consumer IoT space in the country by 2020, a new report said on Wednesday.

IOT represents an opportunity of up to $12 billion and industrial IOT is expected to consume the higher bulk of share when compared to the consumer IOT, said the joint report by The Internet and Mobile Association of Bharat (IAMAI) and Deloitte, released on the sidelines of the "IoT for Smart India" summit here.

According to the report, the energy and utilities sector is expected to contribute as much as 25 per cent of the IOT marketplace share, followed by industrial manufacturing sector at 18 per cent by 2020.

"India is well positioned to leverage the ability of IoT to create massive growth opportunities in the country. We are working closely with the stakeholders to build a vibrant ecosystem that demystifies IoT and works towards developing policy, standards and best practices for IoT connectivity, device protocols, security, mass scale production and cost effectiveness," said Harmeen Mehta, Co-Chair, IoT Committee, IAMAI and Global CIO, Bharti Airtel.

One of the cardinal objectives of the draft IoT policy document by the Department of Electronics and Information Technology (DeiTY) is to propel the IoT industry in India to $15 billion past 2020. The certificate assumes that Bharat will have a share of 5-vi per cent of the global IoT industry.

"Given the transformative potential and the significant economical touch IoT can bulldoze for a country like India, IAMAI, together with the manufacture, has launched a concerted effort towards catalysing the IoT ecosystem in the country," noted Bikram Bedi, Head (Republic of india Region) at Amazon Net Services Pvt Ltd (AISPL).

Despite the rapid pace of IoT growth, there are roadblocks similar lack of interoperability among devices, consumer perception and security, and a lack of compelling business cases.
"Nevertheless, with the fast pace of development, these challenges are quickly condign less relevant and IoT is hither to stay," said the report.