Indian IoT Market To Hit $15 Billion By 2020


Indian Internet of Things (IoT) market is set to grow to $15 billion by 2020, according to a new report released by Nasscom, as part of its design and engineering summit. The sector currently stands at $5.6 billion with 200 million connected units.

The report lays emphasis on the growth of Internet of Things, as not just creating consumer solutions but also adding value in industrial applications. Reiterating the need for innovative solutions, the report states that the IoT segment is expected to grow across industries, with Utilities, Manufacturing, Automotive and Transportation & Logistics providing greater opportunities for development, compared to other sectors.

According to the report, the global IoT market is expected to grow to over $3 trillion by the same period.

Leave a Reply

Sign Up for Our Newsletters

Get notified of latest industry interviews and insights!

You May Also Like

Sony Kickstarts TV Production At Foxconn’s Chennai Plant [Mulls Exports]

Sony has announced that it will begin manufacturing its Bravia line of televisions in India. The company is even considering exporting devices from the country. The Japanese company will evaluate sales and benefits of local manufacturing and might even setup its own plant in India. Sony is hoping local manufacturing will help it become more cost competitive and have better turnaround times.
View Post