Internet of Things (IoT) is the process of internetworking physical devices, machines, buildings, and vehicles using network connections, software, sensors, and electronic devices.
While Indian companies and startups have plunged at the opportunity that exists in inter-connecting objects in domains such as agriculture, manufacturing, real estate, transportation, and medicine, we still have a long way to go!
According to a report compiled by 6Wresearch, the India IoT market is projected to grow at a CAGR of 28.2 percent during 2016-22. As per the report, the growth of the overall market, smart cities project is expected to play a vital role.
Industrial big wigs and small and medium enterprises are constantly on the lookout for technology solutions in the IoT space which can help in reducing costs and improving time efficiency. Marquee investors have also shown their inclination towards IoT-based products, but having said that funds have also emphasized on the quality of products in which they want to place their bets on.
To propel the entrepreneurial spirit and understand product amalgamation, the Intel IFDIC campaign will have Tata Consultancy Services veteran Hasit Kaji will host Facebook Live Cast for budding entrepreneurs in this space.
Other Key Reports Available:
Media Courtesy : Entrepreneur