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Internet Of Things Billion Dollar Opportunity

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Internet Of Things Billion Dollar Opportunity

Market research companies and the various analyst anticipate the global I.o.T ( Internet of Things ) also many times termed as Internet of Everything (I.o.E) to be a USD 151.01 Billion by 2020. This global market size of Industrial Internet Of Things was valued at around USD 93.99 billion in 2014 and now it is anticipated to hit the USD 150 plus billion market by 2020. This results with Compound Annual Growth Rate (CAGR) of 8.03% between the tenure of 2015 an 2020.

Internet of Things is nothing but interconnected devices over internet that can make life easy for various decision making system. Frost & Sullivan forecasts 80 billion connected devices in year 2020, and various investors and tech giants are looking to invest in the IoT segment. The area in which this technologies can be widely used is for security system, smart cities projects, smart homes, Automobile Industries, etc ( beyond the scope of this articles to enlist the deployment of I.oT). The Internet of Things is the new generation sensors and transducers that provides machine to machine communication with real time data analytic this stimulates the decision making system in any industries. The preventive maintenance system based on I.o.T can be deployed to reduce the outage and increase the efficiency and productivity of any Industry.

Indian Scenario Of The Industrial Internet of Things.

The market size of the Industrial Internet of Things in India is anticipated to grow at a CAGR of around 28% from 2015 to 2020, this is much higher than the global growth in the same tenure. The growth of Indian market of Internet of Everything is much higher as this is just a sunrise period for the I.o.T in India. The various government policies for Smart Cities, Smart Transportation, smart grids, etc, are the key factor that provides the tailwinds to the Indian market of Internet of Things. Even as the cloud market matures in India, the IoT services will be easily adapted by various industries. The Internet of Everything market is also propelled by the growing The Machine2Machines communication and the upward trends of wearable technology application these are some of the driving forces of the growth of I.o.T market in India.

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