The Outlook of IoT in India

Looking back at the greatest inventions, the reasons for their success seem obvious but it is now always so clear at the time. Similarly, emerging technologies like Artificial Intelligence (AI) and the Internet of things (IoT) have the potential to transform our lives. The world is going increasingly digital as the IoT revolution takes hold. It is now up to India to step up to the challenge and deliver.

Movies, especially in science fiction, might portray a dystopian future, with talking robots and enhanced humans. While this might seem a distant dream, reality may not be that far off, especially when we consider the progression of technology and artificial intelligence.

Intelligent and connected devices have the potential to bring about a transformation in every aspect of the life, society and ecosystem we live in. Through IoT, interactions between humans and machines are unlocking possibilities as AI and machine learning (ML) enable our devices to better anticipate, react and respond to us.

IoT in Smart India

Cloud computing and analytics are the primary forces driving IoT around the world, with factors like an increase in growth and mobility, smarter lifestyles and better decision-making playing key roles. India is not to be left behind, either. It might have taken to IoT later than most developed countries, but is expected to grow and mature at a faster rate.

Consumers are becoming increasingly tech-savvy as smartphone usage and mobile penetration grow. This is driving consumer IoT applications in India but even that pales in comparison to the industrial IoT applications, largely due to the cost of the devices and security concerns. A joint report by IAMAI (The Internet and Mobile Association of India) and Deloitte, predicts a $12 billion IoT opportunity with industrial IoT expected to surpass consumer IoT space in India by 2020. In the face of such promise, it is vital for us to transition from a knowledge economy to an innovation economy.

Industry Outlook

Alongside AI, augmented and virtual reality are making their way into our everyday lives, particularly in the verticals of Healthcare, fintech and more. As IoT becomes a bigger industry, investors and organisations from around the world are eager to fund these technologies. Many organisations have already adopted or plan on adopting IoT solutions.

The Microsoft report, IoT Signals, claims that almost 88% Internet of Things (IoT) decision-makers feel the adoption of IoT-based technologies is becoming critical for business success. Even more impressive, about 75% of the respondents said they have IoT projects in the planning stages. 

Demand for IoT

The Indian IoT ecosystem has a diverse set of stakeholders, ranging from hardware vendors to system integrators. A large portion of these stakeholders are startups, a number of whom have emerged in the past few years and attracting investor interest.

Organisations are thinking of more innovative ways to make life more comfortable with the expectation that IoT will make automation more widespread and improve productivity. IoT adoption in India is taking place with three broad applications - consumer, industrial and the public sector. In India, the adoption of IoT in the industrial sector has far greater than the consumer sector with the highest adoption levels are manufacturing, automotive transportation and logistics.

Public and Consumer Applications

There is going to be a significant IoT application in the public sector. The potential for IoT, especially in India, is expected to be driven by the Indian government’s focus on the smart cities initiative. IoT is a key enabler for this, supporting transportation, improving traffic management, energy efficiency and avoiding wastage. Consumer expectations from IoT include better access to public services, lower levels of pollution, improved safety and security, more affordable healthcare and reduced congestion.

On the consumer side, growth in the lifestyle and home automation segments has raised the demand for smart appliances that improve the quality of their life. They are looking for personalized experiences; with smart sensors, fitness trackers or smart homes triggering growth. Most consumers are familiar with smartphones but might not be as well-versed in other connected devices and IoT applications. Thus, most development activities are related to industrial opportunities.

Industrial applications 

Manufacturing can benefit from productivity tracking in real-time with smart tools, managing manufacturing processes and product efficiency. The benefits even trickle down the supply chain with process automation, connected robotics and tracking of goods sold. The healthcare industry makes widespread use of AI, using machines to provide virtual assistance, remotely monitor medical equipment and possibly reduce any downtime.

Healthcare is one of the most popular verticals with artificial intelligence used widely. Healthcare startups use machine learning to improve diagnosis, reduce drug discovery time, and provide virtual assistance. Portability has also played a defining role in convenient handheld devices and smaller batteries. 

Coming Together

Each new technology poses its fair share of challenges. Still in its infancy stage, each challenge in IoT has not yet been fully explored. Cybersecurity risks prevail with numerous connected devices and virtual and physical worlds interacting with each other. Organizations will have to take security measures to protect consumers from such threats. As understanding about the technology advancements grows and knowledge is shared between disciplines, regulations and frameworks will need to be set up to enable IoT to function smoothly and realize its full potential.

The further we go down the path of a technological revolution, the more IoT’s potential can be unlocked. The success of the Indian ecosystem depends upon the government, businesses and research and development coming together to best use these technologies. If each of these things come together, it will help India to jump into an innovative and cutting edge future that we will be well prepared to take advantage of.