Everyone is fairly positive about IoT. What is the ground reality of IoT market in India?
Getting an accurate picture of the market number at this point of time — specifically for India — would be very misleading. Because IoT is just beginning to pick up and take shape as a definite market. We don't have major notion on which trend of applications will pick up from which segments. Having said that, the global market will touch USD 340 Billion for the year 2020. This market number includes all services, apps, analytics, It hardware, sensors, IoT devices, communications, datacenter.
What are the roadblocks for wider adoption of IoT and how can those be tackled by technology vendors or stakeholders of IoT?
Not many from technology perspective. IoT technology per se is very simple based on sensors. The foremost challenge is ensuring the various devices (like Air conditioners, washing machines and others with different sensors) talk to each other. In industrial scenarios, there would be refrigeration unit, filtration. These heterogeneous environment with hardware equipments need to talk with each other through sensors for IoT to work. That common language for the connected devices to inter communicate is the biggest challengeIt is being dealt with various standardized protocols like CoAp, MQTT (machine-to-machine (M2M)/"Internet of Things" connectivity protocol) etcetera. IoT platforms are being developed even by Indian tech companies to enable the communication of different devices. Security is also a concern which will erase over time.
What about the mindset shift of end user companies in India who wish to latch onto IoT bandwagon?
The biggest hindrance from the end user companies will be the justification of IoT investments. They need to have a strong business case on how IoT will help their company maybe cost reduction, increase productivity, improving sales, finding new customers, improving customer satisfaction. That justification to CFOs / CEOs and the stakeholders of the companies is extremely important to secure the budgets for IoT projects for their organizations. The real hindrance is to completely understand and then justify the business viability of IoT projects. The IoT roadmap has to be related someway to the business objective of the organization. As long as CIOs achieves that business outcome with the pilot project there would be no obstacle for IoT to take off. Each company will need to evaluate its position and if it is essential for them to invest in IoT infrastructure. Some companies might not need IoT. Smaller companies can also benefit from IoT but they again need to justify those investments as the case with large enterprises.
Which verticals do you feel will be early adopters of IoT in India?
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