Reports: Internet of Things(IoT) to grow rapidly in India by 2020

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Everything seems to be so fast in this world specially when we talk about any process that goes online. Paying Bills, Recharges, Ordering food and what not? going easy day by day in this internet oriented world. Similarly, IoT is another a keyword goes online which provides us a connection between the humans and computer. According to the latest reports, it seems that Internet of Things (IoT) units in India are expected to see a rapid 31-fold growth to reach 1.9 billion by 2020. Also, the reports said, Deloitte, a popular company, predicted on Monday, adding that the market value of IoT is expected to reach $9 billion by 2020.

We came to know that even with over 750 million cards in circulation and significant growth, mobile-based and digital payments will eclipse physical card payments. IoT is going to be the next big thing for Indian markets that the operators in India will rapidly grow into a hub for IoT solutions and it will grow up to a large extent.

According to the company,

“With advances in reliability, accuracy and technology of advance tech measures such as biometric authentication, digitization will gain popularity in various business applications. The emergence of new tech trends will help transform digital economy in 2017 and will help operators in identifying new revenue generating opportunities, enhance customer experience, and improve operational efficiencies.”

According to the various reports, In the five-year span between 2015-2020, the Internet of Things will grow faster than any other category of connected devices. Recently a new Cisco report said that, the number of machine-to-machine connections should grow nearly 2.5-fold, from 4.9 billion in 2015 to 12.2 billion in 2020. The new Cisco projects will grow rapidly in its in its 11th annual Visual Networking Index: Global IP Traffic Forecast Update. According to the latest reports, machine to machine connections should represent about 46% of total connected devices.

 CISCO REPORTS:

“A growing number of M2M applications, such as smart meters, video surveillance, healthcare monitoring, transportation, and package or asset tracking, are contributing in a major way to the growth of devices and connections.”

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