Not too long ago when Internet-of-Things (IoT) started creating abuzz in the market, little did we know how promising the solutions would be and how exactly the Indian consumers would be responding to IoT enabled products/solutions. Fast forward 2017, It’s clear that IoT is the future of economic development in the country. Consequently, The IoT market in India is estimated worth $9 billion by 2020.
To push the envelope further, prominent bodies, both government and private, have come together. Indian Electronics and Semiconductor Association (IESA) and The Industry Entrepreneurs (TiE), Bangalore has successfully conducted the second edition of IoTNext 2017 summit. An ongoing two-day summit is focused on Security in IoT space to win the confidence of consumers on the large scale.
Targeting 1,000 participants this year, IoTNext 2017 is focused on fostering startup ecosystem in IoT space. Startups which are especially operating in IoT space would are believed to be benefited from the gathering of the thought leaders, including Ravi Gururaj, President – TiE, Akhilur Rahman, CTO – ABB India, Dileep Mangsuli, CTO – GE Healthcare, who are instrumental in shaping various successful IoT companies in India and abroad.
Besides all the actions by participating startups and thought leaders, the new startup IoT directory is launched with IoT Forums. The 2nd edition of IoT directory contains the details of 900 startups operating in the field of IoT across the country. Last year, the directory was containing the details of 500 IoT startups.
“IESA Innovation Initiative – leveraging Industry CSR and Best-in-class models from the world – is looking at direct industry intervention at academia-incubator-startup level to enable the Indian IoT hardware ecosystem. We would like to take this to at least another 100 percent growth that it is currently witnessing,” says Ashwini K Aggarwal, Chairman, IESA
The discussions at the summit will revolve around Connected Life and Artificial Intelligence & Analytics.
During the summit, IESA emphasised its commitment to strengthen the manufacturing capabilities of semiconductors and electronics in India itself. Mr. Aggarwal informed the media that the association has already submitted a memorandum to expand the manufacturing capabilities at Chandigarh based fab-facility to the government.
Mr. Agaarwal, however, accepted that local manufacturing is the top priority for the government and the IESA in order to push the IoT envelope further. To ease out the procurement process of hardware the IESA is continuously engaging various bodies of investment firms and forums.