Internet of Things market is likely to cover billions of devices by 2020, and India seems to be a major country in that respect. According to the report “India Internet of Things (IoT) Market Forecast & Opportunities, 2020”, IoT market in India is expected to grow at a CAGR of 28% between 2015 and 2020.
With the passage of time, Internet of Things is becoming the need of the hour. Some call it the future of technology while others call it the future, but the internet of things will surely play a major role in making this world a better place to live. Thousands of reports covering IoT on the national and international level have been published. The latest in this series is India “Internet of Things (IoT) Market Forecast & Opportunities, 2020,” which says that India’s accepting IoT at a wide level to reduce cost and the need for excessive human capital.
Some of the major sectors that have started adopting IoT include manufacturing, consumer electronics, BFSI, automotive & transportation, home & building, retail, energy & utilities and supply chain & logistic sectors.
India is one of the largest economies in the world, and a growth of over 28% will surely help it become a leading IoT-focused market as well.