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Conversations around the Internet of Things (IoT) come up in almost every technology-related discussion. It is slowly but surely affecting our lives, tangibly and otherwise, touching us in ways we cannot even imagine; be it in healthcare, transportation, automotive, energy, agriculture, construction or any other sector. It is no more a mystery, nor is it the technology of the unknown, as it has come to ubiquitously affect our lives and work. It is an ecosystem where sensors, gateways, smart devices and equipment transmit/receive data over the internet.

A global study by Forrester Consulting last year revealed that Indian enterprises show a particularly high rate of adoption, with a large number of firms already implementing IoT solutions and more expected to join the race. Laws set in motion to strengthen the infrastructure in India will see a more robust adoption rate in the near future. We believe that IoT will change the way businesses are managed by empowering enterprises with the much needed intelligence to improve business processes and enhance customer service. Several discussions that revolve around IoT which were earlier restricted to IT departments, are slowly becoming part of C-suite conversations in many industries. The next 2-3 years will see improved enterprise adoption, a push toward interoperability and aggressive efforts to analyze data swiftly and efficiently through edge computing and big data analytics. And enterprises are at the center of this massive disruption.

Enterprise will Lead in IoT Adoption

While the hype around IoT reached its peak in the consumer markets last year (with products such as fitness trackers), it will take a good 5-10 years to see the technology sweep the consumerization. Home automation is going to be the starting point for large scale consumer deployments and will see an explosive growth in the near future. As companies begin to understand the value, RoI, efficiency and productivity that IoT can bring, commercial solutions will gain traction and the enterprise will emerge as the largest market for IoT adoption. We see early adopters already reaping the benefits of IoT. To add to this, the falling cost of sensors, embedded systems, increase in area of wireless coverage, proliferation of mobile devices, and affordability & adaptability of Cloud computing have all funnelled the growth of IoT as a technology in India.