IoT market to grow at 35% CAGR
Tata Communications has launched its Internet of Things (IoT) marketplace, a first-of-its-kind, initiative in India to strengthen and accelerate the country’s growing IoT ecosystem.
The IoT Marketplace will bring together IoT practitioners and enterprise customers on a single platform; setting the ground for customers to tailor their IoT solutions and drive innovation within their business, while enabling vendors and partners on the platform to discover new market opportunities.
Frost & Sullivan finds that the Enterprise IoT market in India will grow at a CAGR of 35% through 2023, quadrupling the market by then.
Despite a large number of solution providers and system integrators, Indian enterprises have not been able to fully leverage the opportunities presented by IoT.
There is lack of standardisation, interoperability and connectivity in the IoT market, with a plethora of players, technologies and platforms competing for market share and mindshare.
There is a need to bridge this gap and offer a single solution, which can help scale IoT adoption in India, said the company.
Tata Communications’ IoT Marketplace looks to address these needs by bringing together different partners from device manufacturers, software developers to start-ups and system integrators to deploy and manage IoT solutions, all under one single platform.
The complete solution-set will be offered by Tata Communications and the partners in the ecosystem, underpinned by Tata Communications’ pan-India infrastructure and platform.
The IoT Marketplace will enable diverse customers from government/public sectors to enterprises and start-ups to choose from a range of offerings and services on a plug and play model, enabling them to leverage IoT solutions to address their custom requirements.
“By bringing together best-of-breed IoT players on one online B2B marketplace, we are breaking new ground in the journey to unlock the power of IoT in India”, said Alok Bardiya, Head – Internet of Things (Business Unit), Tata Communications.
“We believe that this first-of-its kind initiative provides a missing link that will make a difference to how disparate IoT components are brought together to create a unified experience in designing a solution or ultimately purchasing one; thereby enabling customers to deploy these solutions with ease and achieve their strategic goals using IoT,” he said at the launch on 29 May 2019.
“We are excited to be a part of Tata Communications’ IoT Marketplace initiative, a ready channel that will give us access to many untapped IoT opportunities in the Indian market and insights to future proof our product and sales strategies,” said Jainam Mehta, Chief Marketing
Officer, Oizom, a start-up offering IoT based environmental solutions.
“This platform will enable us to increase our market awareness and enhance our visibility as well as penetration within the enterprise landscape. It will also connect us with other partners to provide to our customers a holistic and seamless experience, all under one roof,” said Mehta.
“Tata Communications is setting up an efficient IoT platform that is set to bring order in the fragmented IoT landscape and evolve as the backbone of IoT ecosystem in India”, said Chandrashekhar Limaye, Director, Supertech Instrumentation Services (I) Pvt Ltd of India that specialises in providing advanced automation solutions in industry.
“We are proud to collaborate with them as a Strategic Alliance Partner. Through this robust platform, we can focus on developing innovative and cost-effective IoT solutions that address efficiency challenges for the
real-world enterprise,” he said.
Tata Communications is building the foundation for IoT in India with its LPWAN network, spanning nearly 2,000 communities and touching over 400 million people in total.
To-date, the company has rolled out its network in 45 cities, with more cities planned for implementation over the next two years. fiinews.com
