The adoption of the smart connected devices by consumers—according to IDC, 4 lakh fitness bands were sold in the first quarter of 2016—would have one assume that Indian consumers would drive the Internet of Things (IoT) market in the coming years, but a new report by GE in collaboration with Nasscom and Deloitte states otherwise. According to the report, industry would be the driver for IoT revolution with utilities, manufacturing, automotive and healthcare seeing greater opportunity than other sectors as consumers shy away from smart devices due to cost of IoT devices and security and privacy concerns.
While the report highlights that the IoT market in India would increase from $5.6 billion with 200 million devices in 2016 to $15 billion with 2.7 billion devices by 2020, it states that the growth will be predicated on the start-up ecosystem. Start-ups are surely expected to lead adoption, but a lot would also depend on the government providing an enabling infrastructure. With the country still struggling to provide full 3G coverage, India would need a more concerted approach rather than just start-up initiative to reach that mark. With recent developments highlighting that the internet giants are targeting ways to provide economical usage of data via their apps, the IoT dream may not be as easy to achieve. But then, technology has the ability to surprise, and it will probably do that again.