- High demand from the Industries & consumer sector
- 7 bn connection by 2020 with $15 bn
- Lacks standard operability norms
The development and adoption of the Internet of Things (IoT) in India is rapidly growing, generating high demand from industrial and consumer sectors. NASSCOM predicts that there will be 2.7 billion connected devices by 2020, leading to an economic impact of up to $15 billion. It is estimated that connected devices will touch five billion by 2022, where the connected devices will be playing a key role in industrial digitization and digital transformation.
Despite its significance in aiding the next wave of digitization, the IoT market lacks standard operability norms. In order to address this challenge, the Open Connectivity Foundation (OCF) India Forum was launched in Bangalore on 10th May 2019. More than 35 members from leading IT and digital transformation experts like Intel India, L&T Technology Services, Samsung R&D India Bengaluru and the NASSCOM Center of Excellence for IoT participated. OCF forum is committed to working with technology and user enterprises, start-ups and government to promote IoT standards in India…. [Read More]