Companies operating in the Internet of Things (IoT) space have a potential to churn US$ 750-900 million from the east Indian states, according to a study. Companies in the home and building, education, manufacturing, transportation, consumer electronics, retail, healthcare and other verticals are the key sectors which are investing in IoT.
As per the study, five east Indian states are fast evolving as lucrative destinations for the information technology (IT) and information technology enabled service (ITeS) sectors. Considering West Bengal’s share in the country’s IT and ITeS revenue is around four per cent, it can be assumed that the share of eastern Indian states in the country’s IoT revenue will be approximately five per cent. This will mean that a potential revenue in the range of US$ 750-900 million is to be tapped from the region.
The recent IoT policy drafted by the Department of Electronics and Information Technology (DeitY) aims to create an IoT industry in the country worth US$ 15 billion by 2020.
The report also states that IoT can help consumers achieve goals by greatly improving their decision-making capacity by leveraging on the augmented intelligence embedded within the smart devices and help companies achieve enhanced process optimisation and efficiencies.
