The report on the 'Internet of Things - Building a Smart, Secure & Connected World' sheds light on the technology ecosystem in India and the speed with which new and emerging technologies are expected to attain their full potential, both as a collective as well as a part of individual experiences.
The report also highlights the impact and potential of technology in the areas of manufacturing, security, water and urban & rural divide. The report indicates that by the year 2022, the adoption of Internet of Things in India is expected to grow at a much higher, CAGR 35.1%, as compared to the global markets, CAGR 26.9%. The growth is fuelled by the government initiative in the form of Digital India Program which is pushing the development of IoT infrastructure in the country. Further, as the government is empowering local start-ups and local production, the scope of IoT in the country is expected to rise further.
The report also indicates that Network Security is the largest security type with about 46% market share in 2017; its market size is expected to grow from USD 3,075.8 million in 2017 to USD 13,286.8 million by 2022, at a robust CAGR of 34% during the forecast period.
The report finds that IoT would play a major role in Ganga Rejuvenation, River Development, Water Resources Management & Swachh Bharat Mission.
It was released at the 2nd edition of Internet of Things Summit held on 1 March 2019 in New Delhi.