India’s growing internet of things (IoT) ecosystem is getting a big boost with the introduction of an IoT Marketplace that aims to bring together IoT practitioners and enterprise customers.
The IoT Marketplace by Tata Communications is expected to set the ground for enterprises to tailor their IoT solutions and drive innovation while enabling vendors and partners on the platform to discover new market opportunities.
It is also expected to bringing together different partners from device manufacturers, software developers to start-ups and system integrators to deploy and manage IoT solutions, all under a single platform.
“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.
Market advisory firm Frost & Sullivan finds that the Enterprise IoT market in India will grow at a compound annual growth rate (CAGR) of 35% through 2023.
It said that 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 standardization, interoperability and connectivity in the IoT market, for example, and there is a need to bridge this gap and offer a single solution, which can help scale IoT adoption in India.
In a media statement, Oizom, a start-up offering IoT based environmental solutions, said that the company believes the IoT Marketplace is a ready channel that would give them access to the many untapped IoT opportunities in the Indian market.
“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,” added Chandrashekhar Limaye, Director, Supertech Instrumentation Services (I) Pvt. Ltd, India.
Supertech specializes in providing advanced automation solutions.
The India government is eyeing 5 billion connected IoT ecosystem by 2022 where “everything that can connect, will be connected.” Among the many initiatives to support this vision is a new software policy set to develop IoT and other emerging technologies
Research firm IDC has also forecast that 60% of Indian enterprise organizations will be leveraging IoT for competitive technology and pricing advantage. In the past year, IoT Centers of Excellence have opened in Kochi and Gurugram. Many Indian IoT startups have also secured funding.
