By ANI MUMBAI: Digital infrastructure provider Tata Communications on Wednesday launched an Internet of Things (IoT) marketplace to bring together IoT practitioners and enterprise customers on a single platform. This will enable customers to tailor their IoT solutions and drive innovation within their business while enabling vendors and partners on the platform to discover new market opportunities, it said in a statement. Consulting major Frost & Sullivan finds that the enterprise IoT market in India will grow at a compound annual growth rate of 35 per cent through 2023, quadrupling the market by then. Indian enterprises have not been able to fully leverage the opportunities as there is a lack of standardisation, interoperability and connectivity in the IoT market. "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 of IoT business unit at Tata Communications. The IoT marketplace will enable diverse customers from the government, public sector companies, enterprises, and start-ups to choose from a range of offerings and services on a plug and play model, enabling them to leverage IoT solutions to address their custom requirements. Tata Communications' customers represent 300 of the Fortune 500 corporations whose digital transformation journeys are enabled by its portfolio of integrated, globally managed services that deliver local customer experiences.
India’s Tata Communications has created an online B2B marketplace that will allow companies to discover custom IoT solutions and opportunities for their respective businesses. The increased connectivity between companies will enable Indian IoT technology to grow significantly. The IoT market in India is expected to grow at a rate of 35% per annum till 300, according to Frost & Sullivan.