Indian Internet of Things (IoT) market is set to grow to $15 billion by 2020 from the current $5.6 billion, according to a report by Nasscom released on Wednesday in Bengaluru, as part of its design and engineering summit. The Internet of Things (IoT) market in India is predicted to grow to $15 bn by 2020, according to a report by Nasscom. Industrial IoT accounts for 60% of this growth, with consumer IoT responsible for the remaining 40%. However, consumer IoT is projected to increase to 45% by 2020, mainly due to the growing number of tech-savvy consumers. “Consumers are increasingly interested in smart home and connected devices as they want more control over their homes from anywhere at anytime.
The Internet of Things (IoT) market in India is predicted to grow to $15 bn by 2020, according to a report by Nasscom. Industrial IoT accounts for 60% of this growth, with consumer IoT responsible for the remaining 40%. However, consumer IoT is projected to increase to 45% by 2020, mainly due to the growing number of tech-savvy consumers. “Consumers are increasingly interested in smart home and connected devices as they want more control over their homes from anywhere at anytime.